Canada-headquartered oil and natural gas exploration player Sintana Energy has put a deal in place to bring a full cash-out of $900,000 forward to conclude its exit from all remaining Trinidad assets before the year is out.
Sintana Energy has confirmed that the first installment of $450,000 in deferred consideration for the sale of its business in Trinidad in 2025 has been received. The exact identity of the buyer that purchased the firm's Trinidad assets remains undisclosed.
The company agreed with the unnamed purchaser a variation of terms for the deferred consideration payment installments, such that full payment of all outstanding amounts, less an agreed early payment discount, would be accelerated to the end of December 2026.
Sintana will now get aggregate cash payments totalling $900,000 in respect of the deferred balance for the sale, while the remaining deferred consideration payments, which previously extended through to the end of 2027, were originally expected to amount to $1 million.
As a result, the company anticipates fully concluding the exit from all business, assets, and operations in Trinidad by year-end. The firm remains focused on frontier and offshore exploration and development.
Sintana’s asset portfolio is located in offshore basins in Namibia, Uruguay, and Angola, alongside historical or legacy assets in places like Colombia and the Bahamas, following the closing of its chapter in Trinidad.