Upper Magdelena

Commentary

New discoveries continue to be made using modern technology. The new de la Espriella government has reopened new exploration contracts, although the higher tax take, legal certainty and security remain to be addressed. Outlook: Neutral.

Updated

October 3, 2026

Location

Description

The Upper Magdalena Valley Basin (UMB) is an intermontane basin in the southern Colombian Andes, bounded by the Central Cordillera to the west and the Eastern Cordillera to the east; it is c.400km long and up to 65km wide. The basin records Mesozoic to Cenozoic sedimentation and deformation linked to uplift of the adjacent mountain belts, with Jurassic plutonic and volcaniclastic rocks locally thrust over the Cretaceous to Cenozoic sedimentary section that hosts the petroleum system. Organic-rich shales of the Cretaceous Villeta Group are the principal source rocks, and the Aptian–Albian Caballos Formation is a key proven reservoir in this mature, producing basin.

Summary

The Basin has been extensively explored, although new discoveries continue to be made leveraging modern technology.