Gran Tierra Energy (TSX:GTE) published its third quarter 2016 earnings, which saw the consolidation of its PetroLatina acquisition. A slipping realized oil price cut into its revenues while production stayed flat, but the firm is planning for organic growth with a three-year drilling program.
Mansarovar Energy executive president Harvinderjit Singh has made a couple of rounds with Colombian press to highlight the future of the Indian/Chinese owned firm, and said it plans to invest US$490M into its Colombian operation.
The ongoing debate on the General Royalty System (SGR) and its upcoming budget has consolidated the primary criticism of the system: it fails to create any meaningful, large scale projects for Colombia’s region.
GasColombia’s natural gas production in September 2016 grew 1% compared to August, to reach 992.1B BTU, with a 26.6% increase coming from the Cupiagua field, according to a study.
The office of the VP of economic affairs of the Colombia Petroleum Association (ACP) published a report that followed the primary trends and found a slight price increase, growing demand due to a closed Venezuelan border, and declining imports from the first quarter 2015 to the same period this year.
Caquetá represents the new frontier for oil production in Colombia, a region with promising potential to develop reserves and a basin without much activity thus far, especially if the armed conflict ceases.
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