Colombia’s elections shrouded by distrust in government
Colombia’s opposition embarrassed after Honduras finds $68K on...
“Colombia’s most wanted FARC dissident killed in Venezuela”
Colombia’s election campaigns come to an end amid...
Francia Marquez
Colombia investigating attacks against media and journalists
Why State mafia allies threaten Colombia’s democracy
Colombia’s establishment candidate disappoints in election polls
Colombia’s far-right trying to postpone presidential elections
Colombia’s opposition embarks on anti-election fraud offensive
  • About
  • Support
  • Newsletter
  • Contact
Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion
oil_col_f_todanoticia
(Photo: Todanoticia)
News

Canada’s Canacol increases output after new field discovered in east Colombia

by Charlie de Rivaz October 24, 2013

Canadian-based oil company Canacol Energy announced on Wednesday that it had increased its production in the third trimester of the year by 12 percent after discovering a new oil field.

The rise in production owes to successful drilling in the fifth crude oil pool in their Labrador field, located in the middle of the eastern Colombian state of Casanare. The new ‘Labrador 5’ pool, found after drilling down 3.3km, is now contributing an extra 778 barrels of oil per day.

Canacol Energy, who have 26 exploration and production contracts across Colombia and Ecuador, reported a production of 9271 barrels per day in the third trimester of the year.

In the first three weeks of October they claim to have been producing 9483 barrels per day, without counting the new output from Labrador 5.

The increase in production is good news for the Calgary-based company, after they reported heavy losses in the last financial year – ending June 30 – thanks to reduced output in their Rancho Hermoso field in Colombia.

The multinational reported a $120.6 million loss for the 2013 financial year, which included $116 million in the three months ending June 30.

Casanare state

Sources

  • Canacol Energy descubre más petróleo (Portfolio)
  • Operations Update (Canacol Energy)
  • Canacol Energy makes $106.8M writedown of Colombian field due to declining output (Global Post)
Casanareoiloil production

Trending

  • Colombia’s far-right trying to postpone presidential elections

  • Establishment candidate in Colombia’s elections linked to mafia

  • Colombia’s establishment candidate disappoints in election polls

Related articles

  • Colombia’s indigenous urge action after wave of death threats

  • Colombia’s Ecopetrol joined by paramilitaries after guerrilla attacks on oil fields

  • Colombia arrests protest leaders days after receiving $1 million from Canadian oil company

  • RSS

@2008-2019 - Colombia Reports. All Rights Reserved.
Powered by Digitale Zaken and Parrolabs


Back To Top