Sintana cuts early payout deal to tie up loose ends for Trinidad exit
Sintana is putting finishing touches on its departure from the Caribbean by accelerating deferred cash payments for the sale of its Trinidad business.
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.
This story was originally published by Offshore Energy. Read the full story at Offshore Energy →
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