While the markets have priced in the most negative news about oil, there is some reaction from a few parts....
One is the Colombian government, which has the intent to support the local drillers, despite that they are rather low cost producers.
Below are the measures they considered:
Another positive development for the Colombian producers is the depreciation of Colombian Peso for 25% versus the USD: that reduces significantly the production costs while they sell oil at USD prices.
Among these Colombian producers, Petroamerica (PTA.V) has the lowest metrics with very low debt and 60 million USD cash.
