The fracking debate had been quiet for nearly 2 months with articles dwindling down to nearly zero. Now things seem to be heating up again, ahead of a National Hydrocarbons Agency forum next week.
The Minister of mines and Energy (MinMinas) Tomás González paid a visit to Yopal, Casanare and outlined the root causes of the drop in oil prices, and also talked about exploration plans to grow reserves and production.
After rising two weeks in a row, articles on fracking or unconventional hydrocarbons fell last week. Positive articles exactly balanced negative ones.
Readers will have noticed a number of articles this week and last week on fracking. We decided to keep track of the number of articles we have found and whether they are positive or negative.
The graph shows that Baker Hughes rig counts for Colombia have increased three months in a row, a welcome trend.
The era of easy discoveries of oil is over declares Colombia’s main business paper, and while offshore and unconventional resources could be the source of the next big find, they bring more challenges and needs more investment.
Texas based oil operator Anadarko (NYSE:APC) walked away with three of the five offshore blocks assigned in the Colombia Round 2014, and has caught the attention of authorities after offering the largest amount for a single block, at US$123M.
The Colombian government puts high hopes on offshore blocks for the 2014 Round of auctions. But today companies which won offshore blocks in previous round are ‘out-shooting’ those companies with onshore blocks.
There is growing interest in Colombia’s potential for offshore production, and there are four planned offshore exploration wells in Colombia’s Caribbean waters, but greater incentives are needed to boost this incipient industry.
Year-to-date May 2014 results for kilometers of seismic and numbers of exploratory wells show improvement over 2013 but are not on track to meet government objectives.
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