In July 2007, Petro Rubiales Energy Corp. was founded when Consolidated AGX Resources Corp. acquired a 75% share interest in Rubiales Holdings Corp., which, among other assets, held rights to the Rubiales and Quifa Fields. The Company subsequently acquired the remaining 25% interest in Rubiales Holdings Corp. in November 2007.
In January 2008, Petro Rubiales Energy merged with Pacific Stratus Energy and changed its name to Pacific Rubiales Energy Corp.
Pacific Rubiales, a Canadian company and producer of natural gas and crude oil, owns 100% of Meta Petroleum Corp., which operates the Rubiales, Piriri and Quifa heavy oil fields in the Llanos Basin, and 100% of Pacific Stratus, which operates the La Creciente natural gas field in the northwestern area of Colombia. The Company has a diversified portfolio of assets beyond Colombia, which includes producing and exploration assets in Peru, Guatemala, Brazil, Guyana, Belize and Papua New Guinea.
The Company strives to enhance shareholder value through the acquisition, exploration and development of highly prospective oil and gas exploration areas. As part of its business strategy, the Company continues to analyze various projects to diversify its portfolio, principally in Latin America.
2007 Petro Rubiales Energy Corp. acquires Rubiales Holdings Corp. Its subsidiary, Meta Petroleum, is the operator of the Rubiales Field.
2008 Merger of Pacific Stratus Energy and Petro Rubiales Energy. Acquisition of Kappa Energy. Pacific Rubiales is now a fully integrated company with producing oil and gas assets and significant exploration potential.
2011 Pacific Rubiales becomes the first foreign company trading on the Colombian stock exchange (BVC).
2012 Reserves booked for first time beyond Colombian borders, in off-shore Peru. Acquisition of Petromagdalena Energy Corp. and C&C Energia Ltd.
2013 Consolidation, cost reduction initiatives and new infrastructure developments. Acquisition of Petrominerales Ltd.
2014 Pacific Rubiales announces its intention to expand into the Mexican energy market. The Company increased production to above 147,000boe/d in 2014, largely due to excellent exploration results with approximately 15,000 bbl/d production added from new light and medium oil discoveries.
2015 Pacific Rubiales announces that it has entered into an arrangement agreement in respect of an offer from ALFA and Harbour Energy, whereby they would acquire all of the issued and outstanding common shares in the capital of the Company not owned by ALFA for cash consideration of C$6.50 per share.