World Oil (Bloomberg) – NG Energy International Corp. expects an eight-fold boost in its natural gas production in Colombia after a new field begins production next year. The Toronto-based company sees its natural gas production rising to 60 MMcfd in the third quarter of 2024 as its Sinu-9 block comes online in the Lower Magdalena basin, according to Chief Financial
Nasdaq BOGOTA – Colombia’s majority state-owned oil company Ecopetrol on Thursday reported a new oil and gas discovery in Putumayo province. The Alqamari-2 well was drilled to a depth of 9,287 feet and saw daily flow of 1,800 barrels of oil, Ecopetrol said in a statement. The oil is a light hydrocarbon. The rate of associated gas that the well
World Oil (Bloomberg) – Ecopetrol SA’s top manager called for Colombia’s government to drop its opposition to new oil exploration, apparently revising his view that the ban was responsible. Chief Executive Officer Ricardo Roa told investors that he hoped more oil contracts and bidding rounds for exploration blocks would be forthcoming. “That’s what gives an oil company long-term stability,”
World Oil Publisher’s Note: Canacol Energy will be a presenter at EnerCom Dallas- The Energy Investment & ESG Conference in Dallas on April 18-19, 2023. Register now. (WO) — Canacol Energy Ltd. made three gas discoveries at Dividivi 1, Saxofon 1, and Chimela 1 in Colombia’s Middle Magdalena basin. The company also provided updates regarding its near-term drilling programs. Saxofon
World Oil (Bloomberg) –Colombia’s presidential front-runner Gustavo Petro is calling on ideological allies across Latin America and the world to join him in forming a new bloc to lead the economy away from fossil fuels. Oil and coal currently account for nearly half of Colombia’s exports, but Petro says if he becomes president this year, he’ll push to start phasing
Oil and Gas 360 STRONG FREE CASH FLOW GENERATION FUNDS INCREASED DEVELOPMENT AND EXPLORATION PROGRAM, DEBT REDUCTION AND BALANCE SHEET STRENGTHENING, AND CASH DIVIDENDS TO SHAREHOLDERS Bogota, Colombia – May 5, 2021 – GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia,
CALGARY, Alberta, April 21, 2021 (GLOBE NEWSWIRE) — Canacol Energy Ltd. (“Canacol” or the …
Reuters BOGOTA – Colombia’s majority state-run oil company, Ecopetrol, will make up to $15 billion of organic investment between 2021 and 2023, it said on Tuesday, as it reported an 87.3% drop in 2020 net profit.The company will invest $12 billion to $15 billion over the next three years, Ecopetrol said in a statement, averaging $4 billion to $5 billion
Reuters BOGOTA – Colombia will hold a second bidding round to potentially grant contracts to companies interested in exploring non-conventional oil and gas deposits, using techniques like fracking, the National Hydrocarbons Agency (ANH) said. Majority state-owned oil company Ecopetrol ECO.CN, Exxonmobil XOM.N, and Drummond already have contracts for investigative projects and may submit offers in this new round, as can other companies,
Reuters BOGOTA – Colombia’s state-run oil company Ecopetrol ECO.CN will look to increase the number of exploratory wells it has planned through 2022 to up to 45 in a bid to further bolster reserves, company executives said on Wednesday. Ecopetrol will also roll over $434 million in debt set to expire this year, the executives said. Ecopetrol drilled 20 wells
Houston Chronicle California oil major Chevron has entered into a deal to sell its natural gas assets in the South American nation of Colombia. In a statement released Tuesday afternoon, Chevron confirmed the sale of its stake in a joint venture with Colombia’s state-run oil company Ecopetrol. Under the deal, Chevron is selling its 43 percent share of the Guajira
By Tyler Losier, Energy Reporter, Oil & Gas 360 Occidental Petroleum and Ecopetrol S.A. form joint venture in the Midland Basin Occidental Petroleum Corporation (stock ticker: OXY), the fourth largest public E&P by market capitalization, has formed a joint venture (JV) with Colombia-based Ecopetrol S.A. (stock ticker: EC) to develop 97,000 net acres of Occidental’s Midland Basin properties, subject to
