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Larger companies are more efficient

Larger companies are more efficient

We have been collecting financial and operational data on the companies with significant production in Colombia. Our database goes back to 2009 and so far covers nine companies in depth. The seven in the chart are sufficiently mature for us to estimate their average Operating Income for the last year. Economic theory says that larger companies in terms of revenue should have better margins if only because they can spread their fixed costs over a bigger base. Sometimes larger companies lose this advantage by being bloated and inefficient.

Thursday, October 25th, 2012
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Ecopetrol and Chevron announce maintenance at Chuchupa field in La Guajira

Ecopetrol and Chevron will upgrade the compression facilities at the Chuchupa field to increase its daily gas production. For this, the field will be off-line from October 30th to November 3rd. More maintenance will take place at the end of the month. From an Ecopetrol press release, translated and with commentary by Hydrocarbons Colombia.

Tuesday, October 23rd, 2012
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Ecopetrol and China National Petroleum Corporation sign cooperation agreement

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.

Monday, October 22nd, 2012
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Canacol to buy 100% of Shona, a gas specialist

Just before the National Hydrocarbons Agency conference, Canacol announces it is purchasing Shona Energy for a mixture of cash and shares.

Tuesday, October 16th, 2012
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C & C Energia reports improved 3Q12 production

C & C Energia reports improved 3Q12 production

In a press release, C&C Energia updated its Colombian operations. Highlights include:

Sunday, October 14th, 2012
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Shona Energy reports LNG deal with Altenesol

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.

Thursday, October 11th, 2012
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Petroleum engineers best paid grads in 2011

Petroleum engineers best paid grads in 2011

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.

Thursday, October 11th, 2012
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Parex updates Colombia operations, confirms guidance of 13-14,000bpd by year end

Parex updates Colombia operations, confirms guidance of 13-14,000bpd by year end

Source: January-June MinMinas, Hydrocarbons Colombia; September 2012 from Parex
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.

Thursday, October 4th, 2012
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Ecopetrol invites third-parties to commercialize internally-developed technology

October 3, 2012 From an Ecopetrol press release published on the MinMinas site. Translated and with commentary by Hydrocarbons Colombia.

Thursday, October 4th, 2012
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Petroamerica updates Colombian operations

October 2, 2012 Petroamericas issued a press release updating its Colombian operations both exploration and production. Highlights include

Wednesday, October 3rd, 2012
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