(Energy Analytics Institute, Ian Silverman, 12.Jun.2018) â Canadaâs Frontera Energy Corporation continues its active drilling program in Colombia. The company had six (6) drilling rigs operating continuously in the first two months of the second quarter of 2018, of which three (3) were active in the Quifa heavy oil area, […]
Category: Colombia
Colombia energy
Frontera Loan to Puerto Bahia
(Energy Analytics Institute, Ian Silverman, 12.Jun.2018) â Frontera Energy Corporation entered into an unsecured loan agreement with Puerto Bahia. The agreement is pursuant to which Frontera has agreed to loan an aggregate amount of $30.46 million to Puerto Bahia, subject to certain terms and conditions. The loan bears an annual […]
Frontera Announces Details Of Share Split
(Energy Analytics Institute, Ian Silverman, 12.Jun.2018) â The offer will consist of a two-for-one share split of the company’s issued and outstanding common shares. The record date of the Share Split will be June 21, 2018 at the close of business, announced Frontera Energy Corporation in an official statement. The […]
Colombiaâs ANH Denies Fracking Plans in BoyacĂĄ
(Energy Analytics Institute, Jared Yamin, 8.Jun.2018) â Colombiaâs National Hydrocarbon Agency (ANH by its Spanish acronym) says it has no plans to carry out fracking activities in BoyacĂĄ department. The ANH, which is studying the subsoil in the area, plans to utilize very low impact geophysical acquisition tools, such as […]
Q&A: Greening Colombiaâs Energy Mix
(Inter Press Service, Constanza Vieira, 6.Jun.2018) â Colombia is a global power in biodiversity and water resources, but at the same time it depends on exports of fossil fuels, coal and oil, to the world. But donât panic: in the green economy there are also incomes and jobs â says […]
Brookfield Buys Remaining Interest in Gas Natural Fenosa
(Energy Analytics Institute, Jared Yamin, 29.May.2018) â- Spainâs Gas Natural Fenosa is finally exiting Colombia. The company sold 15.46 million shares, representing the remaining 41.89% interest in gas distributor Gas Natural ESP, to Canadaâs Brookfield Asset Management, which had officially launched a takeover bid, announced the daily La Republica, citing […]
Ecopetrol to Invest COL$94.5 Bln on Infrastructure
(Energy Analytics Institute, Jared Yamin, 28.May.2018) â- Ecopetrol plans to invest a total of COL$94.5 billion Colombian pesos on infrastructure and education. The funds for the seven projects will come from taxes, and will be destined for six Colombian departments, announced the state oil company in a Twitter post. Department […]
Ecopetrol Says TibĂș Field Affected by Continued Sabotage
(Energy Analytics Institute, Jared Yamin, 27.May.2018) â- Thefts of elements from producing wells coupled with infrastructure sabotage at the TibĂș field in the municipality by the same name in Northern Santander continue to harm the environment and neighboring communities. To date in 2018, Colombiaâs state oil company Ecopetrol has registered […]
Canacol Announces Timing of 2018 Shareholders Meeting
(Energy Analytics Institute, Ian Silverman, 26.May.2018) â Canacol Energy Ltd., the exploration and production company with operations focused in Colombia, announced its Annual General Meeting of Shareholders will be held on July 3, 2018, in Calgary, Canada. Canacol’s common stock trades on the Toronto Stock Exchange, the OTCQX in the […]
IMF Approves New $11.5 Bln Colombia Credit
(Energy Analytics Institute, Jared Yamin, 25.May.2018)Â Â â The International Monetary Fund (IMF) approved a new two-year flexible credit line with Colombia for nearly $11.4 billion. The new credit replaces the former one, which was approved in 2016, reported the daily newspaper El Espectador. ***
Ecopetrol to Initiate Drilling of 19 Wells in AkacĂas
(Energy Analytics Institute, Ian Silverman, 24.May.2018) â Ecopetrol and Talisman Colombia Oil & Gas (TCOG), a company of Repsol group, plan to initiate drilling of new production wells in late May 2018 at the AkacĂas field, located in the AcacĂas municipality in Meta. Activities slated for the AkacĂas field development […]
Canacol Mobilizes Rig to Drill Borojo 1 Well in Colombia
(Energy Analytics Institute, Aaron Simonsky, 24.May.2018) â Canacol Energy Ltd. announced it has mobilized a rig to drill the Borojo 1 exploration well. Located on the 100% operated Esperanza E&E contract, the Borojo 1 well will target gas-bearing reservoirs located in the Cienaga de Oro sandstones, announced Canacol in a […]
Ecopetrol Plans Social Investments of 1.3 Bln Pesos in Meta
(Energy Analytics Institute, Ian Silverman, 24.May.2018) â Colombiaâs state oil company Ecopetrol announced plans to make social investments of 1.3 billion Colombian pesos in Meta department, where the company and its partner Talisman Colombia Oil & Gas (TCOG) operate in the AcacĂas municipality. Investments will be directed to the immediate […]
Energy, Education, and Learning Through NRG ED
(Energy Analytics Institute, Aaron Simonsky, 24.May.2018) â Energy Analytics Institute, formerly LatinPetroleum Inc., continues to promote its âEnergy Education Initiativeâ in the Americas, also known as âNRG ED.â NRG ED is structured to work with K-12 schools, community colleges, four-year colleges and universities, workforce training programs, communities and businesses, and […]
Canacol Reports 3rd Colombian Gas Discovery at Breva 1
(Energy Analytics Institute, Jared Yamin, 24.May.2018) â Canacol Energy Ltd. announced results of the Breva 1 natural gas exploration well located on its 100% operated VIM 21 block in the Lower Magdalena Valley Basin of Colombia. The Breva 1 exploration well is located approximately 1.5 kilometers north of the Toronja […]
Building Momentum â Oil and Gas in Latin America
(By Rodolfo Guzman, Paola Perez, Paola Carvajal, Roberto Imperatore, Arthur D. Little, 22.May 2018) â Unconventional oil production has grown these past few years despite low oil prices since 2014. Although production in the US decreased in 2015, stabilization of prices and improvements in several operational areas allowed unconventionals to […]
Fire at Barrancabermeja HDT Plant Controlled
(Energy Analytics Institute, Aaron Simonsky, 21.May.2018) â Colombiaâs state oil company Ecopetrol announced that it has controlled a fire at the HDT plant of the Barrancabermeja refinery. No injuries were reported and the refinery is operating normally, according to Ecopetrol. Ecopetrol workers brought the fire — which occurred at the […]
Canacol Looks to Divest Non-Core Assets in Colombia
(Canacol Energy Ltd., 16.May.2018) â Canacol Energy Ltd. announced plans to divest of non-core Colombian conventional oil assets, among other management objectives for 2018. These objectives include: 1) sell an average of 114 to 129 MMscfpd of gas and 1,700 bopd (âbarrels of oil per dayâ), 2) execute the necessary […]
Canacol Energy Ltd. Reports 24% Increase in 1Q:18 Revenues
(Canacol Energy Ltd., 15.May.2018) â Canacol Energy Ltd. reported its financial and operating results for the three months ended March 31, 2018. âThe first quarter of 2018 was an important milestone for Canacol, as it represents the first full quarter where the Corporation had access to the newly completed Sabanas […]
Colombiaâs Gas Reserve Life up to 11.7 Years in 2017
(Energy Analytics Institute, Aaron Simonsky, 14.May.2018) â Colombia’s natural gas reserve life ratio rose 13.6% year-over-year. Colombiaâs Mines Ministry said the South American country had boosted its natural gas reserve life ratio to 11.7 times or 11.7 years in 2017 due to rising reserves and reduced consumption. The details, provided […]
Ecopetrol Profit Rises Nearly 200% in First Quarter
(Reuters, 4.May.2018) â Ecopetrol, Colombia’s state-run oil company, said on Thursday that its first quarter net profit rose to 2.6 trillion pesos ($923.3 million), up 195 percent from the same period in 2017, thanks to improved efficiencies and higher crude prices. The results were the best first quarter showing in […]
Ecopetrol Provides Update on Emergency in Tumaco
(Energy Analytics Institute, Jared Yamin, 2.May.2018) â Colombiaâs Ecopetrol published a brief update on emergency operations in Tumaco. In the area there are more than 100 workers, 9 control points (La Espriella, La Cortina, La Chorrera, El Muerto, La Brava, Pueblo Nuevo, Tangarial 1, Dos Quebrados, and Boca de CaunapĂ), […]
ECLAC Ssays Venezuelaâs Economic Activity to Fall 8.5% in 2018
(Energy Analytics Institute, Aaron Simonsky, 1.May.2018) â The United Nations Economic Commission for Latin America and the Caribbean, also known as ECLAC or CEPAL by its Spanish acronym, projects economic activity in troubled Venezuela will contract 8.5% in 2018. Gross domestic product or (GDP) estimates for other important countries and […]
ConocoPhillipsâs Interest in Colombia
(Energy Analytics Institute, Aaron Simonsky, 25.Apr.2018) — ConocoPhillips is active in Colombia in the Middle Magdalena Basin at VMM-3 and VMM-2, where it serves as operator at both blocks, the company reported in a Fact Sheet updated on its website in March 2018. A short summary of its Colombian interests […]
EPM Installs Colombia’s ‘First’ Floating PV Project
(PV-Tech, Tom Kenning, 18.Apr.2018) â Colombian utility EPM has installed what it claims to be the countryâs first floating solar plant, standing at 100kW at the El Peñol reservoir. The pilot project will test the technology and its fundamentals in comparison to ground-mount and rooftop systems. For this purpose, traditional […]
Colombia March Crude Output up 6.5% vs Year Ago
(Reuters, 17.Apr.2018) â Crude oil production in Colombia reached an average of 856,478 barrels per day (bpd) in March, the Mines and Energy Ministry said on Monday, up 6.5 percent compared with the same month a year ago. Natural gas production for March totaled 937.4 million cubic feet per day, […]
Ecopetrol Reports Highest Net Income in Last 4 Years
(Energy Analytics Institute, Jared Yamin, 15.Apr.2018) â- During the first three months of 2018, Ecopetrol reported its highest quarterly net income in the last four years. Colombiaâs state oil company Ecopetrol announced its net income rose 195% in the first quarter of 2018 to COL$2,625 billion Colombian pesos compared to […]
Colombia’s Attorney General to Investigate Ecopetrol Oil Spill
(Reuters, 3.Apr.2018) â Colombia’s attorney general’s office on Monday launched an investigation to determine whether officials from state-run oil company Ecopetrol could be held criminally responsible for a oil spill of 550 barrels in Santander province. The Lisama 158 well, which was in the process of being shut down because […]
Frontera Energy to Double Investment in Colombia, Peru
(Reuters, 2.Apr.2018) – Canada’s Frontera Energy Corp named a new chief executive on Monday, and said it plans to more than double its investment in operations in Colombia and Peru during 2018, to up to $500 million. Frontera will direct between $225 million and $240 million of investment to new […]
Expert Urges Faster Global Transition to Clean Energy
(Efe, 23.Mar.2018) â The world must accelerate its transition from a carbon-based to a clean energy-based economy to put the brakes on a climate catastrophe that already causes 4.8 million deaths annually, the director of an organization that aims to facilitate understanding of global climate change said Friday at a […]
Colombia And A Shift To Unconventional Oil And Gas?
(McDaniel, 30.Sep.2017) â Colombia is a positive example of a country re-structuring but investment is still required to replenish reserves & production levels, according to McDaniel & Associate Consultants Ltd.âs Derrick Dao, P. DOWNLOAD REPORT: Colombia: a shift to unconventional oil and gas? __________ By McDaniel & Associate Consultants Ltd.âs […]
Pacific Changes Name To Frontera Energy Corporation
(Pacific Rubiales, 12.Jun.2017) â Pacific Exploration & Production Corporation changed its corporate name to Frontera Energy Corporation to mark the beginning of a new era for the Company. The Company’s common shares are expected to commence trading on the Toronto Stock Exchange under the new name and ticker symbol TSX:FEC […]
SAExploration Signs Three Year Agreement With Hocol In Colombia
(SAExploration, 12.Apr.2017) â SAExploration Holdings, Inc. (SAE) announced the signing of a three year agreement with Hocol S.A. to be its provider of seismic acquisition services in Colombia. Founded in 1956, Hocol S.A. is a subsidiary of Ecopetrol S.A., the national oil company in Colombia, and is focused on exploration […]
Colombia to Benefit from Internationalizing Currency
(Energy Analytics Institute, Ian Silverman, 15.Mar.2017) â The Oxford Business Group said that Colombia only stands to benefit from further internationalizing its currency as it attempts to diversify its sources of foreign exchange, reported the Trinidad Guardian newspaper, citing a report last month launched at Lloyds of London during a […]
Colombiaâs TermoCandelaria Fined 35.4 Bln Pesos
(Energy Analytics Institute, Jared Yamin, 10.Mar.2017) â Colombian energy generator TermoCandelaria was fined 35,410 million pesos, equivalent to 48,000 minimum salaries, by the countryâs Public Services Superintendent. The entity justified its fine by saying the company had put the entire electrical system at risk in an âunjust mannerâ during a […]
Gran Tierra to Make Normal Course Issuer Bid
(Gran Tierra Energy Inc., 1.Mar.2017) â Gran Tierra Energy Inc. intends to implement a normal course issuer bid through the facilities of the Toronto Stock Exchange (TSX) and the NYSE MKT. Pursuant to the Bid and subject to regulatory approval, Gran Tierra would be able to purchase for cancellation up […]
GeoPark Announces Expansion of Tigana/Jacana
(GeoPark Limited, 2.Mar.2017) â GeoPark Limited announced the successful drilling and testing of the Jacana 11 appraisal well in the Jacana oil field in the Llanos 34 Block (GeoPark operated with a 45% working interest) in Colombia. GeoPark drilled and completed the Jacana 11 appraisal well to a total depth […]
Gran Tierra Energy Provides Operational Update
(Gran Tierra Energy Inc., 1.Mar.2017) â Gary Guidry, President and Chief Executive Officer of Gran Tierra, commented “2017 is off to an exciting start for Gran Tierra. We are pleased to report that the Acordionero field in the Middle Magdalena Basin continues to exceed our expectations and are encouraged by […]
Ecopetrolâs Annual General Shareholders’ Meeting
(Ecopetrol, 27.Feb.2017) â The Chief Executive Officer of Ecopetrol S.A. announced details of the Annual General Shareholders’ Meeting held on March 31, 2017 at the International Center of Business and Exhibitions (Centro Internacional de Negocios y Exposiciones, Corferias), BogotĂĄ, Colombia. The agenda for the meeting included: — Safety guidelines — […]
Ecopetrol Reserves Fall to 1,598 MMboe in 2016
(Ecopetrol S.A., 17.Feb.2017) â This valuation was made at a regulatory price of $44.5/barrel, lower prices negatively impacted 202 million barrels ⊠Ecopetrol S.A. announced its proven reserves (1P, according to the international designation) of crude oil, condensate and natural gas owned by the company, including its interest in affiliates […]
Ecopetrol Auction Related to EEB Declared Void
(Ecopetrol S.A., 15.Feb.2017) â Ecopetrol S.A. reported results of the fourth auction corresponding to Stage Two of the Program to Transfer and Award its 28,465,035 shares of Empresa de EnergĂa de BogotĂĄ S.A. E.S.P. The bidding session was declared void. ***
FSRU Höegh Grace Receiving Cargo In Colombia [Video]
(LNG World, 10.Feb.2017) â Norway-based Höegh LNGâs FSRU Höegh Grace began commercial operations in Cartagena, Colombia at the end of last year. The Höegh Grace, used as Colombiaâs first LNG import terminal, started operating under the 20-year contract Höegh LNG has with Sociedad Portuaria El Cayao (SPEC), after completing the regasification trials. […]
Ecopetrol Notice for Empresa de EnergĂa de Bogota
(Ecopetrol S.A., 8.Feb.2017) â Ecopetrol S.A. announced on February 8, 2017, as established in the Offering Notice of Second Stage, the company published the offering notice regarding the fourth auction for the second stage of Ecopetrol’s equity divestment plan for its shares in Empresa de EnergĂa de Bogota S.A. E.S.P. […]
GeoPark Says 2P Reserves Valued at $1.9 Bln
(GeoPark Limited, 6.Feb.2017) â GeoPark Limited announced its independent oil and gas reserves assessment, certified by DeGolyer and MacNaughton (D&M), under PRMS methodology, as of December 31, 2016. Year-End 2016 D&M Certified Reserves and Company Highlights: — Per Share Value: Net debt adjusted 2P NPV10 increased by 19% to $23.6 […]
GeoPark Announces Development Successes in Colombia
(GeoPark Limited, 2.Feb.2017) â GeoPark Limited announced new drilling successes in the Llanos 34 Block (GeoPark operated with a 45% working interest), in Colombia, consisting of: Discovery of the new Chiricoca oil field, following the successful drilling and testing of the Chiricoca 1 exploration well, and Further expansion of the […]
Gran Tierra Reports 4Q:16 and YE:16 Results
(Gran Tierra Energy Inc., 30.Jan.2017) â Gran Tierra Energy Inc. announced its financial and operating results for the fourth quarter and year ended December 31, 2016. Unless otherwise expressly stated, all reserves and resources values have been calculated in compliance with Canadian National Instrument 51-101 – Standards of Disclosure for […]
Gran Tierra Reports 91% Rise in 2P Reserves
(Gran Tierra Energy Inc., 23.Jan.2017) â Gran Tierra Energy Inc. announced its 2016 year-end estimated reserves as evaluated by independent qualified reserve evaluator McDaniel & Associates Consultants Ltd. in a report with an effective date of December 31, 2016. Gran Tierra has also updated its corporate presentation, which is available […]
Venezuela Sales Gasoline in Colombian Pesos
(Energy Analytics Institute, Piero Stewart, 4.Jan.2017) â Venezuela, the South American country with the regionâs largest crude oil and natural gas reserves, initiated the sale of its gasoline in ParaguachĂłn, located in the La Guajira Department in Colombia. Cooperation between the governments of Colombia and Venezuela has allowed activities to […]
GeoPark Announces Drilling Success in Colombia
(GeoPark Limited, 4.Jan.2017) â GeoPark Limited announced the successful drilling and testing of the Tigana Sur 4 development well in the Tigana oil field in the Llanos 34 Block (GeoPark operated with a 45% working interest) in Colombia, resulting in consolidated net exit production of approximately 24,400 boepd. GeoPark drilled […]
GeoPark Appoints Dingman to Its Board of Directors
(GeoPark Limited, 4.Jan.2017) â GeoPark Limited announced appointment of Mr. Michael D. Dingman as a new member of the Board of Directors of the company, effective January 1, 2017. Dingman is a respected and successful international investor, businessman and philanthropist, with more than 50 years of investment experience and an […]