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News Breaks | | | | January 4, 2013 | | 13:45 EDT |  | GTE, EC | Gran Tierra Energy reports agreement with Ecopetrol
In an 8-K filing, Gran Tierra Energy Colombia Ltd. said that it and Petrolifera Petroleum, both wholly owned indirect subsidiaries of Gran Tierra Energy (GTE), each entered into an agreement with Ecopetrol S.A. (EC) on December 28, 2012. The Purchase Agreements provide that Gran Tierra Colombia and Petrolifera Colombia agree to sell to Ecopetrol, and Ecopetrol agrees to purchase from Gran Tierra Colombia and Petrolifera Colombia, up to 100% of the volume of crude oil production produced in the Chaza Block, Santana Block and Guayuyaco Block owned by Gran Tierra Colombia and Petrolifera Colombia. The volume of crude oil does not include the volume of oil owned by the National Hydrocarbons Agency corresponding to royalties. The Purchase Agreements further provide that for Putumayo Production that is to be exported through the Port of Tumaco on the Pacific coast of Colombia, the sales point is designated as the Tumaco Port rather than a point in the Putumayo basin. | |
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News For GTE;EC From The Last 14 Days Check below for free stories on GTE;EC the last two weeks. |
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| May 16, 2013 | | 17:04 EDT | | GTE | Gran Tierra Energy announces successful acreage awards in Brazil
Gran Tierra Energy announced successful bids on three blocks in the recently completed 2013 Brazil Bid Round administered by Brazil's Agencia Nacional de Petroleo, Gas Natural e Biocombustiveis, or ANP. The open and competitive process was available to those pre-qualified by the ANP and successful bid contracts are expected to be finalized by August. | | | May 15, 2013 | | 18:31 EDT | | EC | Ecopetrol submits highest bids for three exploratory blocks in Brazil
Ecopetrol (EC) announces that it submitted the highest bids for three exploratory blocks in the 11th bidding round carried out yesterday by the ANP of Brazil in Rio de Janeiro. Ecopetrol has a 100% interest in the highest bids for the POT-M-567 and FZA-M-320 blocks and a 50% interest in the highest bid for the CE-M-715 block, which it submitted with Chevron (CVX) Brasil Ventures. The three blocks comprise an area of approximately 1,862 sq kilometers in the Potiguar, Foz de Amazonas and Ceara offshore basins. | | | May 10, 2013 | | 05:32 EDT | | EC | Ecopetrol approves $502M additional funding to Cartagena Refinery modernization
Ecopetrol announces that its board approved the allocation of an extra $502M for the modernization project of its Cartagena Refinery in 2013. The decision was made after the management team of Reficar asked for the additional funds based on an estimated budget of $6.47B. The modernization of the refinery is expected to make the refinery a strategic asset for the energy security of Colombia. The project is expected to bring benefits that should boost the development of the Colombian Caribbean Coast region and the local manufacturing sector. The modernization project is entering its final stage. The working pace doubled in 2013, compared to last year's, and the overall progress is at 80.7%. | |
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