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Canacol reserves in Colombia increase 38%

Canacol reserves in Colombia increase 38%

Canacol reported that the company’s proven reserves (1P) increased by 98% over fiscal year-end (June) 2011. As the chart shows, this was primarily due to the acquisition of contracts in Ecuador (3.2MMbbl) although Colombian reserves still grew a substantial 38% year-over-year.

Saturday, September 22nd, 2012
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Global Energy Development announces fracking plans for later this year early next — optimistic?

In a Global Energy Development PLC press release, the company announced its plans for both conventional and non-conventional operations in Colombia, through its subsidiary Colombia Energy Development.

Thursday, September 20th, 2012
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Ecopetrol and Pacific Rubiales rated highly for sustainability

Colombia’s two largest oil and gas companies scored well in the Dow Jones Sustainability Index-World as compiled by the Swiss firmSustainable Asset Management (SAM)In a press release, Ecopetrol announced that

Thursday, September 20th, 2012
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Petroamerica reports 1,500 bpd from Las Maracas-4 Llanos Basin

Petroamerica reports in a press release that the Las Maracas-4 well Los Ocarros Block Llanos Basin was producting 1,500 bpd of 30 degree API oil. They say it could produce 2,000 bpd but the trucks cannot get in and out fast enough because of a rig coming in for exploratory drilling and a workover rig moving out.

Wednesday, September 19th, 2012
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Colombia’s Auditor General warns Environment and Energy Ministries about non-conventional hydrocarbons

Recently, the National Environmental Licensing Agency granted the country’s first license for non-conventional hydrocarbons. The testing will take place in the villages known as Dominguito and Patiño in the municipality of Buenavista, Boyacá in a region better known for emeralds and dairy cattle than oil and gas. The block is known as Chiquinquira and is operated by Nexen which has adjacent exploration blocks in the same high plateau region.

Wednesday, September 19th, 2012
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ANLA gets dramatic lesson in the connection between environmental licenses and the stock market

We didn’t see the original article — it has been wiped off the website — but apparently Bloomberg reported yesterday in an interview with Luz Helena Sarmiento, head of the National Environmental Licensing Agency (ANLA), that in June of this year Pacific Rubiales had been denied an environmental license for Quifa North West, part of the company’s second biggest oil field.

Wednesday, September 19th, 2012
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Government announces definite alternatives to protect the Páramo of Miraflores

From a MinAmbiente Press Release. Translated and with commentary by Hydrocarbons Colombia Prior to the community meeting, the Minister Juan Gabriel Uribe, director of Anla, Luz Helena Sarmiento, and a group of congressmen did a flyby by the Quimbo.

Wednesday, September 19th, 2012
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Rising tide of community violence affects operators in southern Meta

Yesterday violent protests in Puerto Gaitan, Meta left 3 dead. RCN Radio — which usually takes a “right-of-center” stance — reported that the protests were because Pacific Rubiales had “failed to deliver on its commitments”. UPDATE: On September 17th, Pacific Rubiales Corporate Affairs Director, Frederico Restrepo told RCN Radio that the protests were not directed at the company but caused by the death of a small child in a traffic accident with a policeman.

Monday, September 17th, 2012
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C&C Energy committed to 100% Colombian strategy

C&C Energy updated its corporate presentation for the FirstEnergy/Societe Generale Global Energy Conference in London. The presentation showed C&C to be one of the few companies operating in Colombia with steadily growing production. The company says it is committed to a 100% Colombian strategy and is looking for acquisitions or farm-in opportunities to maintain growth beyond its own success with exploration. They will definitely participate in the 2012 Round of auctions. We discussed their 2Q12 performance here. Some highlights

Sunday, September 16th, 2012
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ANLA draws distinction between surface and subsurface in the case of Emerald Energy in Huila

Resolution 0770 of September 13, 2012 of the National Environmental Licensing Agency (ANLA) concerns Emerald Energy’s activities in the municipalities of Garzon and Gigante, Huila in the Upper Magdalena Basin. Previously the local environmental agency — the Autonomous Corporation of the Magdalena River Basin (CAM for its initials in Spanish) — had imposed on the operator immediate suspension of four activities for failure to comply with the terms of its environmental license:

Sunday, September 16th, 2012
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