Shares in Alfa rose as much as 3 percent in early trading on Thursday before easing after it said it had signed a preliminary deal with Pacific Rubiales Energy Corp. to create a 50/50 joint venture to invest in Mexican energy projects. Alfa said on Thursday that the new company would look at bidding in Mexico's initial round of oil and gas projects and eventually at doing exploration and production.Alfa said at the end of the third quarter that it owned 17 percent Pacific Rubiales, which is Colombia's No. 2 crude producer, operating in partnership with national oil company Ecopetrol SA.Shares in Alfa surged at the market open before easing to trade 1.7 percent firmer at 36.2 pesos per share.
Ecopetrol SA is a Colombia-based holding company engaged in the development of commercial or industrial activities related to the exploration, exploitation, refining, transportation, storage and distribution of hydrocarbons and its by-products. Shares of EC fell by 1.56% or $-0.31/share to $19.62. In the past year, the shares have traded as low as $19.25 and as high as $43.26. On average, 694342 shares of EC exchange hands on a given day and today's volume is recorded at 45673.
Ecopetrol SA is a Colombia-based holding company engaged in the development of commercial or industrial activities related to the exploration, exploitation, refining, transportation, storage and distribution of hydrocarbons and its by-products. Shares of ECP fell by 1.32% or $-0.3/share to $22.39. In the past year, the shares have traded as low as $22.05 and as high as $55.01. On average, 383 shares of ECP.TO exchange hands on a given day and today's volume is recorded at 1699.
Pacific Rubiales Energy Corp. (Pacific Rubiales) is a producerand seller of natural gas and heavy crude oil. Shares of PRE fell by 8.12% or $-0.81/share to $9.17. In the past year, the shares have traded as low as $9.74 and as high as $23.86. On average, 2168580 shares of PRE.TO exchange hands on a given day and today's volume is recorded at 1450986.
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