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Pacific Exploration is selling its 35% stake in the Karoon Blocks in Brazil to Karoon Gas Australia Ltd. for at least $15.5 million.

Pacific Exploration expects to implement its restructuring plan, allowing it to come out of creditor protection, during the week of October 3.

The drilling push is expected to bring Ecopetrol's new well count to 105 in 2016, with 35 additional wells coming to the lucrative Rubiales oilfield.

More than 98% of affected creditors approved the plan, and Pacific Exploration expects to get official sign off from a Canadian court on August 23.

Pacific Exploration & Production Corp. has extended its proxy and election deadline until 5:00 p.m. on August 12, 2016.

The expiration of a contract between Pacific Exploration and Ecopetrol cedes the Canadian firm's 43% stake in the vast Campo Rubiales field to the state-run oil company.

Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC) announced today that the company and its lenders have agreed to extend the Liquidity Deadline to February 4, 2016, “or such later date as the company and its lenders shall agree.” This comes after the oil company...

Pacific Exploration & Production Corp. (TSX: PRE) (BVC: PREC), formerly known as Pacific Rubiales, announced on Thursday that it has elected to utilize the 30 day grace period pursuant to the indentures governing its 5.625% notes due January 19, 2025, and its 5.375% notes due...

Based on statistics available through March of 2015, Colombia’s industrial sector has experienced a negative annualized growth rate through the previous four quarters, led downward by the petroleum sector. This has resulted in decreased tax revenues for municipal and state...