Pacific Rubiales Energy Corp. (PRE.TO) announced that the environmental permits for expansion activities in the Quifa Hydrocarbon Exploitation Area, southern Llanos basin onshore Colombia, have been granted by the Autoridad Nacional de Licencias Ambientales.
Total gross field production at Quifa SW is currently 54 Mbbl/d from over 170 wells and is the company's second largest producing oil field. The company holds a 60% working interest in the Quifa area.
PRE was up 2% to $21.70, trading near 52-week low $20.76.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
