Finance Colombia » Exploration

Report: Latin American Petroleum Profits Will Be Only 1/3 Of 2019

During 2020, Latin American oil and gas companies' profitability is expected to decline to one third of 2019 levels, while cash flow is expected to remain under pressure through 2021 as recovery will likely be protracted, according to a new Fitch Ratings report.

Posted On June 8, 2020

, By Loren Moss

Ecopetrol oil and gas company headquarters in Bogotá, Colombia

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Ecopetrol Secures 10% Interest in Saturno Block in Brazilian Santos Basin

Shell, the operator of the exploration plan, and Chevron both hold a 45% interest in the block. With the deal, Ecopetrol now holds the remaining 10% stake.

Posted On December 21, 2018

, By Jared Wade

oil drilling rig (Photo credit: ARMBRUSTERBIZ / Pixabay)

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Frontera Energy Turnaround Continues with $45.1 Million USD in Net Income This Quarter

Frontera's oil-price hedges have now expired, and it believes that this will be a boon for future earnings as it tries to further move beyond its most trying financial times.

Posted On November 13, 2018

, By Jared Wade

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Ecopetrol Reports Big Jump with Profits of $866 Million in the Third Quarter Amid Surging Oil Prices

"We were able to capture the profit coming from the higher international oil prices," said Ecopetrol CEO Felipe Bayón.

Posted On November 10, 2018

, By Jared Wade

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Frontera Energy Discovers Oil at Acorazado-1 Exploration Well in Los Llanos

The find came at the Acorazado-1 exploration well and marked the Canadian oil company’s fourth discovery in 2018.

Posted On October 9, 2018

, By Jared Wade

Oil rig (Photo credit: Catmoz / Pixabay)

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Ecopetrol Wins Joint Bid to Explore Pau-Brasil Oil Block in Vast Santos Basin off Brazilian Coast

Colombian state-controlled oil company Ecopetrol (NYSE: EC) (BVC: ECOPETROL) was among the exploration block winners today at an auction in Brazil and now holds the rights to a portion of the oil extracted from the Santos basin off the coast of South America’s largest...

Posted On September 28, 2018

, By Jared Wade

gran tierra energy colombia oil colombian peso geopark Orinoquia Capital frontera energy pacific exploration and production

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After Successful Exploratory Drilling, Frontera Energy to Begin Further Testing of Acorazado-1 Well in Los Llanos

The next step for the well will be to run and cement a liner in preparation for further testing, which is expected to take “several weeks,” said Frontera.

Posted On August 18, 2018

, By Jared Wade

oil colombia minminas (Photo credit: Ministerio de Minas y Energía)

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Frontera Energy Closes on New $100 Million USD Credit Facility

Following an initial eight-month term, the credit facility is expected to be extended to two years “upon satisfaction of certain extension conditions."

Posted On May 22, 2018

, By Jared Wade

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Frontera Energy Sees Year-Over-Year Production and Sales Declines in First Quarter

Despite high oil prices, Frontera realized just $249.5 million USD in sales in the quarter compared to $316.6 million USD in the first quarter of 2017.

Posted On May 15, 2018

, By Jared Wade

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