News and AnalysIs for

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.

Parex (TSX: PXT) announced its 2017 year-end reserves report. The company reported positive results in key metrics such 1P reserves, Reserve Life Index (RLI) and Reserves Replacement Index (RRI).

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.

Oil production in Colombia showed stable performance throughout 2017, but how have the main operators and producers in the country fared? We check our database to analyze their production metrics.

Gran Tierra Energy (TSX: GTE) announced the firm’s 2017 year-end estimated reserves and prospective resources. McDaniel & Associates Consultants Ltd. was the reserves evaluator.

Mauricio Cárdenas, Minister of Finance (MinHacienda), spoke about current oil prices and its possible benefits in the Colombian economy. Additionally, President Santos spoke about sustainable development to the World Economic Forum in Davos, Switzerland.

The oil sector has presence in several regions of the country. Oil production in Colombia showed stable performance during 2017, but which are the main producing municipalities? Here are the top 10 oil producers during last year.

Frontera Energy Corporation (TSX: FEC) announced its 1Q18 production target and other goals for this year. The company highlighted that it achieved exit rate production after royalties during December 2017.

Gran Tierra Energy (NYSE: GTE) announced its 2018 capital Budget and production guidance. The company is optimistic about this year’s performance in Colombia.