Thursday, August 15, 2024
Oil & Gas 360

Gran Tierra Energy Plans 27% Production Growth

Gran Tierra Energy Inc. (ticker: GTE) has released its 2018 capital budget and production guidance. Highlights 2018 average production of 36,500 to 38,500 BOEPD, representing growth of 20 to 27% over 2017 year to date average production 2018 capital budget of $250-270 million 2018 cash from operating activities forecast of $265-285 million at $57/barrel (Brent oil price) The company operates over

$2.8 Billion: Statoil Acquires 25% Stake in Roncador, Brazil

Statoil ASA (ticker: STO) and Petroleo Brasileiro S.A. – Petrobras (ticker: PBR) have agreed that Statoil will acquire a 25% interest in Roncador, a large oil field in the Campos Basin in Brazil. The transaction nearly triples Statoil’s production in Brazil. Total consideration comprises an initial payment of $2.35 billion, plus additional contingent payments of up to $550 million. “This

The World's Coming Mega-Population Centers and the Energy They Will Need

Ecopetrol Makes 2nd Oil Discovery in Columbia, $3.5-$4 Billion Investment Plan

Ecopetrol (ticker: EC) said that the Coyote-1 well confirmed the presence of oil in the Middle Magdalena Valley basin in Santander. The finding was recorded between 2,042 and 2,177 meters in depth, confirming the presence of medium crude. The API ranges between 25°-28°, which is lighter and more liquid than heavy Colombian crudes in the Esmeraldas formation. The Coyote-1 is

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