Nasdaq BOGOTA – Colombia’s majority state-owned oil company Ecopetrol on Thursday reported a new oil and gas discovery in Putumayo province. The Alqamari-2 well was drilled to a depth of 9,287 feet and saw daily flow of 1,800 barrels of oil, Ecopetrol said in a statement. The oil is a light hydrocarbon. The rate of associated gas that the well
Reuters BOGOTA – Colombia’s Ecopetrol must focus on growing its oil and gas production to fund the transition towards renewables, said Saul Kattan, the chairman of the majority state-run energy company. Colombia could be a world leader in production of renewables like wind and green hydrogen, Kattan told Reuters late on Wednesday, but the company, the largest in the country,
Reuters BOGOTA – Colombia’s majority state-run oil company, Ecopetrol, will make up to $15 billion of organic investment between 2021 and 2023, it said on Tuesday, as it reported an 87.3% drop in 2020 net profit.The company will invest $12 billion to $15 billion over the next three years, Ecopetrol said in a statement, averaging $4 billion to $5 billion
Reuters BOGOTA – Colombia will hold a second bidding round to potentially grant contracts to companies interested in exploring non-conventional oil and gas deposits, using techniques like fracking, the National Hydrocarbons Agency (ANH) said. Majority state-owned oil company Ecopetrol ECO.CN, Exxonmobil XOM.N, and Drummond already have contracts for investigative projects and may submit offers in this new round, as can other companies,
Reuters Colombian oil company Ecopetrol SA aims to drill a total 100 wells by end-2021 in the Permian Basin of West Texas as global oil prices recover, Chief Executive Felipe Bayon said on Monday. Global oil prices plunged to decade lows, with U.S. West Texas Intermediate (WTI) dropping to negative $40 a barrel on April 20 as supplies ballooned while
Reuters BOGOTA – Colombia’s state-run oil company Ecopetrol ECO.CN will look to increase the number of exploratory wells it has planned through 2022 to up to 45 in a bid to further bolster reserves, company executives said on Wednesday. Ecopetrol will also roll over $434 million in debt set to expire this year, the executives said. Ecopetrol drilled 20 wells
Nov. 13, 2019 /PRNewswire/- (“Occidental” or “the Company”) (NYSE: OXY) today, provided an update on its speed and momentum executing against key strategic and financial initiatives designed to maximize shareholder value following the close of its acquisition of Anadarko Petroleum (“Anadarko”) on August 8, 2019. Occidental’s incremental progress following third-quarter earnings includes: Ecopetrol Joint Venture: Occidental has completed the transaction to
BOGOTÁ, Colombia, Nov. 13, 2019 /PRNewswire/ — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) (“the Company”) informs that today it completed the joint venture transaction announced last July 31, 2019. Through this deal, the Company and Occidental Petroleum Corp (NYSE: OXY) agreed to form a strategic alliance or Joint Venture (“JV”) for the development of unconventional reservoirs in approximately 97,000 acres of the Permian Basin in the State of Texas (US). For these purposes, Ecopetrol Permian
By Tyler Losier, Energy Reporter, Oil & Gas 360 Occidental Petroleum and Ecopetrol S.A. form joint venture in the Midland Basin Occidental Petroleum Corporation (stock ticker: OXY), the fourth largest public E&P by market capitalization, has formed a joint venture (JV) with Colombia-based Ecopetrol S.A. (stock ticker: EC) to develop 97,000 net acres of Occidental’s Midland Basin properties, subject to
From The Houston Chronicle Occidental Petroleum reported a $635 million quarterly profit that dipped 25 percent from the year prior, but the focus still remains on Oxy’s $38 billion acquisition of Anadarko Petroleum that could close in August. Houston-based Oxy said it plans to close the Anadarko deal next week after the scheduled Aug. 8 vote of Anadarko shareholders to
From Reuters Occidental Petroleum Corp, which is battling activist investor Carl Icahn over its $38 billion purchase of Anadarko Petroleum, reported a 14% fall in core profit on Wednesday, as higher crude prices and volumes were offset by adjustments to derivatives contracts and lower natural gas prices. Core income fell to $729 million, or 97 cents per share, in the
Ecopetrol reports discovery of crude in Boranda-2 ST well at Rionegro, Santander
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