Frontera Energy Corporation closed the sale of its entire Colombian exploration and production portfolio to Parex Resources on June 1 for aggregate consideration of US$750M — comprising US$500M in upfront cash, US$225M in assumed net debt, and a US$25M contingent payment tied to a potential extension of the Quifa contract with Ecopetrol before the first anniversary of closing.
Ecopetrol’s board of directors voted in a universal session on May 27 to postpone the start of president Ricardo Roa Barragán’s previously approved unpaid leave, following a 30-day medical incapacity that Roa filed on May 26.
The expected candidates made it through to the second round and official government candidate Iván Cepeda got the approximately 40% of the vote that the polls said he would. But Abelard de la Espriella surprised by getting over 43% and coming first.
Colombia’s oil, gas and mining sector contracted for the ninth consecutive quarter in Q1 2026, but the pace of decline slowed sharply to just 0.1% — the mildest reading in more than two years, according to data published by the national statistics agency DANE and reported by Valora Analitik.
NG Energy International Corp. (TSX: GASX) has announced successful drilling results for the Aruchara-5 development well at its María Conchita block on Colombia’s Caribbean coast, where the company holds an 80% working interest.
Ecopetrol and the Sociedad Portuaria Puerto Bahía (SPPB) — the Cartagena maritime terminal owned by Frontera Energy — have secured all outstanding regulatory and environmental approvals required to begin the execution phase of their LNG regasification project on Colombia’s Caribbean coast.
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