News and AnalysIs for

The ANH recently published field-level crude-oil production data for 4Q18, allowing us to update our database and look at where growth – or decline – took place. Overall production was up more than 11mbd in 2018 versus 2017 but this is usually due to a long list of growing fields (winners) offset but an equally long or longer list of declining fields (losers).

Frontera Energy (TSX: FEC) announced its financial and operating results for the first quarter of 2019. The company said that it had an “exceptional” quarter in operational and financial results.

The oil sector has proposed to develop unconventional projects as the main solution to guarantee energy self-sufficiency in the long term. Maria Fernanda Suarez, Minister of Mines and Energy (MinMinas), spoke on this topic.

The President of the Colombian Petroleum Association (ACP), Francisco José Lloreda, spoke about the country’s energy future, and the challenges and opportunities that this year brings.

The National Development Plan (PND) states that the government can sell its shares in public companies, as a way to cover the fiscal gap. As controversial as it is, selling part of the NOC’s shares is on top of the authorities’ list.

Canacol Energy (TSX: CNE) announced its financial and operational results for the three months ended March 31, 2019. Natural gas production, sales and funds flow from operations increased.

The Ministry of Mines and Energy (MinMinas) and the National Hydrocarbons Agency (ANH) reported Colombia oil and gas reserves in 2018, with negative results for natural gas. Orlando Cabrales, President of the Colombian Association of Natural Gas (Naturgas), talked about the gas situation in the country.

The Minister of Mines and Energy (MinMinas), María Fernanda Suárez, confirmed that the government will follow the recommendations made by the Commission of Experts regarding fracking.

The National Environmental Licensing Agency (ANLA) spoke about its most recent follow-up process to industry projects in the departments of Casanare, Cundinamarca and Tolima.

The Colombian oil sector faced tough times due to low oil prices and social conflict, but the industry managed to overcome this challenges and it is recovering lost ground. The Ministry of Mines and Energy (MinMinas) and the National Hydrocarbons Agency (ANH) reported Colombia oil and gas reserves in 2018, with positive results in term of oil, but there are concerns about the behavior of natural gas reserves.