Colombia’s Natural Gas Association (Naturgas) spoke about the effects of the State Council’s decision to suspend existing fracking regulation.
The development of unconventional deposits is one of the main strategies to increase reserves and production of oil and gas in Colombia. Ecopetrol (NYSE: EC) initiated a legal process to develop these projects in the country.
The Colombian oil sector continues to face several social and legal challenges to operate in the country, despite the change of government and its attitude in favor of the extractive industries. A new controversy has been generated with an oil license in the department of Putumayo.
Geopark Limited (NYSE: GPRK) announced its operational update for the three-month period ended September 30, 2018. The company reported a new production record and exploration success in the Llanos 34 block during this quarter.
The Colombian Chamber of Goods and Services (Campetrol) reported its drill rig information for September 2018. The good trend continues, as the industry reported more rigs working in this period compared to September 2017 and previous month.