The Colombian government has initiated a strategy to boost the exploration and production of hydrocarbons in the country, but concerns about loss of self-sufficiency continue. María Fernanda Suarez, Minister of Mines and Energy (MinEnergia), talked to the possibility of importing natural gas and the need for a new regasification plan in the Pacific.
Canacol Energy’s (TSX:CNE) CEO, Charle Gamba, spoke about the completion of the firm’s gas pipeline in the Colombian Caribbean.
Canacol Energy (TSX: CNE) provided results on the Acordeon 1 exploration well, located in the VIM-5 block in the Lower Magdalena Valley (VIM). The company is changing its 2019 drilling program, due to these results.
Average oil netbacks had a recent peak in 2Q18 and since then have been falling back. Oil is now within US$6 of gas on an equivalent barrel basis. Not enough perhaps to make a company change strategy but maybe to change some resource allocation decisions.