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Frontera Energy said future moves "may include accelerating or increasing share buyback programs, dividend payments, and investments."

The Canadian oil company's operations in the country are now held by the Colombian branch of Meta Petroleum Corporation, a wholly owned subsidiary.

Herbert has worked for BP, Philips Petroleum, and Talisman Energy and has experience working in the oil sector in Colombia.

"The rating upgrade reflects Frontera's ability to stabilize its operational and financial performance," stated Fitch Ratings.

“EIG’s binding proposal is undeniably superior and is clearly in the best interests of creditors, the company, and its other stakeholders," said EIG CEO Blair Thomas.

Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC), formerly known as Pacific Rubiales, has announced the start of operations of Puerto Bahía port facilities in Cartagena, Colombia. The multimodal terminal officially started liquid and general bulk transport...