StocksMedium•13 October 2026•
1 min read
Billionaire Jaime Gilinski to Become GeoPark Majority Shareholder in Venezuela Oil Swap
Key Facts
1Colombian billionaire Jaime Gilinski arranged to transfer his Venezuelan oil field interest to GeoPark in exchange for shares worth $515 million.
2The Gilinski family will become the majority shareholder of GeoPark following the deal involving the operation of the Bare heavy crude field.
3GeoPark aims to increase production at the Venezuelan field from 11,000 to 95,000 barrels per day.
Colombian billionaire Jaime Gilinski arranged to transfer his Venezuelan oil field interest to GeoPark in exchange for shares worth $515 million. Reuters reported that the Gilinski family will become the majority shareholder of GeoPark following the deal, which involves the operation of the Bare heavy crude field. GeoPark aims to increase production at the Venezuelan field from 11,000 to 95,000 barrels per day.
GeoPark (GPRK) closed at $11.88 on October 12, 2026, with the stock trading between a day low of $11.55 and a high of $11.98. The transaction follows the easing of US sanctions on Venezuela's energy sector, allowing the company to capitalize on assets in the Orinoco region.