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Andes Energia celebrates production and financial lift

Andes Energia posts successful first half
Barranquilla, Colombia

Andes Energia posted a successful first half of the year, increasing daily production and turnover.

The firm’s daily production was 3,481 boepd – a 6% year-on-year increase.

Andes Energia’s revenue for the first six months was $34.2million – compared to last year’s $32.5million.

The company, which has operations in Colombia and Argentina, drilled 15 new development wells on its Chachahuen licence in the first half of the year.

Chief executive Alejandro Jotayan said: “Andes continues to grow through the development of its assets and in particular the development of the Chachahuen licence, which has driven production higher against a backdrop of higher domestic oil prices compared to international prices. Furthermore, the new government is stimulating activity in Argentina, which we believe will lead to new and increased investment in the country and help drive value from our 250,000 net acres in the Vaca Muerta.”

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