News and AnalysIs for

Colombia has more than 400 oil fields, but just a few produce half of Colombian oil. We updated our database according to figures from the National Hydrocarbons Agency (ANH) and here are the top ten oil producing fields in 4Q17.

The Colombian Chamber of Goods and Services (Campetrol) reported its drill rig information for July 2018. The good trend continues, as the industry reported more rigs working in this period compared to July 2017 and previous month.

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.

The Ministry of Mines and Energy (MinMinas) reported oil and gas production figures for July 2018. Crude increased slightly compared to the same period of last year, and gas showed positive behavior as well.

The president of the National Hydrocarbons Agency (ANH), Orlando Velandia, spoke about prospects and projects for the sector in the first half of the year, among other topics.

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.

Oil companies are diversifying their portfolios and the industry associations say the petrochemical business has positioned itself as one of the most attractive alternatives.

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.