Reduced drilling times, an efficient use of personnel and new technologies tested in other fields are some of the goals that Ecopetrol has put in place to reverse a declining production trend in the Rubiales field, according to its VP of production Hector Manosalva.
Ecopetrol (NYSE:EC) has applied for modifications to its environmental licenses to drill new wells in the vicinity of Barranca. It has met with residents from 120 area villages to socialize the changes and impact it could have on the community. Municipal authorities say they will verify the work.
Oil prices rallied in 2Q16 giving creating the first sequential increase in a year. Brent closed above US$50 on July 1st (our last weekly measurement of the quarter) but prices are still below last year’s average.
It has been nearly 20 months since the announcement of the first deep water discovery in the Colombian Caribbean at the Orca-1 well, and the discovery is now going through another level of technical evaluation to determine its potential.
Ecopetrol (NYSE:EC) president Juan Carlos Echeverry took to the press to talk about the NOC’s plans and challenges in the Rubiales field, and addressed other big issues like the Propilco sale, Bioenergy, and more
Ecopetrol has announced that two of its high executives will swap roles. Thomas Rueda, current president of the NOC’s transportation firm Cenit, will take over as president of the Ocensa pipeline, while the pipeline’s president, Luisa Fernanda Lafaurie, will take the Cenit role.
We are learning from Hydrocarbons Mexico that when one company, especially the NOC, dominates completely the industry, the news is all about them.
I have to admit it’s getting better (Better) / A little better all the time (It can’t get no worse) – Lennon-McCartney
Gran Tierra (TSX:GTE) says that it has closed a US$525M deal for PetroLatina Energy, as it consolidates its position in Colombia and in the Middle Magdalena basin.
The USO continues to celebrate the reversion of the Rubiales and now the Cusiana fields to Ecopetrol (NYSE:EC), calling it “a party for all Colombians”, and also scored a win with the Labor Ministry on refinery work shifts.
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