RE:RE:RE:RE:RE:PTA: The 5 Potential Suitors and the reasons (UPDATE)Perdy, I enjoy your thoughtful response and so do my Aliases.
Exxon has some relevance. It shows the climate in Colombia has chilled. It's mostly fundamental shale economics, but some of that is country climate.
You missed the real relevance out of Rubiales release - ecopetrol doesn't extend contracts. Clock still ticking on the blocks PTA bought through Suroco. Won't drill in 2015 due to economics is my estimate. Forward strip says 2016 is tight on economics too. Not a bash, just pricing tightens everyone's drilling plans. If prices rebound beyond that it's going to be tough to justify drills in '17 and get payback and return before it goes back to Ecopetrol. Really need to slash costs or have high prices return.
Remember we're about a month away from their refinance. We'll see if it's banks or alternate. And the amount will reflect a lenders real data driven review of reserves updated, as they will take year end, run new pricing, and will take into account capital plan changes given the new environment. Just how lenders work, again not a bash.