Ecopetrol (NYSE:EC) was ranked 454 among the 500 most valuable brands in the world in 2017. This is three positions above last year’s rank, where the NOC was number 457 in international Brand Finance’s classification.
Colombian authorities are betting on offshore projects to cover at least part of the natural gas supply gap in next decade. Several companies have shown interest in this kind of project in Colombian waters.
Colombia is optimistic about increasing its production offshore. Ecopetrol (NYSE: EC) announced that it will start drilling an offshore well in the second quarter of this year. The NOC becomes the first Colombian oil-company to carry out an offshore hydrocarbon project on its own.
Juan Carlos Echeverry, CEO of Ecopetrol, released some results of the “transformation plan” to address low oil prices. This program started two years ago and its results are very positive in a very short time.
Parex Resources Inc. (TSX: PXT) announced its annual reserves assessment as at December 31, 2016. The company reported a significant increase in its reserves for the seventh consecutive year. This keeps the growth trend of reserves of Colombia producers which have reported. GLJ prepared the reserves report.
The NOC wants to achieve 715mbd in production, as well as increase exploration in Colombia and Mexico, where last year the Warrior discovery took place.
Ecopetrol (NYSE: EC) has been strengthening its transport business in recent years. The Colombian company has great plans for this corporate area since it has become one of the most profitable.
Geopark (NYSE: GPRK) announces record oil and gas reserves. The data was certified by DeGolyer and MacNaughton (D&M) as of December 31, 2016.
This week’s “From our Analyst’s Desk” deals with market concentration, an economic concept regulators use to decide if there is or is not sufficient competition in an industry. That was a Colombia-wide view. Here we break down the results by basin.
Pacific Exploration & Production Corp. (TSX: PEN) announced the appointment of Barry Larson as new CEO. The company´s new head will start working February 20, 2017.
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