Relations between communities and oil industry are deteriorating every day. This situation is affecting everyone and it seems that there is no solution.
The National Hydrocarbons Agency (ANH) published oil and gas reserves in Colombia at the end of2016. As expected, these registered a decrease compared to 2015 figures. The ANH highlighted that contingent resources increased.
Geopark (NYSE: GPRK) reported its financial results for 1Q17 and the firm´s showed good financial and operational performance during this quarter. The company achieved record consolidated oil and gas production.
Ecopetrol (NYSE: EC) has reported good financial performance, despite low prices and less production. The company announced that it has cash to buy oil reserves abroad.
Parex Resources Inc. (TSX: PXT) announced its financial and operating results for 1Q17. The oil firm reported production growth and good financial performance in this period.
Canacol Energy could abandon its oil business entirely and concentrate on supplying Colombia’s growing natural gas demand, as the outlook for oil prices remains uncertain.
Ecopetrol (NYSE: EC) presented its first quarter 2017 results. The company had a significant net income increase and good operational performance. The firm is optimistic about this year.
Following the announcement of Gorgon, “the biggest gas discovery found in Colombian territory in the last 28 years”, Juan Carlos Echeverry, CEO of Ecopetrol (NYSE: CE) said that despite the fall in oil prices, Ecopetrol’s initial plans are still going strong.
Pacific Exploration & Production (TSX: PEN) reported its 1Q17 results highlighting that it is on the right path to improve the firm´s performance. Pacific net production increased compared to previous quarter.
Ecopetrol (NYSE:EC) announced “the largest gas discovery found in the last 28 years in Colombian territory,” but the announcement just might be larger than the importance of the discovery itself.
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