Canacol Energy (TSX: CNE) announced positive results of the Ocarina 1 exploration well located in the VIM 5 block and the flow testing results of the Nelson 7 development well located in the Esperanza block. The company is the operator of both areas located in the Lower Magdalena Valley (VIM).
Geopark Limited (NYSE: GPRK) announced its operational update for the three-month period ended June 30, 2019. The company reported an oil and gas production increase and development and exploration successes during this quarter.
The oil industry has had a very active year in terms of alliances, new projects and asset sales. Amerisur Resources (LON: AMER) announced important news that could continue to move business in the sector in a big way.
The National Hydrocarbons Agency (ANH) reported information per field for the last quarter of 2018. We updated our database to analyze oil companies’ production metrics and the top oil operators and Working Interest (WI) producers in the country.
Canacol Energy (TSX: CNE) provided results on the Acordeon 1 exploration well, located in the VIM-5 block in the Lower Magdalena Valley (VIM). The company is changing its 2019 drilling program, due to these results.
Average oil netbacks had a recent peak in 2Q18 and since then have been falling back. Oil is now within US$6 of gas on an equivalent barrel basis. Not enough perhaps to make a company change strategy but maybe to change some resource allocation decisions.
Gran Tierra Energy (TSX: GTE) announced an operational update. The company highlighted production increases and positive advances in several projects in Colombia.
Canacol (TSX: CNE) is on track to become Colombia’s second largest natural gas producer.
Ocensa, the largest oil pipeline in Colombia, announced an increase in transport prices, generating controversy. The Colombian Petroleum Association (ACP) and oil firms spoke about this decision.
The Colombian government committed to reactivate the oil sector and has taken several steps to achieve it in recent months. The National Hydrocarbons Agency (ANH) announced the creation of the Permanent Competitive Process (PPAA), attracting the interest of new investors to the country.
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