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Canacol reported that the company’s proven reserves (1P) increased by 98% over fiscal year-end (June) 2011. As the chart shows, this was primarily due to the acquisition of contracts in Ecuador (3.2MMbbl) although Colombian reserves still grew a substantial 38% year-over-year.

September 19, 2012 3pm Eastern, 1pm Calgary, 2pm Bogota
We don’t normally write about global oil prices except on the weekends when the roller-coaster ride is over for 48 hours and there is time to sit back and reflect.

In a Global Energy Development PLC press release, the company announced its plans for both conventional and non-conventional operations in Colombia, through its subsidiary Colombia Energy Development.

Colombia’s two largest oil and gas companies scored well in the Dow Jones Sustainability Index-World as compiled by the Swiss firmSustainable Asset Management (SAM). In a press release, Ecopetrol announced that

Extracted from an Environment Ministry press release. Translated and with commentary by Hydrocarbons Colombia.

From a press release by MinMinas. Translated and with commentary by Hydrocarbons Colombia.

MME, Bogotá, September 17, 2012. Eleven investment projects that will benefit the departments of Arauca, Guanía, Guaviare, Meta and Vaupés, were approved on Monday during a meeting of the College of Management and Decision (OCAD) of the Llanos, chaired by the Minister of Mines and Energy, Federico Renjifo.

Petroamerica reports in a press release that the Las Maracas-4 well Los Ocarros Block Llanos Basin was producting 1,500 bpd of 30 degree API oil. They say it could produce 2,000 bpd but the trucks cannot get in and out fast enough because of a rig coming in for exploratory drilling and a workover rig moving out.

Recently, the National Environmental Licensing Agency granted the country’s first license for non-conventional hydrocarbons. The testing will take place in the villages known as Dominguito and Patiño in the municipality of Buenavista, Boyacá in a region better known for emeralds and dairy cattle than oil and gas. The block is known as Chiquinquira and is operated by Nexen which has adjacent exploration blocks in the same high plateau region.

We didn’t see the original article — it has been wiped off the website — but apparently Bloomberg reported yesterday in an interview with Luz Helena Sarmiento, head of the National Environmental Licensing Agency (ANLA), that in June of this year Pacific Rubiales had been denied an environmental license for Quifa North West, part of the company’s second biggest oil field.

From a MinAmbiente Press Release. Translated and with commentary by Hydrocarbons Colombia Prior to the community meeting, the Minister Juan Gabriel Uribe, director of Anla, Luz Helena Sarmiento, and a group of congressmen did a flyby by the Quimbo.