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Pacific Rubiales Energy Corp. (PEGFF)

- OTCPK - Current
  • Thu, Mar. 5, 12:24 PM
    • Golar LNG (GLNG +10.8%) shoots higher on heavy volume after signing a preliminary agreement with Russia's Rosneft (OTC:RNFTF) to develop floating liquefied natural gas plants in Latin America and potentially elsewhere.
    • GLNG says it aims to sign two agreements that would give Rosneft capacity from its floating gas liquefaction plants under development.
    • The new concept of floating LNG production has yet to be tested, and the first such plant - owned by Pacific Rubiales (OTCPK:PEGFF) and whose output is earmarked for sale to Russia's Gazprom (OTCPK:OGZPY) - is expected to come on stream later this year.
  • Wed, Jan. 14, 3:49 PM
    • Pacific Rubiales (OTCPK:PEGFF -11.3%) plunges amid concerns over lower oil prices, debt and a bond default at Colombia’s second-largest gold producer, Gran Colombia Gold.
    • Three Pacific Rubiales directors serve on the boards of both companies, and Gran Colombia Gold says it missed the interest payment due Dec. 31 on its senior debt as well as on senior secured gold-linked notes.
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  • Dec. 17, 2014, 3:44 PM
    • Pacific Rubiales Energy (OTCPK:PEGFF +13.4%) agrees to sell 43% of its interest a Colombia pipeline and power transmission unit to the World Bank's International Financial Corp. and a group of investors for $320M.
    • The agreements will provide PEGFF with $240M cash to be received by year-end, another $80M in Q1 2015, plus a commitment for an additional $60M to develop future infrastructure projects.
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  • Dec. 4, 2014, 11:42 AM
    • Pacific Rubiales Energy (OTCPK:PEGFF -16.1%) plunges after late yesterday's announcement of a 50-50 joint venture with Alfa, its biggest shareholder, which analysts say may delay the chances of a takeover.
    • “Our preferred scenario would be that this passive investment evolved into an operational partnership, as it would represent an opportunity for Alfa to get access to heavy oil expertise," Credit Suisse writes.
    • The JV will study bidding in the opening round of oil and gas blocks the Mexican government is expected to begin tendering early next year, and pursue other energy projects in the country.
    • Pacific Rubiales also provides its 2015 outlook, saying it expects to raise output by 5%-8% next year, generating an estimated EBITDA of $1.9B-$2.1B.
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  • Oct. 17, 2014, 10:42 AM
    • Pacific Rubiales Energy (OTCPK:PEGFF +2.9%) signs a three-year agreement with Mexico's state-run Pemex to analyze oil and natural gas ventures, including potential deepwater and onshore heavy oil projects, as the country opens up its energy industries to private investment for the first time in decades.
    • Pacific Rubiales has more than $1B ready to invest in Mexico with the aim of doubling oil output by 2020, CEO Ronald Pantin has said.
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  • Feb. 12, 2014, 3:49 PM
    • Shares of BPZ Resources (BPZ +3.4%) are strong after the company announced new production from its CX15-2D well offshore Peru.
    • The block is producing a total of 5,425 bbl/day from the Corvina and neighboring Albacora fields, where BPZ is operator with a 51% stake and Pacific Rubiales (PEGFF) holds 49%.
    • The well extends a "positive well streak" for BPZ, Global Hunter analysts say.
    • Also, BPZ plans $86M in capital spending for 2014, $71M to be directed offshore.
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  • Nov. 4, 2013, 10:25 AM
    • 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.
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  • Jun. 25, 2013, 10:04 AM
    Pacific Rubiales (PEGFF.PK +2.6%) flatly denies a claim by former Venezuelan vice president Jose Vicente Rangel that the explorer had a role in a politically motivated plot against the Venezuelan government.
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  • Dec. 27, 2012, 12:00 PM
    BPZ Resources (BPZ +4.7%) says it closed its contractual arrangements for the sale of a 49% participating interest in Block Z-1 offshore Peru to Pacific Rubiales Energy (PEGFF.PK). The two companies waived and modified certain contract conditions in order to effect an accelerated closing of the transaction.
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  • Apr. 30, 2012, 9:00 AM
    InterOil (IOC) +5.3% premarket after the energy company operating in Papua New Guinea reaches a deal with Pacific Rubiales Energy (PEGFF.PK) for a 10% net participating interest in the PPL237 petroleum prospecting license, in a transaction potentially valued at $345M plus a final resource payment.
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Company Description
Pacific Rubiales is a public company listed on the Toronto and Colombian stock exchanges. The Company is the largest independent oil and gas exploration and production company in Colombia. Pacific Rubiales owns 100% of Pacific Stratus and Meta Petroleum Limited, two Colombian oil & gas operators... More