Editor’s Note: Jaime Checa is one of Colombia’s most respected geophysicists. When he speaks the industry listens. Here he reflects on the sorry state of onshore seismic in 2015, looking beyond the easy excuse of low oil prices.
The arrival of El Niño has added a whole new dynamic to an ongoing debate raging along the Caribbean coast over the price of natural gas, as questions on the long term rates and short term supply alike fill the press.
The USO is planning a general strike in Ecopetrol’s (NYSE:EC) fields and facilities on November 17th, which it claims is necessary to protect against mass layoffs being planned by multinationals.
We have been tracking the debate and discussion on Colombia’s gas supply which is tight now and will likely follow with a deficit in supply in 2016. We noticed yet another entity that has confirms that the cost of gas is on the rise: Colombia’s statistical agency DANE.
The General Royalty System (SGR) has been in place for three years now, with President Juan Manuel Santos marking the event by praising its contribution to job growth and a reduction in poverty. But not all agree.
In announcing Geopark (NYSE:GPRK) 3Q15 results, CEO James F Park said that the company’s portfolio and cost-management efforts resulted in “approximately 85% of our production being profitable at a $25-30 oil Price”.
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