Monday, May 2, 2011

Colombia's rapidly growing oil industry

With the news out this morning that Colombia's oil sector managed to pump a new record average of 903,000 barrels per day in the month of April, your humble scribe decided to rummage behind the scenes and get the basic stats on how the Colombia O&G scene has been doing. This chart is the result of time over at Colombia's official ANH website:


So, we've gone from 500k/bbld to 900k/bbld in just over four years. That's cooking, but the role of the private companies seems to be overstated (eg the current Pacific Rubiales (PRE.to) mania sweeping Colombia's middle class shareflipping society) because State controlled Ecopetrol (EC) is still bull goose loony, for sure.