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GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador, today announced its operational update for the three-month period ended March 31, 2020 (“1Q2020”). All figures are expressed in US Dollars and... Continue Reading →
Newly licensed offshore oil and gas exploration acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels, Rystad Energy has said, as the Norwegian energy market analytics company expects more than half of the world’s planned licensing rounds to be canceled this year due to the combined effect... Continue Reading →
Mar 24, 2020 A price war between global oil giants is leaving many producers in Latin America struggling to cover production costs, increasing the chances of investment cuts and delays in the coming months. Global oil price benchmarks are experiencing their sharpest declines in decades, in a perfect storm, with declining demand in the face... Continue Reading →
March 06, 2020 Petróleo Brasileiro S.A. - Petrobras reports that it has started the opportunity disclosure stage (teaser), referring to the sale of its fuel and lubricant distribution and marketing businesses in Colombia. This project aims to sell 100% of the shares held by Petrobras International Braspetro B.V. (PIB BV) and other Petrobras subsidiaries, in... Continue Reading →
Offshore discoveries accounted for more than 60% of global discoveries in 2019, up significantly on previous years, according to a study by GlobalData. GlobalData report reveals that while Colombia and Norway saw the highest number of discoveries drilled in 2019, Guyana, Mauritania and Russia hosted the most significant finds. Continue reading
Colombia's Ecopetrol and Anglo-Dutch energy giant Royal Dutch Shell have teamed up to develop three blocks in the Caribbean, the state-owned oil company said on Friday. Under the deal, Shell will acquire a 50% operating-stake in the Fuerte Sur, Purple Angel and COL-5 blocks, which are found in deep-water areas of the Colombian Caribbean. Continue... Continue Reading →
Spanish oil company Repsol has exercised a one-well option under its contract for the Maersk Drilling-owned drillship Maersk Valiant for operations offshore Mexico. However, Maersk Drilling said on Wednesday that Repsol would not make use of the second one-well option included in the original contract from June 2019 for the 2014-built Maersk Valiant. Repsol has now exercised... Continue Reading →
Investment in Colombia's oil industry is set to grow by 23% in 2020, the private oil producers association said on Monday, although production will be effectively flat, increasing just 0.5% compared with the previous year. Investment in the Andean country's oil and gas industry this year will jump to $4.97 billion, up from $4.03 billion... Continue Reading →
Geoscience company ION Geophysical has entered into a multi-client agreement with Colombia’s National Hydrocarbon Agency (ANH) granting rights to reprocess existing data and acquire new 2D and 3D multi-client programs offshore Colombia’s Caribbean coast. In February 2019, the ANH announced a series of reforms to encourage investment in exploration and production, such as a permanent... Continue Reading →
GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador, today announced that it has closed the previously announced acquisition of Amerisur Resources Plc. (“Amerisur”) (LON: AMER). GeoPark acquired the entire issued... Continue Reading →
Brazil Energy Insight 