Last $14,200 COP
Change Today +380.00 / 2.75%
Volume 337.3K
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As of 3:59 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

pacific rubiales energy corp (PREC) Snapshot

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52 Week High
06/17/14 - $41,520
52 Week Low
12/16/14 - $10,220
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pacific rubiales energy corp (PREC) Details

Pacific Rubiales Energy Corp. explores, develops, and produces oil and natural gas in Colombia, Peru, Guatemala, Brazil, Papua New Guinea, Guyana, and Belize. The company holds interests in the Rubiales, Piriri, and Quifa heavy oil fields in the Llanos Basin, Colombia; and the La Creciente natural gas field in the northwestern area of Colombia. It has an interest in 95 blocks consisting of 74 blocks in Colombia, 9 blocks in Peru, 2 blocks in Guatemala, 8 blocks in Brazil, 1 block in Papua New Guinea, and 1 block in Belize; and operates oil pipelines in Colombia. The company was formerly known as Petro Rubiales Energy Corp. and changed its name to Pacific Rubiales Energy Corp. in January 2008. Pacific Rubiales Energy Corp. was incorporated in 1985 and is headquartered in Toronto, Canada.

2,877 Employees
Last Reported Date: 03/13/14
Founded in 1985

pacific rubiales energy corp (PREC) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: C$995.1K
President, Director, Member of Reserves Commi...
Total Annual Compensation: C$946.3K
Executive Co-Chairman
Total Annual Compensation: C$995.1K
Executive Co-Chairman
Total Annual Compensation: C$995.1K
Chief Financial Officer
Total Annual Compensation: C$635.2K
Compensation as of Fiscal Year 2013.

pacific rubiales energy corp (PREC) Key Developments

PRE Mulls To Sell Certain Assets

Pacific Rubiales Energy Corp. (TSX:PRE) is seeking to sell certain non-core exploration and production assets. "We will continue to monetize our midstream assets and plan to sell certain non-core exploration and production assets, the proceeds from which will be used to reduce debt," Ronald Pantin, Chief Executive Officer of Pacific Rubiales, said.

Pacific Rubiales Energy Corp. Provides Earnings and Production Guidance for the Fiscal 2015

Pacific Rubiales Energy Corp. Provided Earnings and Production Guidance for the Fiscal 2015. Full year production for 2015 is expected to be between 155 to 160 Mboe/d, generating EBITDA of approximately $1.9 to $2.1 billion, assuming a WTI oil price average of $70.00/bbl. Funds flow ('cash flow') is expected to be approximately $1.45 to $1.55 billion, sufficient to fully fund planned 2015 capital expenditures program. In an environment of lower oil prices, 2015 capital expenditures program is focused on near-term, high-margin volumes. In 2015, estimated E&D capital expenditures are expected to total $1.5 billion, a significant decrease of 35% over estimated 2014 expenditures, reflecting the current lower oil price environment. This capital expenditures program is expected to be funded by internally generated cash flow.

Pacific Rubiales Energy Corp. Announces Joint Venture with Alfa S.A.B de C.V to Develop Mexican Projects

Pacific Rubiales Energy Corp. announced that it has entered into an agreement in principle with Alfa S.A.B. de C.V in connection with the formation of a joint venture company in Mexico on a 50/50 basis. The Joint Venture will also allow for: (i) the joint study of, and bidding on, assets in Mexico's initial oil and gas bid round in 2015; (ii) the acquisition of services contracts with a view to migrating them to exploration and production contracts; (iii) the development or petroleum and natural gas assets in Mexico; and (iv) the development of any business ancillary to the petroleum business in Mexico, including mid-stream projects. Under the terms of the Agreement, Pacific Rubiales and ALFA will jointly identify, discuss, evaluate and undertake the Joint Venture prior to the First Bid Round. The Joint Venture remains subject to any applicable regulatory approvals and the determination of the Joint Venture structure pursuant to a definitive agreement.


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