News and AnalysIs for

The Colombian oil sector is experiencing times of great uncertainty, due to the presidential elections and the boom in the anti-oil referendums. This situation could affect the development of several agreements between the government and oil companies, especially the Exploration and Production (E&P) contracts. We will analyze the production that is at stake due to this situation.

The Ministry of Mines and Energy (MinMinas) reported gas production figures for April 2018. Gas has been showing a recovery compared to figures of last year.

German Arce, Minister of Mines and Energy (MinMinas), wrote an article about the goals and plans of the government in the oil sector in the newspaper El Espectador. He highlighted the relevance of the Caribbean region for the future of the sector.

Higher oil prices have knocked gas off its perch as Colombia’s most profitable hydrocarbon, at least on a netback basis. We update our charts with the results of 1Q18 and comment about what this shift might mean.

The Colombian Association of Natural Gas (Naturgas) made an analysis on the situation of key metrics of the gas sector such as production, self-sufficiency and capacity. The association called for more collaboration from Colombian authorities to boost the development of the industry.

Ecopetrol (NYSE: ECP) announced a major project to be carried out in the Cupiagua field. The NOC said that this project will help improve operations in this important field, generate social benefits and increase production.

On May 1st, Gran Tierra Energy Inc. (TSX: GTE) announced its financial and operating results for the quarter ended March 31, 2018. The company reported a record high average quarterly Colombia production and the firm keeps demonstrating ongoing strong financial performance.

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

Ecopetrol (NYSE: EC) gave details about the Akacías field in Meta, but will social issues be an obstacle for its development?

The Colombian Chamber of Goods and Services (Campetrol) reported its drill rig information for April 2018. The good trend continues although the industry reported one rig less compared to previous month.