The Ministry of Mines and Energy (MinMinas) reported oil and gas production figures in the country for January 2018. Crude extraction decreased compared to the previous month, but this metric is above the government’s mid-term target.
Recently, Ecopetrol (NYSE:EC) got the public’s attention about the violence in southern Meta with a ‘gee whiz’ estimate of how much oil production was at risk. That got our Analyst thinking about production concentration and risk.
Colombia is not an oil country, but it depends heavily on the extractive sector in many economic aspects. The National Administrative Department of Statistics (DANE) published preliminary Colombian export figures, highlighting the role of the oil and mining sectors.
Geopark (NYSE: GPRK) announced its independent oil and gas reserves assessment for 2017, certified by DeGolyer and MacNaughton Corp (D&M). The company reported consolidated and Colombia reserves growth.
I have a deserved reputation for being a curmudgeon – always complaining – but looking at the statistical evidence, and listening to the industry, 2018 could shape up to be a good year. I am – shock! horror! – optimistic.