Page 16 - LatAmOil Week 07 2021

LatAmOil NEWS IN BRIEF LatAmOil

He started his professional career in New York, potential remaining. We have one ship pro- of the Bretaña oilfield, building on the success
working for Salomon Brothers. Argento gradu- ducing 120,000 barrels a day, we have five ships achieved to date, and that is expected to achieve
ated with honors in Economics from Harvard planned to get to over 750,000 barrels a day by production of 20,000 barrels per day (bpd) of oil
University. 2026, and we have line of sight to 10 floating pro- during H2-2022. The confidence shown by the
Canacol is a natural gas exploration and pro- duction, storage, and offloading vessels for this bond investors supplements the existing equity
duction company with operations focused in decade.” investment of our shareholders.”
Colombia. The Corporation’s common stock Hess is a leading global independent energy PetroTal is a publicly traded, dual‐quoted oil
trades on the Toronto Stock Exchange, the company engaged in the exploration and pro- and gas development and production company
OTCQX in the United States of America, and the duction of crude oil and natural gas. domiciled in Calgary, Alberta, focused on the
Colombia Stock Exchange under ticker symbol CERAWeek Conversations features original development of oil assets in Peru. PetroTal’s flag-
CNE, CNNEF, and CNE.C respectively. interviews and discussion with energy industry ship asset is its 100% working interest in Bretaña
Canacol Energy, February 12 2021 leaders, government officials and policymakers. oilfield in Peru’s Block 95 where oil production
The series is produced by the team responsible was initiated in June 2018, and in early 2020
for the world’s preeminent energy conference, became the second largest crude oil producer in
COMPANIES CERAWeek by IHS Markit. Peru.
Hess, February 17 2021 Additionally, the Company has large explora-
Hess CEO talks Guyana and tion prospects and is engaged in finding a part-
ner to drill the Osheki prospect in Block 107. The
his company’s strategic FINANCE Company’s management team has significant
experience in developing and exploring for oil
focus during CERAWeek PetroTal announces in Northern Peru and is led by a Board of Direc-
tors that is focused on safely and cost effectively
Conversations Series completion of $100mn developing the Bretaña oilfield.
PetroTal, February 17 2021
John Hess, CEO of Hess, shares his perspective senior secured bond issue
on a range of energy issues in the latest edition of Petrobras comments on
the CERAWeek Conversations series. In a dis- PetroTal is pleased to announce that on Febru-
cussion with IHS Markit Vice Chairman Daniel ary 16, 2021, it completed the issuance of the Fitch’s affirmation of BB-
Yergin, Hess describes the company’s strategic $100mn issue of senior secured bonds, previ-
focus. ously announced on February 2, 2021. The new rating for IDRs
On Hess’ strategy: “We have three strategic bond issue will be PetroTal’s only interest-bear-
objectives: grow our oil resources, have a low ing debt and will be used to retire the existing Petrobras announces that the rating agency Fitch
cost of supply, and sustain cash flow growth so derivative liability with Petroperu, continue affirmed the BB- issuer default ratings for Petro-
we can have durable cash flow growing over the development of the Bretaña oilfield, support bras, with a negative outlook, reflecting the agen-
next 10 years. It requires a differentiated port- the Company’s crude oil price hedging strategy, cy’s opinion on the sovereign’s ratings. Petrobras
folio of short cycle as well as long cycle projects and finance potential acquisitions. Details of the stand-alone credit profile was also affirmed at
– the best rocks for the best returns.” 2021 capital budget will be released on February bbb, four notches above the sovereign.
On Hess’ position offshore Guyana: “This is 18, 2021. Fitch highlighted the company’s strong cap-
one of the biggest petroleum provinces found Pareto Securities acted as sole bookrunner ital structure, declining debt levels and strong
in the last 20 years. Hess has a 30% interest with and manager of the bond issue. cash flow generation. The agency also pointed
ExxonMobil as operator, and in 2015 we discov- Douglas Urch, Chief Financial Officer, com- out that it expects Petrobras to continue delev-
ered oil there. Since then, we have had 18 discov- mented: “We are pleased to finalise this inau- eraging in the future and to continue reporting
eries finding over 9bn barrels of oil equivalent, gural $100mn bond issue for PetroTal. This positive free cash flow over the rating horizon.
and we see multi-billion barrels of exploration funding supports the ongoing development Petrobras, February 16 2021

P16 www. NEWSBASE .com Week 07 18•February•2021