Geopark Limited (NYSE: GPRK) announced its operational update for the three-month period ended September 30, 2018. The company reported a new production record and exploration success in the Llanos 34 block during this quarter.
The Colombian Chamber of Goods and Services (Campetrol) reported its drill rig information for September 2018. The good trend continues, as the industry reported more rigs working in this period compared to September 2017 and previous month.
National Hydrocarbons Agency (ANH) new director, Luis Miguel Morelli, spoke about the process that the entity is developing to set clear rules for the use of fracking.
We recently published the MinMinas estimate of September crude oil production and while the press release (and our story) focused on the (slight) increase month-over-month and year-over-year, the interesting angle is the surprising stability dating from 3Q16 – spanning three years.
The Ministry of Mines and Energy (MinMinas) reported oil and gas production figures for September 2018. Crude increased slightly compared to the same period of last year, and gas showed positive behavior as well.
Colombia continues talking about the possibility of developing unconventional projects via the hydraulic fracturing technique (fracking). The Colombian petroleum workers (USO) spoke about this alternative and its potential in some municipalities of the country.
The firm provided important news on its Llanos-25 Block, with results from its Acorazado-1 exploration well.
The Colombian Association of Petroleum Engineers (ACIPET), in alliance with the National Hydrocarbons Agency (ANH), Ecopetrol (NYSE: EC) and other companies, organized a forum on Enhanced Oil Recovery (EOR) in Bogotá. HCC attended the event and we bring a brief summary of the meeting.
The oil crisis affected Colombia’s public finances in recent years, but crude prices have recently recovered. This situation has returned to generate optimism in the public sector, especially for the economic benefits that this may represent.
Authorities confirmed that the Congress will discuss a Bill to modify the General System of Royalties (SGR).
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