The companies are planning to pay around C$6.5 ($4.79) a share to acquire Pacific Rubiales, excluding Alfa’s 18.95% shares in the Canadian firm.
A technical, financial and legal due diligence has been completed by Alfa and Harbour Energy. The proposed transaction would be subject to a number of conditions, and a deal may not be concluded, the companies said.
Pacific Rubiales Energy has recently discovered a 213m gross oil column in the Echidna-1 exploration well, located in exploration Block S-M-1102 in the Santos Basin, Brazil.
Pacific Rubiales owns assets with interests in approximately 90 exploration and production blocks in seven countries, including Colombia, Peru, Guatemala, Brazil, Guyana, Papua New Guinea and Belize.
Harbour Energy, a joint venture of Noble and EIG Global Energy Partners, operates upstream and midstream energy assets globally.
