Juan Carlos Echeverry, CEO of Ecopetrol, released some results of the “transformation plan” to address low oil prices. This program started two years ago and its results are very positive in a very short time.
Parex Resources Inc. (TSX: PXT) announced its annual reserves assessment as at December 31, 2016. The company reported a significant increase in its reserves for the seventh consecutive year. This keeps the growth trend of reserves of Colombia producers which have reported. GLJ prepared the reserves report.
The NOC wants to achieve 715mbd in production, as well as increase exploration in Colombia and Mexico, where last year the Warrior discovery took place.
Ecopetrol (NYSE: EC) has been strengthening its transport business in recent years. The Colombian company has great plans for this corporate area since it has become one of the most profitable.
Geopark (NYSE: GPRK) announces record oil and gas reserves. The data was certified by DeGolyer and MacNaughton (D&M) as of December 31, 2016.
This week’s “From our Analyst’s Desk” deals with market concentration, an economic concept regulators use to decide if there is or is not sufficient competition in an industry. That was a Colombia-wide view. Here we break down the results by basin.
Pacific Exploration & Production Corp. (TSX: PEN) announced the appointment of Barry Larson as new CEO. The company´s new head will start working February 20, 2017.
Colombian media reported the country has one of the most expensive production processes in the world.
Gran Tierra (TSX:GTE) is first out of the gate for Colombia-focused companies with its year-end 2016 reserves report. The growth was substantial, helped by higher oil prices, exploration and acquisitions.
W Radio reports that the National Agency of Environmental Licensing (ANLA) denied an environmental license to Gran Tierra Energy (TSX: GTE) for exploratory work in Orito, Putumayo.
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