Tag

According to ratings firm Fitch, Half-cycle costs for Latin American oil and gas companies increased only slightly in 2018 by 3 percent, versus an 11 percent increase the prior year, according to a new  report the firm issued. “The 2018 increase was caused by higher lifting...

Colombia’s house of representatives approved as part of its National Development Plan last week, authorization for the Ministry of Mines & Energy to study the possibility of introducing Hydraulic Fracturing, nicknamed “Fracking,” in Colombia. The unconventional petroleum and...

The Regional Association of Oil, Gas and Biofuels Sector Companies in Latin America and the Caribbean (ARPEL) has announced last week its signature of the statement of support to the Women’s Empowerment Principles promoted by UN Women and the United Nations Global Compact....

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.

BP will be the operator of the exploration and has a 50% holding in the block. CNOOC has a 30% interest, with Ecopetrol having rights to 20%.

All shareholders of record at the close of business on January 3 will be eligible to receive the dividend.

Arrow Exploration will bring in $5 million USD by selling a 46.9% interest in what it refers to as the the "deeper section" of the block and a 20% interest in the "shallow section."

"This joint venture forms an important part of Frontera's plans to build growth for the future,” said Gabriel de Alba, chairman of the board of directors of Frontera Energy.

"The increase in the stand-alone credit profile is a recognition of the company's stable operating performance," stated Ecopetrol.

Frontera Energy had been producing an average of roughly 8,950 barrels of oil per day from Block 192.