During the National Hydrocarbons Agency (ANH) conference in Cartagena last week, Ecopetrol and the China National Petroleum Corporation (CNPC) signed an agreement to develop exploration and production opportunities both in Colombia and other countries. Here is an Ecopetrol press release on the agreement, translated and with commentary by Hydrocarbons Colombia.
Just before the National Hydrocarbons Agency conference, Canacol announces it is purchasing Shona Energy for a mixture of cash and shares.
In a press release, C&C Energia updated its Colombian operations. Highlights include:
October 10, 2012
In a press release, Shona Energy reports a deal to sell 17 MMCFD of gas to Altenesol’s Nataly I liquefied natural gas (“LNG”) Project. The deal is subject to agreement on price which will be in the range of $4.50 to $5.25 per MCF and subject to annual escalation. The eventual agreement will be “take or pay” on both sides.
Source: MinEducation, Hydrocarbons Colombia
October 11, 2012
For the second straight year, petroleum engineers lead the Ministry of Education’s annual survey of outgoing graduates. The study looks at 2010 graduates and how they fared in 2011, whether they had a job, whether their education served them in their work and how much they were paid. The above chart shows that petroleum engineers were closely followed by geologists which shows how important mining and hydrocarbons are to Colombian growth. The two groups were nearly tied in starting salary — 31% higher than the third-ranked profession. They were nearly tied as well in success at finding a job: only about 5% failed to get a job in their first year.
Source: January-June MinMinas, Hydrocarbons Colombia; September 2012 from Parex
A Parex Resources press release says that September production was 11,850bpd versus 10,300bpd in 2Q12. The company expressed confidence in hitting at least 13,000bpd assuming current operating conditions continue, especially the assumption that proven wells get approvals for production and that existing wells decline at the current observed rate.
October 3, 2012 From an Ecopetrol press release published on the MinMinas site. Translated and with commentary by Hydrocarbons Colombia.
October 2, 2012 Petroamericas issued a press release updating its Colombian operations both exploration and production. Highlights include
Gold Oil published its 1H2012 results and it is clear that it needs partners quickly. The company has an interest in the Azar block (operated by Gran Tierra) and operates the Nancy Burdine block under an arrangement with Ecopetrol. Both blocks are in Putumayo. The company also has interests in Peru.
Chile-based GeoPark reported its first half 2012 results in a press release, highlighting acquisitions in Colombia that increased production and successful exploration in Colombia as well.
The company closed two acquisitions in Colombia in the first half and that contributed 88% of the 194% increase in revenues that the company recorded. The price was US$105M and revenue contribution for the first half was US$36M which should make the CFO and the shareholders happy.
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