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Colombian media reported the country has one of the most expensive production processes in the world.

Gran Tierra (TSX:GTE) is first out of the gate for Colombia-focused companies with its year-end 2016 reserves report. The growth was substantial, helped by higher oil prices, exploration and acquisitions.

W Radio reports that the National Agency of Environmental Licensing (ANLA) denied an environmental license to Gran Tierra Energy (TSX: GTE) for exploratory work in Orito, Putumayo.

After the report presented by the Office of the General Comptroller on CBI and Reficar’s contracts, there are “more questions than answers.” According to the Colombian press there would be a loss to the nation of CoP$8.5T, but the presumed cost overruns should be examined in detail.

Pacific Energy (TSX:PEN) is closing 2016 in much better shape than it started, and following its nearly yearlong process of crisis and restructuring, is valued at just over US$2B based on current market figures. But investors are still wary of the firm’s shares.

Now a larger problem than attacks on pipelines or facilities, the illegal drug and mining trade and groups linked to the ELN guerrilla which steal crude using illegal valves has become one of Ecopetrol’s (NYSE:EC) primary concerns, and the activity also damages the ecosystem.

With the recovery of oil prices, GeoPark (NYSE:GPRK), which has been in the country for four years, has positive prospects for 2017.

Oxy (NYSE:OXY) has restarted production at the Caño Limon field after halting the operation for more than a week following an escalation of attacks on the Coveñas/Caño Limon pipeline by the ELN guerrilla.

Juan Carlos Echeverry, Ecopetrol’s (NYSE:EC) current president apologized for the Reficar and Bioenergy cases.

A spill registered at the Rubiales field forced Ecopetrol (NYSE:EC) to activate its contingency plan and caught the attention of national environmental authorities.