This morning Weatherford signed a financing agreement with us, Halliburton signed yesterday, we are going to share the difficulties together because (the services companies) can't always be on the easy side of things. That's the negotiation we're having with many companies.

Eulogio Del Pino

Categorized in : Energy

We have no doubt that within three to six months, we are going to be raising production between 150,000 and 200,000 barrels per day, we will get up to levels very close to our potential, in the order of 2.9 million barrels per day.

Eulogio Del Pino

energy

Two million barrels more in demand and a million barrels less supply will translate to a recovery of prices that we estimate to be some ten dollars.

Eulogio Del Pino

energy

There are 14 Schlumberger drills that will start operations soon under a different financing scheme, and in the case of the (Maracaibo) lake rigs, we'll also reach a deal for a different kind of operation.

Eulogio Del Pino

business

This (deal) will help reach an equilibrium price, we estimate that there will be a recovery around the middle of the year of some $10, $15 dollars, it's not convenient that oil return to over $100 because then that produces a cycle of falls.

Eulogio Del Pino

energy