Amerisur Resources Plc announced its results for the six months ended 30 June 2019. The company showed lower metrics compared to same period last year, but good advances in strategic alliances and projects.
A couple of weeks ago we wrote about oil prices concluding that “Your CFO is unhappy because prices are low and appear to be falling.” CFOs were no doubt happy in 2Q19 because netbacks (on average) were up.
The Colombian government has worked to boost the development of new oil projects in the country and the industry is responding positively. The sector has committed large investments for the coming years.
The oil sector has shown a slight recovery in the country, driven mainly by the growth in oil prices. However, shares of some companies such as Ecopetrol (NYSE: EC) have not had as positive a response.
Canacol Energy (TSX: CNE) is betting heavily on the natural gas market, making large investments in the country. The results are beginning to be seen, as the company reported record natural gas sales recently.