The National Hydrocarbons Agency (ANH) announced several exploration drilling projects for this year, generating many expectations about its possible benefits for the country’s reserves. However, the plans have not advanced as quickly as expected.
Oil production has gone through some difficult years recently, and companies in the sector have worked to solve this situation as soon as possible. Ecopetrol (NYSE: EC) announced that two important fields reported good production metrics in 2Q18.
Colombia has more than 400 oil fields, but just a few produce half of Colombian oil. We updated our database according to figures from the National Hydrocarbons Agency (ANH) and here are the top ten oil producing fields in 4Q17.
The Colombian Chamber of Goods and Services (Campetrol) reported its drill rig information for July 2018. The good trend continues, as the industry reported more rigs working in this period compared to July 2017 and previous month.
The oil sector has proposed the implementation of unconventional techniques to increase reserves, but this alternative has generated much concern and controversies. Communities are taking legal actions to prohibit techniques such as fracking in Colombia.
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).