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Along with an average reserve life of 7.6 years, Ecopetrol reported net profit of 19.1 trillion Colombian pesos.

By the end of 2020, the Ecopetrol Group's net proven reserves totalled 1,770 million barrels of oil equivalent (MBOE), which represents a 6.5% decrease versus 2019 (1,893 MBOE). The reserves replacement ratio was 48%, with an average reserve life of 7.5 years.

Eléctricas de Medellín – Ingeniería y S.A.S is the buyer in a cash deal for what Frontera Energy called a “non-core asset.”

From Pacific Rubiales to Pacific Exploration to Frontera Energy: Canadian oil company undergoes second rebrand in the past 22 months.

"The group has overcome the period of low oil prices and has returned to the path of growth in production," said CEO Juan Carlos Echeverry.

This represents at least the second unexpected delay this month for Pacific Exploration in finalizing its restructuring plan.

Pacific Exploration said its arrangement with Catalyst will close on October 12, "assuming satisfaction or waiver of the remaining conditions."

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...