(Energy Analytics Institute, Piero Stewart, 11.Apr.2019) — Heard on the street and LatAmNRG briefs related to Frontera Energy Corporation and its operations in Colombia, Peru, Guyana and Ecuador.
Ralph Coffman Expected To Spud Offshore Guyana In 3Q:19
(Frontera, 11.Apr.2019) — Frontera says a definitive rig agreement was executed w/ Rowan Rigs S.A R.L and CGX for use of the Ralph Coffman offshore jack-up rig, which is expected to start in 2Q:19 with an expected 3Q:19 spud date. All the required activity is being undertaken to ensure the Utakwaaka-1 exploration well will be drilled by 27 Nov. 2019 to satisfy the contractual commitment.
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Colombia Production Up Year-Over-Year
(Frontera, 11.Apr.2019) — Frontera says its Colombia production averaged approximately 65,560 boe/d in the first quarter of 2019, an increase of 4% from the fourth quarter of 2018 as a result of increased production at Quifa following the commissioning of the water handling expansion project and continued stable production at Guatiquia, assisted by the Candelilla-7 development well which is currently producing at a stable rate of approximately 2,000 bbl/d. The company’s first quarter 2019 Colombia production was the highest since the fourth quarter of 2017.
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Peru Output Down Due To Shutdown Of Block 192
(Frontera, 11.Apr.2019) — Frontera says its Peru production in the first quarter of 2019 averaged an estimated 2,370 bbl/d a decrease of 73.6% compared to the fourth quarter of 2018 due to the shutdown of Block 192 as a result of a force majeure event relating to the NorPeruano pipeline from November 27, 2018 until March 1, 2019.
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Frontera Awarded Perico And Espejo Blocks In Ecuador
(Frontera, 11.Apr.2019) — Frontera says on 9 April 2019, as part of the Intracampos bid round held on 12 March 2019, the Hydrocarbons Bids Committee resolved to recommend to the Ministry of Energy and Non-Renewable Natural Resources the award of the Tender Blocks in the XII Round. In that round Frontera was awarded the Perico and Espejo blocks in the Intracampos bid round in Quito, Ecuador (Frontera 50% WI).
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