Gentile Law and Mariscal advise Sagittarius on Orion’s acquisition
Sagittarius Energy has announced the acquisition of Orion, Ecuador’s fourth-largest independent oil and gas operator, in what is considered one of the most significant private transactions in the country’s energy sector in recent years.
The complex cross-border deal was legally advised in Spain by Gentile Law, led by partner Lucía Goy (pictured left), in collaboration with Mariscal Abogados, headed by partner Irene Terrazas (pictured right). The acquisition marks a strategic milestone for Sagittarius Energy as it expands its footprint in Latin America.
The transaction received approval from Ecuador’s Ministry of Energy, under the leadership of Minister Inés Manzano and Deputy Minister Guillermo Ferreira. While the specific financial terms were not publicly disclosed, company sources told Forbes the deal is valued in the high eight-digit range in US dollars.
The deal also signifies the exit of Singapore-based Clermont Group, which had developed Orion into a key upstream player in Ecuador. Orion currently operates Blocks 52 and 54 in the Oriente Basin, having produced an average of 5,000 barrels of oil and 3 million cubic feet of natural gas per day over the past year.
This acquisition underscores Sagittarius Energy’s commitment to expanding its operations in high-potential markets and highlights growing investor confidence in Ecuador’s evolving energy landscape.
