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.
The Secretary of Finance of Barrancabermeja in an inspection process found some irregularities in Ecopetrol’stax return (NYSE: EC) during 2014 and 2015.
The country has been waiting for offshore exploration results with optimism. Ecopetrol (NYSE: EC) announced the first big finding of the offshore exploration campaign.
The topic of the year so far is gas. EPM is the second largest gas distributor in Colombia. Carlos Arturo Diaz, Vice President of Gas at EPM, spoke about goals and challenges for this year.
Last year was difficult for the sector because of the continued oil price decline. The industry had to adapt to this environment and learn to operate with the lowest price in 12 years.
2026, Hydrocarbons Colombia, All Rights Reserved.
