Ecopetrol (NYSE:EC) third quarter 2016 oil and gas production showed a slight dip causing revenues to fall, and the firm said higher taxes cut into its profit. The firm expects to counteract falling production by new drilling, and has its sights set on exploration for 2017.
Canacol Energy (TSX:CNE) said that it hit record production and revenues not seen since before the fall of oil prices, but relinquished fields combined for a non-cash impairment charge which brought its first quarterly loss in 2016.
Ecopetrol (NYSE:EC) has reported a considerable rise in robberies from its installations and oil infrastructure in Casanare, including the theft of cables, batteries, piping and metallic items, with the incident count up by 200% in 2016.
A public hearing in the Pesca Municipality of Boyacá for a seismic campaign by Maurel & Prom has again received strong community resistance after local leaders and environmentalists allege it would lead to a drought.
Pacific Energy (TSX:PEN) posted its third quarter 2016 earnings, the first since its restructuring and the handover of the Rubiales field, showing production of 75,096boed after royalties. The firm highlighted its strategic changes which will mean a focus only on Colombia and Peru.
Ecopetrol (NYSE:EC) will apply a polymer flooding technique developed by its Colombian Petroleum Institute (ICP) to the Chichimene field in Meta, to improve the extraction of heavy crude and increase its secondary recovery rate.
The USO accused Ecopetrol (NYSE:EC) of relying on the police to repress union members and force it to accept management’s agenda to leave the current collective bargaining agreement without changes.
Canacol Energy (TSX:CNE) has announced a new agreement with gas distributor Promigas to expand its existing gas distribution network and add 100mmcfd to its current agreement.
Parex Resources (TSX:PXT) continued with its steady production growth in the third quarter of 2016 and was even able to post its first profit since the fall in oil prices at the end of 2014.
Ecopetrol (NYSE:EC) has handed out scholarships for rural residents to take on university studies, and distinguished 16 national initiatives with its innovation awards for 2016. These and other Corporate Social Responsibility (CSR) stories in our periodic summary.
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