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.
Parex Resources (TSX: PXT) provided an operational update and the company highlighted the results of the National Hydrocarbons Agency (ANH) bid round in June 2019. The firm won two blocks in this process.
Frontera Energy Corporation (TSX: FEC) announced its second quarter 2019 operational update. Colombia’s production decreased in 2Q19 compared to previous quarter, while the firm’s drilling campaign is advancing satisfactorily.
Geopark Limipted (NYSE: GPRK) announced the expansion of its portfolio on Colombia, after the National Hydrocarbons Agency (ANH) bid round in June 2019. The company won three blocks in alliance with Hocol (a 100% subsidiary of Ecopetrol (NYSE: EC).
Canacol (TSX: CNE) participated in the South America Energy Series 2019 (SAES19) in Bogotá. Omar Serrano, Director of Strategy, Guilds and Contracts of CNE, spoke about the growth and expectations of the company in the country. HCC attended the event and we bring a brief summary of the meeting.
Gran Tierra Energy (TSX: GTE) announced an operational update for the second quarter of this year, to date. The company highlighted advances in the Acordionero field and positive results in Colombia’s most recent oil round.
2025, Hydrocarbons Colombia, All Rights Reserved.
