RE:RE:PTA exits December @ 5379 bopd !!! Explanation Please !!!You're exactly right, despite others name calling you. Actual forward lookers on fundamentals are a rare commodity on this board.
Llanos is in big decline and higher royalty. I've said that before too but people read so selectively here for the pump they want.
The further impacts to this are that the shrinking llanos production was their lower op cost and higher netback as it actually was lighter oil that sold closer to brent.
So Putumayo is a larger portion of produciton now, with it's slightly lower selling price, higher op cost, higher well risk, higher transportation cost, interruptible nature, and locals who want nothing to do with them there. Further, PTA has no real say in operations as Vetra operates.
I'd say the last impact of the decling LM production is a lending bank wouldn't exactly look at the tail end of LM's productive life and really give PTA credit for a diversified production base between the two areas.