The introduction of ANH and de-escalation in the conflict with FARC should have kickstarted exploration, but concerns on the licencing process has been a significant headwind.
April 18, 2021
Americas - South
The UMB 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. Antithetic sinistral faults which are parallel to the Santa Maria fault have not been documented but may account for the sinistral offsets observed between the Middle and UMB.
The Basin has been extensively explored, although new discoveries continue to be made leveraging modern technology.
Source: ESRI, BGS, USGS & OGA data
© 2021 Oil & Gas Advisors Limited
Website by Rugby Web Design