The results for Colombia-focused companies are published, so we updated our statistics on oil prices and netbacks. It was not a great quarter but not a bad one either. As always, individual results may vary; we are looking at Colombian averages.
This is how the firm has participated in the Colombian market and helped in the process of the country’s transformation process.
Canacol Energy (TSX: CNE) announced its financial and operational results for the three months ended September 30, 2018. Average production increased, and the firm reported a positive net income during this quarter.
Frontera Energy (TSX: FEC) announced its financial and operating results for 3Q2018. The company reported a decrease in oil production but managed to report a positive net income in the quarter. The firm announced changes to the composition of its Board of Directors and FEC plans to drill several wells in Colombia during 4Q18.
Geopark Limited (NYSE: GPRK) announced its financial results for the third quarter 2018. The company reported record oil and gas production and Colombia keeps increasing its participation in this key metric. The firm announced its 2019 work program and investment guidelines.
Parex (TSX: PXT) announced its financial and operating results for the third quarter of 2018. The firm reported oil production growth and good financial performance. Parex declined to update its potential strategic repositioning.
Gran Tierra Energy Inc. (TSX: GTE) announced its financial and operating results for the quarter ended September 30, 2018. The company reported a record average quarterly Colombia production and the firm continues to demonstrate strong financial performance.
Better prices seem to bring a more promising panorama, but if the NOC wants to leverage this opportunity, it will have to resolve issues associated to fuel theft first.
Once again, industry firms like Ecopetrol (NYSE:EC), Parex and Equion, among others, showed their commitment to their areas of influence. These and other Corporate Social Responsibility (CSR) stories in our periodic summary.
Geopark Limited (NYSE: GPRK) announced its operational update for the three-month period ended September 30, 2018. The company reported a new production record and exploration success in the Llanos 34 block during this quarter.
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