The Finance Minister Mauricio Cárdenas said he has a “shock plan” ready for Ecopetrol (NYSE:EC) which is designed to increase production by 25,000bd and improve the country’s macroeconomic benchmarks.
After a hearing ordered by the municipal council of Simacota, Santander, Ecopetrol (NYSE:EC) and Parex Resources (TSX:PXT) have clarified that the participation agreement and nearby project does not involve any unconventional techniques like fracking
The final stretch is underway to close and approve via plebiscite the peace agreement reached between Farc and government negotiators. The date for the signing of the agreement and the critical plebiscite to pass it are now official as well.
The challenge for Ecopetrol (NYSE:EC) over the last year and a half under Juan Carlos Echeverry has been to guarantee its cash flow, cut costs and maintain disciplined in its spending, but now the firm can turn the page and start to focus on production.
Two fields in Meta previously closed by Ecopetrol (NYSE:EC) due to the fall in oil prices will now be brought back online at some point in the next month and a half.
Equion’s president María Victoria Riaño credits positive results despite hard times to a Company culture which emphasis the positive and reinforces the importance of individual workers, improving the efficiency of the company and its ability to adapt quickly and generate new ideas.
Pacific E&P said that the Ontario Superior Court has approved the company’s restructuring deal, after its board of directors opted to remain committed to an agreement with Catalyst Capital to restructure the firm and its outstanding debt, despite a last minute counter offer.
The Superintendent of Industry and Commerce has opened an investigation of Ecopetrol (NYSE:EC) and a suppliers association in Meta, based on accusations of forming a cartel to control the production and distribution of construction materials destined for the oil industry.
E&P firm Hocol says that it will drill an exploration well, named “Pegaso”, in the CPO 16 block, located in La Macarena, Meta, near the area where an exploration program of Hupecol caused widespread controversy and a revoked license.
After successive production growth, Geopark´s (NYSE:GPRK) oil and gas production dropped for the first time, but the firm was able to shrink its loss compared to the first quarter and last year.
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