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Municipalities in Boyacá affected by Maurel & Prom oil exploration

The facts are that in the region of Boyaca where Maurel & Prom Colombia is conducting 3D seismic on November 5, 2012 there was the sound of explosives, the earth shook and water pipes broke in some of the affected areas. Water was out for up to five days in some municipalities. The municipalities accuse Maurel & Prom and their subcontractor Compañía Geofísica Latinoamericana (CGL) of being responsible. The subcontractor denies responsibility. Extracted and translated from thestatement published by a citizens’ action committeeand with commentary by Hydrocarbons Colombia.

Tuesday, November 13th, 2012
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Government allocates CoP$900B for the construction of the third stretch of the route Bogotá – Villavicencio

The Colombian press reports that President Juan Manuel Santos has announced a CoP $900B (US$496M) investment in a sector of the route Bogotá – Villavicencio. The investment will be carried out to improve traffic flow on this route. Work on this stretch will begin in 2013. Another CoP$800B will be invested on a route linking the municipalities of Cáqueza and La Calera with Bogotá.

Tuesday, November 13th, 2012
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Colombian oil prices, WTI and Brent

Colombian oil prices, WTI and Brent

For the past several months, we have been publishing the Friday closing prices for WTI and Brent. Nothing radical there but we have also been making qualitative and quantitative comments about Colombian oil prices.

Tuesday, November 13th, 2012
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Ministry of Mines and Energy rejects proposal to tax the oil sector

Congress approved the presentation of a project (004, 2012) which intends that the oil and gas sector pay the industry and commerce tax (ICA). The industry is currently exempt from this municipal tax because royalties are presumed to fulfill the same role.

Tuesday, November 13th, 2012
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Royalties wasted at Yopal (Casanare) wastewater treatment plant

RCN reports a scandal over modifications at the wastewater treatment plant of Yopal (Casanare). The work has been the responsibility of the consortium Inisa since August 5, 2011, when the consortium signed a CoP$7.711B (US$4.25M) contract in which it committed to deliver results ten months later.

Tuesday, November 13th, 2012
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Sintana makes unconventional arrangement with ExxonMobile Colombia

In a press release, Sintana Energy announces a farm-out arrangement with ExxonMobile Exploration Colombia. The farm-out is for block VMM-37 in the Middle Magdalena Basin but only applies to unconventional plays on the block. For these ExxonMobile will earn a 70% interest on completion of the agreed work plan. Sintana retains 30% of an unconventional play and 100% of conventional production.

Monday, November 12th, 2012
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CyC boosts sales by lowering inventories

CyC boosts sales by lowering inventories

CyC Energia aka C&C Energy reported results for 3Q12. Production was up just under 9% but revenue was up over 1/3 because the company managed to reduce inventories by over 3,000 bpd.

Monday, November 12th, 2012
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Interoil production continues to fall

Interoil production continues to fall

Interoil reported its October 2012 production results for Colombia without commentary. Colombia’s oil production rose in September and October but Interoil’s share dropped. In fact, except for a brief blip in July, production has dropped continuously since March.

Monday, November 12th, 2012
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USO news summary for the week ending November 9, 2012

The USO is the Colombian petroleum workers union. Unrepentantly radically left, it often seems trapped in some Marxist-Leninist twilight zone from before the fall of the Berlin Wall or perhaps before the Second World War. Still its capacity for mischief is unmistakable and so we believe it is important for oil and gas industry stakeholders to keep track of what they up to. We will summarize major news items from their webpage or other sources and publish the summary every Monday. We will reproduce the tone of their items while not agreeing with their messages.

Monday, November 12th, 2012
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Security Summary for week ending November 10, 2012

Security Summary for week ending November 10, 2012

Incidents declined again for a fourth straight week but the decline was slight so maybe we have found a new equilibrium.

Sunday, November 11th, 2012
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