Parex Resources Inc. (TSX:PXT) announced its annual reserves as at December 31, 2018. The company pointed out that its proved reserves (1P) increased compared to the previous year. PXT recalled that its reserves are located in Colombia’s Llanos and Middle Magdalena basins.
Oil production in Colombia showed stable performance throughout 2018, but the National Hydrocarbons Agency (ANH) has not reported information per field for the last two quarters of the year. However, the agency recently reported 2Q18 figures per field and we updated our database to analyze oil companies’ production metrics.
Gran Tierra Energy (TSX: GTE) announced its 2018 year-end estimated reserves as evaluated by McDaniel & Associates Consultans Ltd. The firm reported its estimated prospective resources as well. GTE production increased in Colombia.
Ecopetrol’s (NYSE) CEO, Felipe Bayón, spoke about the importance that fracking has for Colombia in a scarce oil environment.
Gran Tierra Energy (TSX: GTE) announced its 2019 capital budget and production guidance. The firm announced an operational update, reporting a record high production during the fourth quarter of 2018 and positive exploration results.