Frontera Energy Corporation (TSX: FEC) announced its estimated 2018 production with positive results according to its 2018 production guidance. Colombia production in the fourth quarter of 2018 increased. The firm announced its drilling plans for the first quarter of 2019 and the Quifa block plays a key role in this process.
Analysts made a bold forecast, suggesting that Colombia could surpass Venezuela’s oil production. Here is why.
Ecopetrol (NYSE: EC) announced advances and investments in La Cira-Infantas, one of the most important producing fields in Colombia. The NOC highlighted the increase in oil production in this important area since 2005.
The president of the Colombian Petroleum Association (ACP), Francisco Lloreda, spoke about lessons learned from 2018 and forecasts for 2019.
It is early January and time for my annual look ahead. The working title for this piece is always “Fearless Forecasts” but this year I am rather fearful.
The National Hydrocarbons Commission (CNH) started the year with big news: an important finding by India’s ONGC Videsh Limited.
Colombia is working in strategic fields to increase its oil production as soon as possible. This strategy is generating the first positive results and the Akacias field is proof of that.
MinMinas reported that November 2018 oil production was 883 mbd. The last time the figure was in the 880’s was June 2016 when it was 888 mbd. Gas production was also up substantially in the month.
The low levels of oil and gas reserves have generated concerns in Colombia and the lack of exploratory activity has increased these worries. María Fernanda Suarez, Minister of Mines and Energy (MinMinas) spoke about the government’s plans for the industry and its future.
Oil prices have decreased considerably in recent months, generating concerns in the sector. The Organization of Petroleum Producing Countries (OPEC) agreed to reduce its production to counteract this situation, which could benefit the country.
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