The oil sector continues to announce agreements to encourage the exploration and production of oil and gas in the country, with the Colombian authorities’ support. The National Hydrocarbons Agency (ANH) announced a new agreement between Parex (TSX: PXT) and Ecopetrol (NYSE: EC).
Canacol Energy (TSX: CNE) announced its financial and operational results for the three months ended December 30, 2018. Gas production, sales and funds from operations increased. Charle Gamba, CEO of CNE, talked about the company plans for 2019.
The publicly-traded Colombia-focused E&P companies have reported so we can publish our industry-wide netback estimates. Lower oil prices naturally had a negative impact on 4Q18 netbacks but, overall, 2018 was a good year.
The oil sector has had a very hectic start of the year with many news and rumors. The industry was speculating about the possible sale of several of Frontera Energy’s assets (TSX: FEC) in Colombia. The company spoke on this issue and its plans in the country.
Once again, the Analyst thought of some charts he really would have wanted to publish in last week’s article about the NOC’s Line of Business (LoB) results but did not think of until a few days later. We know. We will speak to him about that. But he is right, the graphs are interesting so we will publish them this week.
Inspired by the rapid approach of baseball season, two short rather than one long comment this week, one on 2018 results so far and one on fracking, inspired by MinMinas naming five companies as being interested.