GeoPark announced the appointment of a new Chief Financial Officer (CFO).
Nearly two months after the fact, the ANH finally published oil and gas production for October 2023. They could have added up the numbers by hand faster. Actually, the source of the article was Campetrol although the ANH databases are updated to October.
Before the holidays, MinHacienda Ricardo Bonilla, MinEnergia Andrés Camacho and Ecopetrol CEO Ricardo Roa went to Congress to explain to the Fifth Commission of the Lower House the deal between Ecopetrol and Venezuela’s PDVSA. The NOC leadership estimates a gas shortfall in 2024 of at least 10% meaning importing would be inevitable anyway.
Colombian investment bank Corficolombiano made the estimate based on assumptions about the NOC’s production and oil prices. The figure includes dividends, taxes and royalties.
To no one’s surprise, we hope, MinHacienda Ricardo Bonilla has asked Colombia’s Constitutional Court to review its decision from last November on royalty deductibility.
Theoretically, production should be up by an additional 0.3% thanks to an extra day in February. For crude that could be another 775,000 barrels and over US$60M in additional industry revenue! This and other more useful forecasts in our annual review.
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