Canacol (TSX: CNE) and Arrow Exploration Ltd. announced an agreement on certain Colombian oil assets. In addition, Arrow announced other agreements with Front Range Resources Ltd. and Samaria APA to enter in the Colombian market.
Canada’s New Stratus Inc. announced an agreement to acquire an oil company with important assets and participation in oil fields in Colombia.
Gas distributors Surtigas and Gases de Occidente and logistics company OPL announced an alliance to promote the use of Vehicular Natural Gas (VNG) in the cargo sector.
While reporting on Frontera’s (TSX:FEC) results, we realized that we were continuing to tell an old story. It was time to tell Frontera’s story not one from the past.
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.
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