Canacol Energy (TSX: CNE) announced its financial and operational results for the three months ended June 30, 2018. Average production increased, but the firm reported a net loss during this quarter and 1H18 (due to one-time and non-cash charges).
Julio César Vera, president of the Colombian Association of Petroleum Engineers (Acipet), spoke about the importance of fracking to assure the country’s self-sufficiency.
Oil companies are diversifying their portfolios and the industry associations say the petrochemical business has positioned itself as one of the most attractive alternatives.
Ecopetrol (NYSE: EC) announced its second quarter 2018 results. The NOC financial performance considerably increased compared to previous year, proving that the company is levering current oil prices.
The implementation of unconventional techniques, such as fracking, to produce oil and gas has generated much concern and controversy in the country. This time, a group of environmentalists falsely claimed there was fracking in the department of Santander.
Sector’s representatives talked about the natural gas sector prospects in the country, and they acknowledged that the country must overcome several challenges in gas issues.
Colombia’s new Minister of Environment (MinAmbiente), Ricardo Lozano, and new Minister of Mines and Energy (MinMinas), Maria Fernanda Suarez, openly spoke about the controversial topic of fracking.
The National Hydrocarbons Agency (ANH) spoke about what must be done to assure the success of the industry in Colombia.
Geopark Limited (NYSE: GPRK) announced its financial results for the second quarter 2018. The company reported record oil and gas production and Colombia keeps increasing its participation in this key metric.
The bottom-line for a company are its profits and/or stock market performance. But we try to take a policy perspective so our bottom-line is production and reserves. Both were rather naturally affected by the oil-price crisis and so, maybe, “nobody’s fault”. The current industry question is how fast things have reacted to upward price signals and whether policy plays a role in that. Call it the U-curve.
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