Rubiales

Just eight years ago, the country's oil industry was near a standstill because oilfields such as Rubiales, now the country's largest producer, were inaccessible, surrounded by insurgents from the Revolutionary Armed Forces of Colombia, Latin America's oldest and largest guerrilla group, also known as FARC.

Colombia Sets Ambitious Peace Agenda: Oil Angel Gonzalez 2010

Colombian Special Forces last month killed Victor Suarez, also known as Jorge Brice ñ o, the FARC's second in command, when he was bunkered down about 250 miles from the Rubiales field.

Colombia Sets Ambitious Peace Agenda: Oil Angel Gonzalez 2010

This week, oil-and-gas producer Pacific Rubiales Energy Corp. and NII Holdings Inc. sold bonds rated in the "junk," or high-yield, category.

A Market Resurfaces for 'Junk' Debt Prabha Natarajan 2011

Esther Chan , portfolio manager at Aberdeen Asset Management, called BB-rated Pacific Rubiales a "good company" on its way to becoming investment grade, noting that the firm has lowered its ratio of debt to equity to 0.4, from 2.4 two years ago.

A Market Resurfaces for 'Junk' Debt Prabha Natarajan 2011

Now companies, including Pacific Rubiales, are reaping the benefits.

Colombia Sets Ambitious Peace Agenda: Oil Angel Gonzalez 2010

In 2007, his company bought the Rubiales field and brought in technicians with experience in extracting its goop-like heavy crude — an expertise that was missing in Colombia.

Colombia Sets Ambitious Peace Agenda: Oil Angel Gonzalez 2010

The Rubiales field is the largest in the country, which has led Pacific to become the face of Colombia's oil boom in which production averaged 781,000 barrels a day during the first 11 months of 2010.

Colombia Looks Set to Take Breather Dan Molinski 2011

Since 2007, Rubiales has seen its production grow tenfold — to nearly 20% of the country's entire output — without a single rebel attack, Mr. Pantin said.

Colombia Sets Ambitious Peace Agenda: Oil Angel Gonzalez 2010

For two years, more than 2,000 trucks formed a "pipeline on wheels," carrying the crude over hundreds of mile s of empty, dusty roads until a pipeline from Rubiales was finished in 2009, Mr. Pantin said.

Colombia Sets Ambitious Peace Agenda: Oil Angel Gonzalez 2010

"Nobody could work here," said Ronald Pantin, chief executive of Pacific Rubiales Energy, which runs the field.

Colombia Sets Ambitious Peace Agenda: Oil Angel Gonzalez 2010