News and AnalysIs for

Venezuela is going through a severe political, social and economic crisis, which has deepened due to its poor performance in the oil sector. Colombia getting close to equaling the oil production of the neighboring country.

The US has implemented restrictions on Venezuelan oil to generate economic pressure on the Nicolas Maduro regime. This situation has generated opportunities for the Colombian oil sector.

Companies are publishing their annual reserve reports and for many of them, the headline number is a combined oil and gas figure. That got us thinking about a graph which we had not done for a long time: combined oil and gas production.

Gran Tierra Energy Inc. (TSX: GTE) announced its financial and operating results for the fourth quarter and year ended 2018. The company reported a record average annual production and the firm continues to demonstrate strong financial performance.

Ecopetrol (NYSE: EC) reported its reserves as of December 31, 2018. The NOC reported positive results despite social problems and attacks on its infrastructure. Higher oil prices played a key role to increase this metric during the past year. De Golyer & MacNaughton, Gaffney, Cline & Associates and Sproule International Limited audited the majority of reserves (99%).

The spokesman for the Commission of Experts created by the Ministry of Mines and Energy (MinMinas) explained why the government should wait to implement this controversial technique.

In last week’s presentation by the Committee of Experts on Fracking, a great deal was made about the industry not having a ‘social license to operate’. That was a pretty broad brush, based on a small window. Just VMM and, as it turned out, maybe only a couple of communities within VMM.

The Ministry of Mines and Energy (MinMinas) reported gas production figures for January 2019. Natural gas has been showing a positive performance in recent months.

The Ministry of Mines and Energy (MinMinas) reported oil and gas production figures for January 2019. Crude and natural gas production grew in the first month of this year.

The long-awaited report of the commission of experts was presented to the public Thursday afternoon. We attended. The study concluded there was much opportunity but much uncertainty so the country should run a pilot. Which is what Ecopetrol had proposed last year.