Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update | Capital Markets | Capital Expenditure
Petroamerica Continues Rapid Growth in Columbian Production
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Petroamerica Oil Corp. has announced the financial and operating results for the three and twelve months ended December 31, 2013, the results of its 2013 year-end independent reserves evaluation and provide an operational update of the Company's activities in Colombia.
2013 Highlights: Continued strong production performance and oil sales from the Las Maracas field on the Los Ocarros Block. This field has contributed an average of 5,266 barrels of oil per day (bopd) (Company working interest, before royalties) of production and 2.0 million barrels (bbls) in sales (net of royalties) for the year; Generated revenue, after royalties, of over $203 million for the year, an increase of over 370% from the prior year, on sales of 2.1 million bbls of oil, leading to positive funds flow from…Finish this article — free account or subscription
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