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Monday, Nov 4
Pacific Rubiales gains permits for Colombian oil blocks
- Pacific Rubiales (PEGFF +4.5%) says it received environmental licenses for its planned exploration and development activities in two blocks in Colombia.
- CEO Ronald Pantin says the new permit on CPE-6 block is a “global environmental license" that green-lights both exploration and future development drilling.
- PEGFF operates CPE-6 on a 50/50 basis with Talisman Energy (TLM +0.2%); proven and probable reserves of 44.5M barrels on the block have been booked.
- PEGFF also gained environmental approvals for development of its wholly-owned Guama gas block in the Lower Magdalena Valley basin.