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
Wednesday, Feb 123:49 PM
Wednesday, Feb 123:49 PM| Comment!
- 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.
Monday, Dec 232013, 8:18 AM
Monday, Dec 232013, 8:18 AM| Comment!
- Pacific Rubiales Energy (PEGFF) agrees to sell its 5% interest and transportation rights in the Ocensa oil pipeline in Colombia for $385M to a consortium led by Darby Private Equity, the P-E arm of Franklin Templeton.
- PEGFF also announces successful oil flow from two wells drilled in the CPE-6 heavy oil block in Colombia's Eastern Llanos Basin; PEGFF is operator of the block and holds a 50% share, with Talisman Energy (TLM) also owning 50%.
Monday, Nov 42013, 10:25 AM
Monday, Nov 42013, 10:25 AM| 1 Comment
- 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.
Monday, Sep 302013, 8:49 AM
Monday, Sep 302013, 8:49 AM| 1 Comment
- Pacific Rubiales Energy (PEGFF.PK) agrees to acquire Colombian oil producer and explorer Petrominerales (PMGLF.PK) in a deal totaling $1.6B, including the assumption of ~$640M in net debt.
- The transaction includes 18 exploration and development properties in Colombia and four blocks in Peru, covering a total of nearly 40K gross sq. km and producing ~19M bbl/day of net oil in H1 2013.
Tuesday, Jun 252013, 10:04 AM
Monday, Jun 172013, 10:59 AMA 50% cut in Petrominerales' (PMGLF.PK) market value has left its equity and net debt valued at the cheapest multiple to profit among any oil and gas explorer in the world with a market value higher than $250M, according to Bloomberg, which speculates its reserves, estimated at 40M-plus barrels of mostly high-quality light oil, could attract suitors such as Enbridge (ENB), TransCanada (TRP) or Pacific Rubiales (PEGFF.PK). |Monday, Jun 172013, 10:59 AM| 3 Comments
Tuesday, Jun 112013, 6:17 PMA CIBC analyst is convinced Ecopetrol (EC) will take over production at Colombia's top-producing Rubiales oilfield after Pacific Rubiales’ (PEGFF.PK) license expires in 2016, but CEO Ronald Pantin thinks his "special relationship" with EC will protect the cornerstone of his company. But in case it doesn't, Pacific Rubiales has spent more than $1B hunting for oil in and out of the country. |Tuesday, Jun 112013, 6:17 PM| Comment!
Friday, May 102013, 9:07 AMKaroon Gas (KRNGF.PK) raises the size estimate of its Bilby-1 oil discovery off the coast of Brazil, increasing the likelihood of a commercial development. Further testing indicates the well has a proven gross oil column of 320 meters and a potential column of 560 meters. Karoon has discovered oil in two out of three wells drilled in the Santos Basin with partner Pacific Rubiales (PEGFF.PK). |Friday, May 102013, 9:07 AM| Comment!
Tuesday, Jan 82013, 10:40 AMPacific Rubiales Energy (PEGFF.PK) says it expects to spend $1.7B on exploration and development this year and targets 15%-30% growth in average daily production while warning that approval delays in Colombia could continue to crimp development. The company now sees 2012 average production coming in at ~99M boe, at the low end of guidance. |Tuesday, Jan 82013, 10:40 AM| Comment!
Thursday, Dec 272012, 12:00 PMBPZ 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. |Thursday, Dec 272012, 12:00 PM| Comment!
Monday, Nov 192012, 2:53 PMPacific Rubiales Energy (PEGFF.PK) agrees to acquire C&C Energia (CNCEF.PK) in a deal valued at ~$500M to strengthen its presence in Colombia. The deal will give Pacific Rubiales access to the Cravoviejo, Cachicamo, Llanos 19 and Pajaro Pinto blocks in the prolific Llanos basin, the most important heavy oil basin in the country. |Monday, Nov 192012, 2:53 PM| Comment!
Monday, Apr 302012, 9:00 AMInterOil (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. |Monday, Apr 302012, 9:00 AM| Comment!