Exploration & Processing - Winter 2011 - (Page 58)

PACIFIC RUBIALES ENERGY CORP . BY DAVID BODDIGER With operated production of more than 147,500 barrels of oil equivalent per day, Pacific Rubiales is Colombia’s second-largest operator, and one of its fastest-growing. TAKING ON THE MAJORS WITH MORE THAN 16 MILLION ACRES OF POTENTIAL BLOCK, PACIFIC RUBIALES ENERGY CORP.’S GROWTH IS CONTRIBUTING TO COLOMBIA’S OIL BOOM. COMPANY PROFILE Pacific Rubiales Energy Corp. www.pacificrubiales.com.co Sales: $639 million HQ: Toronto; Bogotá, Colombia Employees: 350 Services: Producer of natural gas and heavy crude oil T Ronald Pantin, CEO and director: “With $359.7 million in revenue this quarter – more than double the growth achieved in the same quarter last year – we are clearly demonstrating our ability to take a high-quality exploration portfolio into rapid production and commercialization.” 58 | EXPLORATION-PROCESSING.COM outing its strategic position in oil-rich Colombia, Canadian-based Pacific Rubiales Energy Corp. says it has the right combination of production assets and exploration areas to become one of Latin America’s leading producers of natural gas and heavy crude oil. Pacific Rubiales operates in association with Colombia’s national oil company, Ecopetrol S.A., and through a subsidiary, Meta Petroleum Corp., to produce 60,000 barrels of oil per day from the Rubiales and Piriri oil fields in the eastern region of the Llanos Basin and in northern Peru. It owns working interests in a total of 38 blocks in the two countries. With an $858 million capital budget for 2010 and more than 16 million acres of prospective blocks, Pacific Rubiales Energy Corp. is the fastest-growing and largest independent oil and gas exploration and production company in Colombia. An “ambitious exploration and production investment program” has allowed the company to focus on growth, and has sparked a year-on-year turnaround in net income, according to a company statement. During the first six months of 2010, Pacific Rubiales generated a net income of $47.9 million, a 173 percent increase from the first half of the previous year. The growth strategy included a combination of increased production, market optimization efforts and higher prices for crude oil and gas. WINTER 2011 http://www.EXPLORATION-PROCESSING.COM

Table of Contents for the Digital Edition of Exploration & Processing - Winter 2011

Exploration & Processing - Winter 2011
Redefining Refining
Synfuels Success
A Natural Solution
After the Fallout
Uranium on the Rise
Galleon Energy Inc.
Gibraltar Mines Ltd.
The Municipal Group of Companies
Selwyn Resources Ltd.
Redmond Minerals Inc.
Copper Fox Metals
Henry Resources
OFM Pump Inc.
Sunshine Oilsands Ltd.
Pacific Rubiales Energy Co.
Thermo Design Engineering
Alexco Resource Corp.
North American Palladium
Mammoet Canada Eastern Ltd.
KSM Inc.
Industrial Equipment Manufacturing Ltd.
Flexpipe Systems
Guyana Goldfields Inc.
Flotek Industries Inc.
Dominion Terminal Associates
Compressor and Engine Service LLC
BEHR Energy Services Ltd.
LoneStar Energy Fabrication
American Oil & Gas – The Goliath Project
Alberta Oilsands Inc.
Southern Petroleum Laboratories Inc.
Cochrane Technologies Inc.
Crystal Flash Energy
Energold Drilling Corp.
Esperanza Resources Corp.
Explorator Resources Inc.
Rush Sales Co.
Kimber Resources Inc.
Nelson Bros. Oilfield (1997) Services Ltd.
Gulf Copper and Manufacturing
Last page

Exploration & Processing - Winter 2011