RCN Radio reports that according to Pacific Rubiales’ vice president Federico Restrepo, the company has increased its oil reserves thanks to projects like the La Creciente gas field (Sucre) and others developed in Peru. Pacific also increased its reserves to 517M proved barrels with other findings which will allow oil supplies until 2027.
ProductionMinMinas recently published final oil and final gas production numbers by month for the period January to December 2012. The graph shows the distribution of production by department.
Caracol Radio reported that the government will use drones to monitor and protect the Cano Limon Coveñas and TranAandino pipelines. Additionally, the government will increase the rewards to prevent attacks on pipelines and also will use twenty helicopters recently purchased for the same purpose.
Mayor General (R) Jorge Rodríguez Clavijo addressed the Colombo-Canadian Chamber of Commerce this morning, and while he was realistic about the challenges, he was upbeat about the changes in the past 10 years and about the Santos government’s efforts in the field. He stayed away from political issues like the peace talks or the impact of Venezuela and kept to the facts.
As reported by RCN Radio, road blocks were lifted around Yopal, capital of the Casanare department (which produces 18% of the country’s oil and 70% of its gas) after citizens barriaded them to protest the lack of water. According to Ivan Mustafa, Deputy Minister of Water, an agreement between the government and the people of Yopal was reached. Meanwhile, people will continue to receive water in tanker trucks.
With investors walking away from Colombian oil and gas stocks but interest rates low and companies still upbeat about their prospects, there have been a number of announcements about new debt issues and debt intentions. Other less conventional uses of cash like share buybacks have also become more prevalent.
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