South America Archives - Page 27 of 28 -

GeoPark Increases Stake in Colombia and Chile, Announces Share Buy Back

December 21, 2018

Latin America-based GeoPark Limited (stock ticker: GPRK) has been extending its reserves and announced plans to buy back shares in 2019. Last month, GeoPark increased its equity interest to 100% in its Colombian and Chilean businesses, blocks, and reserves, including the Llanos 34 block (GeoPark operated, 45% WI) in Colombia. In doing so, GeoPark acquired and closed on LG InternationaI’s

Slow Deepwater Rebound Threatened by Rising Rig Costs, Falling Oil Prices

November 30, 2018

From Houston Chronicle The slow deepwater recovery in the Gulf of Mexico and the rest of the world is now threatened by falling oil prices and the projected cost rise of drilling rigs and other services. A new report Tuesday by research firm Wood Mackenzie highlights how the offshore sector has returned to viability through costs reductions and greater

Light Oil Discovery in Colombia

October 9, 2018

Toronto-based Frontera Energy Corporation (ticker: FECCF) announced a light oil discovery in the Llanos-25 Block in Colombia. The discovery was made on the Acorazado-1 exploration well. According to a presentation from Frontera, the Llanos-25 property is a 168,805-acre property for which the company has 100% working interest. “The Acorazado-1 exploration well is the fourth exploration discovery in Colombia so far in 2018,

Two PDVSA Oil Upgraders to be Halted in Coming Weeks

July 17, 2018

From Reuters Two of Venezuela’s four crude upgraders are scheduled to undergo previously delayed maintenance in the next few weeks, according to three sources close to the facilities, further reducing state-run PDVSA’s exports of upgraded crude. The upgraders, which convert the extra-heavy oil produced in Venezuela’s Orinoco Belt into exportable grades, have a combined 700,000 barrel-per-day (bpd) capacity. The maintenance

GeoPark to Present at The Oil and Gas Conference

July 3, 2018

GeoPark (NYSE: GPRK) Company Overview GeoPark, founded in 2002, is an independent Latin American oil and gas explorer, operator and consolidator with assets and growth platforms in Argentina, Brazil, Chile, Colombia and Peru. GeoPark is currently ranked the third-largest private oil and gas operator in Colombia and the first private oil and gas producer in Chile. Recently expanded into the

Canacol Energy Ltd.: Largest Caribbean Supplier of Natural Gas

March 27, 2018

Calgary’s Canacol Energy Ltd. (ticker: CNE) recorded a net loss of USD$148 million for the year ended December 31, 2017, or $(0.48) per share – this compares to a net income of $23.6 million for the same period in 2016. For Q4 2017, the company had a net loss of $150.3 million, or $(0.85) per share – this compares to

GeoPark Produced 10.2 MMBOE in 2017, Receives Reserve Report

February 5, 2018

‘For every barrel produced, we replaced it with almost three proven barrels’ – GeoPark CEO James Park EnerCom Dallas presenter GeoPark Limited (ticker: GPRK) recently received an independent appraisal of reserves covering 100% of the company’s assets in Colombia, Chile, Brazil, Peru and Argentina. Following GeoPark’s oil and gas production of 10.2 MMBOE in 2017, the company received certified 2P

EnerCom Dallas Conference Presenter: GeoPark Limited

January 12, 2018

GeoPark Limited (ticker: GPRK) is a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Brazil, Argentina, Chile and Peru. The company has 29 blocks in nine basins across five countries – approximately 6 million acres. GeoPark’s 3P reserve estimates project that 235 MMboe can be developed. In 2017 the company

GeoPark Issues Operational Update

January 10, 2018

GeoPark Limited (ticker: GPRK), an independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Brazil, Argentina, Chile and Peru, issued an operational update. GeoPark’s 2018 work program and budget is $100-$110 million. The company is targeting the drilling of 30-plus wells, representing a 15-20% production increase over 2017 average levels. The projects

Gran Tierra Energy Plans 27% Production Growth

December 18, 2017

Gran Tierra Energy Inc. (ticker: GTE) has released its 2018 capital budget and production guidance. Highlights 2018 average production of 36,500 to 38,500 BOEPD, representing growth of 20 to 27% over 2017 year to date average production 2018 capital budget of $250-270 million 2018 cash from operating activities forecast of $265-285 million at $57/barrel (Brent oil price) The company operates over

$2.8 Billion: Statoil Acquires 25% Stake in Roncador, Brazil

December 18, 2017

Statoil ASA (ticker: STO) and Petroleo Brasileiro S.A. – Petrobras (ticker: PBR) have agreed that Statoil will acquire a 25% interest in Roncador, a large oil field in the Campos Basin in Brazil. The transaction nearly triples Statoil’s production in Brazil. Total consideration comprises an initial payment of $2.35 billion, plus additional contingent payments of up to $550 million. “This

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Ecopetrol Makes 2nd Oil Discovery in Columbia, $3.5-$4 Billion Investment Plan

December 18, 2017

Ecopetrol (ticker: EC) said that the Coyote-1 well confirmed the presence of oil in the Middle Magdalena Valley basin in Santander. The finding was recorded between 2,042 and 2,177 meters in depth, confirming the presence of medium crude. The API ranges between 25°-28°, which is lighter and more liquid than heavy Colombian crudes in the Esmeraldas formation. The Coyote-1 is

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