Recently, Ecopetrol (NYSE:EC) got the public’s attention about the violence in southern Meta with a ‘gee whiz’ estimate of how much oil production was at risk. That got our Analyst thinking about production concentration and risk.
The Sinu San Jacinto bid round was announced with great fanfare on September 12th, 2017. The auction was supposed to have completed before the end of that year. Now, quietly, the date keeps slipping.
Oil prices have stabilized allowing the reactivation of investments, but these are low compared to prior years’ levels. However, the government has a plan to encourage more exploration investments, taking advantage of a better price environment.