Oil production in Colombia showed stable performance throughout 2017, but how have the main operators and producers in the country fared? The National Hydrocarbons Agency (ANH) recently reported 4Q17 figures per field and we updated our database to analyze oil companies’ production metrics.
Higher oil prices have knocked gas off its perch as Colombia’s most profitable hydrocarbon, at least on a netback basis. We update our charts with the results of 1Q18 and comment about what this shift might mean.
Ecopetrol (NYSE: ECP) announced a major project to be carried out in the Cupiagua field. The NOC said that this project will help improve operations in this important field, generate social benefits and increase production.
On May 1st, Gran Tierra Energy Inc. (TSX: GTE) announced its financial and operating results for the quarter ended March 31, 2018. The company reported a record high average quarterly Colombia production and the firm keeps demonstrating ongoing strong financial performance.
Although this mechanism is new in Colombia, it already works in countries like Peru with positive results, and could change the course of the Colombian post-conflict process.
Now here is a little-known fact: higher oil prices lead to better netbacks! OK so it is painfully obvious. Welcome… but painfully obvious none-the-less.
Canacol Energy (TSX: CNE) announced its financial and operational results for the three months ended March 31, 2018. Average production increased, and the firm reported a positive net income during this quarter. CNE also announced management’s goals for 2018.
Social investment in the oil sector has evolved into a mechanism that allows the integration of environmental and social factors for the benefit of communities.
We are only publishing Ecopetrol’s (NYSE:EC) overall results today but we thought we would get a jump on the analysis by publishing the NOC’s Line of Business results simultaneously.
After years of underperforming global indexes, Colombian-focused companies finally caught one: the TSX’s index of Canadian oil and gas stocks.
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