The oil sector has had a very hectic start of the year with many news and rumors. The industry was speculating about the possible sale of several of Frontera Energy’s assets (TSX: FEC) in Colombia. The company spoke on this issue and its plans in the country.
The Port Society of Puerto Bahia (SPPB) has ambitious plans in the country. The company made an interesting proposal to Ecopetrol (NYSE: EC) to connect Puerto Bahia with Reficar.
Once again, the Analyst thought of some charts he really would have wanted to publish in last week’s article about the NOC’s Line of Business (LoB) results but did not think of until a few days later. We know. We will speak to him about that. But he is right, the graphs are interesting so we will publish them this week.
Inspired by the rapid approach of baseball season, two short rather than one long comment this week, one on 2018 results so far and one on fracking, inspired by MinMinas naming five companies as being interested.
Frontera Energy (TSX: FEC) announced its financial and operating results for the fourth quarter and year ended 2018. The company said that it had strong 4Q18 operational and financial results.
The industry remains expectant about the potential authorization to implement unconventional techniques in the country. Charle Gamba, CEO of Canacol (TSX: CNE), spoke on this topic and the company’s plans.
The National Hydrocarbons Agency (ANH) announced the signing of new exploration and production contracts with Shell (LON: RDSB) in offshore areas of the Caribbean Sea. Representatives of the government and the company spoke on this important agreement.
Geopark Limited (NYSE: GPRK) announced its financial results for the fourth quarter and year ended 2018. The company reported record oil and gas production and Colombia keeps increasing its participation in this key metric, thanks to the Llanos 34 block. The firm reported excellent financial results.
Ecopetrol published its results this past week and CEO Felipe Bayón was rightly trumpeting the NOC’s earnings for their contribution to the nation’s coffers. But hidden in the results presentation was worsening margins in the Refining Line-of-Business (LoB).
Parex (TSX: PXT) announced its financial and operating results for the fourth quarter and year ended 2018. The firm reported oil production growth and good financial performance. Parex announced its guidance for 2019.
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