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Latin American Juniors
Business News Americas, May 2010, Pages: 16
Peak oil will 'peak' longer with junior and independent oil and gas companies. While the majors are worried about deep water, ultra heavy crude, expensive refineries, or fuel trading, juniors are busy exclusively with finding and extracting oil and gas in isolated places or in marginal/mature fields throughout the region. And their presence can be really significant. For example, in the United States they are thought to produce 68% of oil and 85% of gas in the country, drilling nearly 90% of total wells. Figures for the region are not known, but juniors are the primary force behind Colombia and Peru’s recent success, they are propping up falling Argentine production, and have a growing potential in Brazil.
Although the region itself did not feel the full brunt of the financial crisis, oil juniors were still affected due to the fact that they finance their operations in Toronto, Sydney, London, etc. In addition to financing problems, the fall in the oil price lit the candle at both ends, and many oil juniors were forced to sit on their acreage and/or cash and wait out the global recession.
In a backdrop of a recovery in liquidity and growth, what is the operating landscape for oil and gas juniors and independents in the region? In this edition of the Energy Intelligence Series, regional oil juniors will be analyzed in Argentina, Colombia, Peru, and in Brazil to see if these wily companies have been able to reposition themselves in the region after the crisis.
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Juniors latinoamericanas (Spanish Version)
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