Thought Id just flag up the annual Global Energy Conference hosted by First Energy and Societe Generale.
As ever, an excellent line up of companies over the two days. From the agenda, the ones attending are:
Day 1.
Coastal Energy
Rocksource
Bahamas Petroleum Company
Sterling Resources
Nautical
Bankers
Porto Energy
Tethys Petroleum
Condor Petroleum
Greenfields Petroleum
San Leon Energy
Cove
DEO
Faroe
Day 2.
Ecopetrol
Gran Tierra Energy
Petrominerales
C&C Energia
Gold Oil
Parex Resources
Enquest
ShaMaran Petroleum
Sonoro
Transglobe Energy Corp
Rialto Energy
Wentworth Resources
Providence Resources
Canadian Overseas Petroleum
Phew - 25 mins per session - thats a lot to get through but yet again an excellent opportunitiy to blitz the globe and buttonhole a lot of execs.
I would imagine that many/most of the companies will put their presentations on their websites and possibly the video/audio of their session as happened last time.
Ah, PetoMinerales.
Now here's an outfit that knows how to hit a big well. Look at the candellila wells to see that you can get v big onshore flows...
That's a great example of how fast PMG can move. Nov 09 spud cand-1. Dec 31st 10k bopd+ test and put on initial prodn. Feb 15 2010 C 2 on prodn. C3 on prodn mar 29. 75k bopd processing facility completed april 2010. Sept 2010 C4 on prodn. Prodn in 2010 7.3m bbls. That's how to do it.
Q2 bopd was 40k. PMG is another very strong cashflow co. Based on estimates c 3x CF/S.
That cashflow is driving explo. They've slated 36 explo wells for this year targeting 530mm bbls of net unrisked resources. With 2P at end 2010 being 44mm bbls that's big.
They like high impact so there's a lot being done to that end -
Then there's the heavy oil and the Toe Heel Air Injection tech licenced from the old parent, Petrobank. Could be a massive boost if proven to work.
One problem in Colombia is the squeeze on infrastructure so a lot of companies truck and there's shortages of capacity. New pipelines are being built/planned. Trucking fleets are also expanding significantly so many companies will be able to get more production on stream.
Like GTE, PMG has a yearning for Peru and Iirc they bought Pan Andean (?) To that end.
Pmg has 4 blocks over 5.4m net acres. That's one of the biggest. They've established an operational logistics base and work begins soon on Ucayali basin with rig mobilising.
Oh, and PMG pays a small divi (1.6%).
Coffeeee time.