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The public offering will take place before the start of common stock trading in the Colombian Stock Exchange on February 15.

"GeoPark’s active drilling program in the first half of 2017 is already paying off," said company CEO James F. Park.

"Investment reductions are expected to affect its ability to replenish reserves in the long run above production levels," said Lucas Aristizabal of Fitch.

The 40-year industry veteran will be based in Bogotá once he officially takes over the position on February 20.

Ecopetrol did not identify who attacked the pipeline, but a Reuters reports states that military sources believe ELN guerrillas were responsible.

The company says it will ship some 500,000 tonnes of metallurgical coal from Colombia to China in 2017.

The company spent around $2 million USD to drill this infill well to a total depth of nearly 8,500 feet in about two weeks.

The funding calls for CAF to develop the project jointly with German development bank KfW.

The Tigana field is now generating roughly 17,000 barrels of oil equivalent per day.

Output at this historic site peaked at 60,000 barrels per day in 1939 but that number fell to a mere 5,000 by 2003.