TSXV:AQE - Post Discussion
Post by
rtszd on Mar 04, 2015 6:02pm
A Potential Client: oui ou non?
Just a suggestion:
Pacific Rubiales Energy Corp.(PRE) added three cents to $3.74 on 6.9 million shares, after releasing its production estimate for the fourth quarter. The Colombia-focused company figures it produced 143,000 to 149,000 net barrels of oil equivalent a day. This is down from a firm 149,000 in the first half of the year. Production at the mature Rubiales field, which contributes about 40 per cent of total output, decreased throughout 2014 because of limited water disposal capacity. Pacific Rubiales and the field's co-owner,Ecopetrol SA(ECP: $18.45), had hoped to solve this problem in the second half of 2014 through the Agrocascada irrigation project, expected to boost productive capacity by 20,000 gross barrels a day. The project faced permitting delays, however, and was pushed back to this year. Pacific Rubiales warned in November that because the Rubiales field was not performing according to plan, the company would likely find itself at the low end of its full-year production target of 148,000 to 162,000 barrels a day.
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