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

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.

The depressed global oil prices have not been kind to Pacific Rubiales, Colombia’s largest independent oil producer. Heavily staffed with refugees from Venezuela’s PDVSA, the company is finding it even more challenging to create shareholder value than its other petroleum sector...