C&C Energy updated its corporate presentation for the FirstEnergy/Societe Generale Global Energy Conference in London. The presentation showed C&C to be one of the few companies operating in Colombia with steadily growing production. The company says it is committed to a 100% Colombian strategy and is looking for acquisitions or farm-in opportunities to maintain growth beyond its own success with exploration. They will definitely participate in the 2012 Round of auctions. We discussed their 2Q12 performance here. Some highlights
Resolution 0770 of September 13, 2012 of the National Environmental Licensing Agency (ANLA) concerns Emerald Energy’s activities in the municipalities of Garzon and Gigante, Huila in the Upper Magdalena Basin. Previously the local environmental agency — the Autonomous Corporation of the Magdalena River Basin (CAM for its initials in Spanish) — had imposed on the operator immediate suspension of four activities for failure to comply with the terms of its environmental license:
Source: Petrominerales, Hydrocarbons Colombia.
In a press release, Petrominerales provided an update on production and exploration. The production summary can be seen in the chart: yet another month of lower production this time 8% month over month. The company did not provide a zonal breakdown as they did in their 2Q12 results. However the company did explain the August results precisely in terms of
In a press release, Suroco Energy announces that the Cohembi-8 well has been placed into production at 150 bpd. The graph shows production from the entire field which is shared with Ecopetrol (48%) and the operator Vetra 33%, leaving Suroco with 19%. Cohembí has a nice upward trend, a welcome sight since overall this year Colombian total production has been falling. The company reports that its share after royalties was 987bpd in July, 1,117bpd in August and 1,243 before bringing Cohembi-8 on line. That would imply a rather healthy increase in the production from the entire field, reaching over 6,000bpd in August.
In a press release, Petroamericas announced the spud of the La Casona-1 well, El Eden block, Llanos basin using the Tuscany 119 rig.
In a press release, Interoil reports slightly lower production in Colombia.
Headhunter Hays Oil and Gas reports on Colombia in their July-October 2012 report. Only Brazil and Colombia in the region get their own section.
September 11, 2012 Yesterday Talisman president John Manzoni stepped down as president in favor of board member Hal Kvisle. The widely reported cause was the growing unrest by the activist investors for the lack of performance by the stock.