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.
Ecopetrol (NYSE: ECP) reported good financial performance in 2017, and prospects for this year are positive as well. Oil prices and the discount to Brent played a key role in this issue, benefiting all Colombians.
Amerisur Resources Plc (LSE: AMER) announced its certified reserves and resources for the year ended 2017. The company’s reserves decreased, but the administration is optimistic about the future.
The company’s management spoke about the investments planned for this year in Colombia and Peru; the figures doubled compared to last year.
Financial results for 4Q17 are in and crude oil netbacks are up. Hardly surprising given the run up in oil prices, but it looks like not all the growth in Brent is passing through directly to operating profitability.
Ecopetrol (NYSE:EC) is unique among Colombia-focused operators for many reasons but one is that it is the country’s only integrated oil company, lacking just retail distribution for it to cover the entire value chain. Luckily, the NOC publishes results by Line of Business (LoB) that allow us to understand what is happening below the top-line.
A few weeks ago, the ACP published a study on operating costs, which we thought would be of considerable interest to our readers. The Association has graciously given us permission to translate it to English and publish.
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