Colombia will offer up to 40 blocks for auction at its next oil round, the president of the national hydrocarbons association (ANH) said Nov. 20, after awarding just four blocks in its most recent sale.
“We have between 30 and 40 blocks,” Armando Zamora, said in a virtual press conference for an annual oil and gas conference. “The map is open and will remain open so that companies which want to show interest in another area can do so.”
Zamora did not give an exact date for the next round, nor respond to a question about how much the country hoped to earn from possible contracts.
CNE Oil & Gas, a subsidiary of Canacol Energy Ltd., and the Colombian arm of Parex Resources Ltd. each made two unchallenged bids on two blocks at the most recent auction, which concluded earlier this week.
The offers have an estimated value of $40 million.
Recommended Reading
Pembina Pipeline Enters Ethane-Supply Agreement, Slow Walks LNG Project
2024-02-26 - Canadian midstream company Pembina Pipeline also said it would hold off on new LNG terminal decision in a fourth quarter earnings call.
TC Energy's Keystone Oil Pipeline Offline Due to Operational Issues, Sources Say
2024-03-07 - TC Energy's Keystone oil pipeline is offline due to operational issues, cutting off a major conduit of Canadian oil to the U.S.
TC Energy’s Keystone Back Online After Temporary Service Halt
2024-03-10 - As Canada’s pipeline network runs full, producers are anxious for the Trans Mountain Expansion to come online.
Post $7.1B Crestwood Deal, Energy Transfer ‘Ready to Roll’ on M&A—CEO
2024-02-15 - Energy Transfer co-CEO Tom Long said the company is continuing to evaluate deal opportunities following the acquisitions of Lotus and Crestwood Equity Partners in 2023.
Waha NatGas Prices Go Negative
2024-03-14 - An Enterprise Partners executive said conditions make for a strong LNG export market at an industry lunch on March 14.