Petrolifera was formed in late 2004 to acquire the Argentinean assets of Connacher Oil and Gas Limited of Calgary, Alberta. Connacher was responsible for the creation and initial financing of Petrolifera and continues to own approximately 20 percent of Petrolifera's shares.
2010
- Petrolifera completed Vaca Mahuida farmout in Argentina
- Petrolifera initiated remedial work at La Pinta 1X well, Sierra Nevada License, Colombia
- Petrolifera drilled Brillante SE-X1 well in Colombia
- Petrolifera expanded water handling facilities in Argentina
- Petrolifera farmed out Puesto Guevara
- Petrolifera completed $20.1 million bought deal equity financing
2009
- In January, 2009 drilling commenced at La Pinta 1X on the Sierra Nevada License located in the Lower Magdalena Basin onshore Colombia
- Petrolifera initiated a process to maximize value of Argentinean assets and ultimately decided to retain its Argentinean operations
- Petrolifera was awarded a license by PeruPetro covering Block 133 (contiguous with Block 107) in the Ucayli Basin in Peru
- Petrolifera completed a $58.5 million equity financing
- Petrolifera reactivated an infill drilling and testing at Puesto Morales Norte in Argentina
- Petrolifera completed Turpial farm-out agreement in Colombia
- Petrolifera executed Colombia Magdalena contract with ANH which converted the Sierra Nevada II TEA into the Magdalena License
- Petrolifera suspended the La Pinta 1X well after testing light gravity crude oil
- Capital spending in 2009 totaled $71.6 million, with $27.1 million in Argentina, $7.5 million in Peru and $37.0 million in Colombia
2008
- Petrolifera completed its PMN production facilities and activated its pressure maintenance program
- During 2008, Petrolifera drilled a total of 33 wells in Argentina and completed construction of its water treatment and water flood maintenance facility
- In Peru, Petrolifera acquired and processed approximately 950 km of 2D seismic on Block 107 and initiated its seismic data acquisition program on Block 106
- Petrolifera negotiated the potential acquisition of a new licence over Block 133, covering an area of approximately one million acres, contiguous with Block 107
- Petrolifera completed a $40 million bought deal equity financing
- In July 2008, the Corporation converted the Turpial TEA into a license agreement (the "Turpial License") and advanced the process to convert the Sierra Nevada II TEA into the Magdalena License (the "Magdalena License")
- Capital spending in 2008 totaled $116.8 million, with $70.8 million in Argentina, $12.6 million in Colombia and $33.3 million in Peru
2007
- During 2007, Petrolifera drilled a total of 47 wells, all on the Puesto Morales/Rinconada Concession
- Permanent infrastructure and production facilities, including water treatment and disposal facilities, a water flood maintenance facility and a high pressure natural gas sales pipeline were installed at PMN
- In Peru, Petrolifera conducted an airborne gravity and magnetic program over Block 107 in the Ucayali Basin. Petrolifera secured approval of its Environmental Impact Assessment enabling it to initiate its seismic program on Block 107
- Petrolifera entered Colombia through the acquisition of significant exploration rights. In July 2007, the Corporation acquired the Sierra Nevada License covering approximately 210,000 acres in the Lower Magdalena Basin, the Turpial TEA, covering approximately 111,000 acres in the Middle Magdalena Basin, was also acquired. In September, 2007 the Corporation acquired the Sierra Nevada II TEA covering approximately 900,000 acres in the Lower Magdalena Basin, onshore Colombia
- Capital spending in 2007 totaled $111.0 million with $97.5 million in Argentina, $12.9 million in Peru and $0.6 million spent in Colombia
- In Argentina, five additional exploration Blocks were acquired
2006
- Petrolifera drilled nine wells in Argentina during 2006, with all wells completed as either oil wells (some multi-zone) or as natural gas wells
- Production surpassed 5,000 boe/d in Argentina
- Petrolifera completed construction of primary field facilities and an oil sales pipeline related to the Puesto Morales Norte Field (“PMN”) in Argentina
- Petrolifera pursued opportunities to expand operations into Colombia; established Petrolifera Petroleum (Colombia) Limited
- Peak production from the Puesto Morales field was reached at >11,000 bbl/d of crude oil towards the end of the year
2005
- Petrolifera completed a 3D seismic survey over the northern portion of the Puesto Morales Block
- Petrolifera completed a $7 million equity financing as a private company
- Petrolifera was awarded two licenses by PeruPetro, covering Block 106 in the Maranon Basin and Block 107 in the Ucayali Basin in Peru
- Petrolifera made a crude oil and natural gas discovery with its first well drilled in Argentina
- Petrolifera completed its initial public offering for gross proceeds of $21.3 million; Connacher was the largest purchaser confirming support for Petrolifera
2004
- Connacher announced the plan to dispose of Argentinean interests to a newly created wholly-owned subsidiary. Subsequently, Petrolifera Petroleum Limited was incorporated pursuant to the Canada Business Corporations Act.
- Petrolifera acquired a 100% working interest in the Neuquén Basin Concession, Puesto Morales/Rinconada
- Production from the concession at the time of acquisition was approximately 80 boe/d
- New shareholders acquired equity in Petrolifera to finance purchase, reducing Connacher’s interest to 61%