A bit of good news as Canacol Energy (TSX:CNE) posted a proved developed producing (PDP) reserve increase of 110%, and a 2P replacement rate of over 1000%.
Ecopetrol (NYSE:EC) says that a group of community members protesting a new hiring system –- an alternative to the notorious Community Action Committees (JACs) –- have turned violent and forced contingency measures at the Coveñas port.
Although it has served as a lightning rod for government criticism in Barrancabermeja, Santander, Ecopetrol’s (NYSE:EC) board of directors gave a definitive suspension to plans to modernize the city’s refinery in the 2016-2020 strategic plan.
In Ecopetrol (NYSE:EC) 4Q15 results conference call, Cenit President Tomás Rueda revealed that the NOC is working with authorities on a new pipeline tariff scheme. That no doubt pleased his suffering clients.
Geopark (NYSE:GPK) reported production gains in its consolidated operation and in Colombia, which now accounts for 67% of its production, but saw a strong drop in revenues and posted a loss for 2015 due to the oil price.
Hocol reassured the San Juan de Arama Municipality that despite alarms being sounded that it had an imminent plan to extract crude from oil sands, it has no plans to do so and its environmental license does not contemplate it either.
Parex Resources (TSX:PXT) reported an increase in production in 2015 and said that its net loss had shrunk compared to the previous year, adding that it has also cleaned up its debt and remains poised for the year to come.
The initial headline frenzy generated by a General Controller report on budget overruns at the Cartagena Refinery (Reficar) has slowed, as some of the big names implicated in the scandal sound off with their arguments and explanations. We summarize some of the bigger stories.
Ecopetrol (NYSE:EC) had been able to escape quarterly losses for much of 2015, buoyed by its transportation business and improved refining results. But its year end 2015 financial results could not escape a global trend of impairment charges from the low oil price, with the NOC posting a CoP$3.9T loss (US$1.23B)
Ecopetrol says that it has tapped Fernán Ignacio Bejarano Arias, who has worked with a number of public entities and boards, as its new legal vice president.
2025, Hydrocarbons Colombia, All Rights Reserved.
