While changes to the regulatory regime have made the licencing process easier, it has remained laborious. More recently, however, the outlook has been lifted by risk/return based outlook from regulators
April 18, 2021
Americas - South
The MMB was principally formed during the Campanian, following the collision of the northeast-migrating Farallon plate and a subduction zone developed beneath Colombia uplifting the Central Cordillera, producing east-directed thrusting and a foreland basin. It is structurally bounded by the Palestina Fault to the west and the Bucaramanga Fault to the east. The Basin is elongated with an approximate width of 80km and extends to the north for approximately 450km, where it terminates against the Santander Massif and Cesar Valley.
The MMB has been extensively explored, new discoveries continue to be made leveraging modern technology. There is also the potential development of the La Luna shale series, which remains an untapped resource. The La Luna remains one of the key targets for participants currently emerging the MMB.
Source: ESRI, BGS, USGS & OGA data
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