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.
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).
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