Pacific Rubiales Energy

Pacific Exploration and Production

Type	Public
Traded as	: PEN
Industry	Oil and Gas
Predecessor	Pacific Rubiales Energy Corp. (1982-2015)
Founded	2009
Headquarters	Toronto, Canada
Key people	Ronald Pantin, (CEO)
Revenue	US$ 4.6 billion (2013)
Operating income	US$ 1.1 billion (2013)
Net income	US$ 430.4 million (2013)
Number of employees	2,506
Subsidiaries	Pacific E&P Holdings Corp., Meta Petroleum Corp., Pacific Stratus International Energy Ltd., Pacific Stratus Energy Colombia Corp., Pacific Stratus Energy S.A., Pacific Off Shore Peru S.R.L., Pacific Rubiales Guatemala S.A., Pacific Guatemala Energy Corp., PRE-PSIE Coöperatief U.A., Petrominerales Colombia Corp. and Grupo C&C Energia (Barbados) Ltd.
Website	www.pacific.energy

Pacific Exploration and Production is a Canadian petroleum exploration and production company in the business of heavy crude oil and natural gas. Its focus is on Colombia and Peru where it holds numerous properties including 38 blocks in the Llanos, Sucre-Co Lower Magdalena and Cesar Valley, Rancheria, Upper and Middle Magdalena Valley, Putumayo Valley, Ucayali and Maranon basins.

In early 2010 it was the largest independent oil company operating in South America and in terms of private companies the fastest growing one in Colombia. In 2011 it was responsible for 41% of the growth in oil production in Colombia. In mid-2015 it changed its name from Pacific Rubiales to Pacific Exploration and Production, signalling the diminished importance of the Rubiales oil field in Columbia in the company's total assets and a broader focus in Latin America.

When Pacific Exploration and Production filed for bankruptcy protection in April 27, 2016, it listed Pacific E&P Holdings Corp., Meta Petroleum Corp., Pacific Stratus International Energy Ltd., Pacific Stratus Energy Colombia Corp., Pacific Stratus Energy S.A., Pacific Off Shore Peru S.R.L., Pacific Rubiales Guatemala S.A., Pacific Guatemala Energy Corp., PRE-PSIE Coöperatief U.A., Petrominerales Colombia Corp. and Grupo C&C Energia (Barbados) Ltd. as subsidiaries.

Pacific Exploration and Production was known as Petro Rubiales from 1982, when the company began operating in the Rubiales oil fields in Columbia, until 2015 when its name was changed. It had origins in Agincourt Explorations in 1987, a TSX Venture Exchange listed company. In 1995 Agincourt Explorations, Agincourt Explorations became AGX Resources Corp.; a mineral exploration company focused on Brazil and Canada. After AGX acquired Rubiales Holdings in 2007 from Petro Rubiales it became known as Petro Rubiales Energy Corp. up until 2008 when it merged with Vancouver-based Pacific Stratus Energy Ltd. in a $2.5 billion causing a name change to Pacific Rubiales Energy Corp. Less than two weeks after the merger the company delisted from the TSX Venture Exchange. Later in 2008 it acquired Kappa Energy, a Colombian exploration company with licenses to 747,000 acres (3,020 km²) of land which included parts of the lower, middle, and upper Magdalena, Catatumbo, and Llanos basins. The transaction was valued at $168 million and increased Pacific Rubiales' possible reserves by 24.2 million boe. By 2008, Kappa was part of division Kappa Energy Holdings. On October 19, 2011 it became engaged in oil drilling activity in northern Guatemala.