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Four South America-Focused Companies, 43 Exploration Wells
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Four South America-focused E&Ps have released their 2020 plans and we are taking a look at their outlook for the year.
Approximately 43 new exploration wells are planned for this year by GeoPark Ltd., Gran Tierra Energy Inc., Ecopetrol SA and Parex Resources Inc.
Ecopetrol: 18 Exploration WellsEcopetrol's 2020 drilling plans will be similar to 2019 - 17 exploratory wells were drilled in 2019 and 18 are planned for 2020. Spending will be relatively flat.
GeoPark: 6-8 Exploration WellsSimilar to Ecopetrol, GeoPark's planned 2020 activity is similar to 2019. The only big difference is a 22% decrease in exploration well activity.
Gran Tierra: 3-5 Exploration WellsGran Tierra's spending activity will be down 37% from 2019 levels, with noticeably lower drilling plans as well.
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