New Stratus Energy has provided an update on its ongoing oil and gas activities in Colombia and Venezuela.

In Colombia, the company expects to sign a definitive joint venture agreement with a local operator imminently. The agreement, approved by the Agencia Nacional de Hidrocarburos to jointly operate existing production blocks, was previously anticipated to be finalized by the end of June 2026. However, the timeline shifted following the June 21 run-off election and government transition. Following the official August 7 transition and the installation of new officers, the company has been assured that the contract signing will happen imminently, while additional operated production blocks are also being evaluated.

In Venezuela, New Stratus Energy is operating under the renewed hydrocarbons legal regime and evolving U.S. Office of Foreign Assets Control licensing frameworks. The company has incorporated a wholly owned U.S. subsidiary, New Stratus Energy US LLC, registered with the Center for Productive International Investments, alongside an operating subsidiary in Venezuela.

The company has established memoranda of understanding and exclusivity and non-disclosure agreements with potential partners cleared in principle by U.S. and Venezuelan authorities. After conducting technical due diligence and site visits to field facilities, New Stratus Energy expects its currently identified projects to be awarded in the coming months.

Read the full announcement: New Stratus Energy Announces Venezuela and Colombia Updates