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).
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.
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.