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Carlyle group looking to sell Colombian oil producer SierraCol for $1.5 billion

Published 20/03/2025, 13:02
© Reuters.
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Investing.com -- Private equity firm Carlyle Group (NASDAQ:CG) is reportedly looking for a prospective buyer for its Colombian oil production company SierraCol. The expected selling price is around $1.5 billion, according to a report by Reuters on Thursday.

Carlyle Group established SierraCol in 2020, following the acquisition of assets from Occidental Petroleum (NYSE:OXY). With a production rate of 45,000 barrels of oil equivalent per day, SierraCol has become the most substantial independent oil producer in Colombia.

According to a presentation available on SierraCol’s website, the company had a free cash flow of $172 million in the twelve months leading up to September. In the same period, the net debt of the company was reported to be $511 million.

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