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Ecopetrol SA (EC.N)

EC.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Ecopetrol SA will invest between $3.5 bln to $4 bln in 2018​
Wednesday, 22 Nov 2017 05:54am EST 

Nov 22 (Reuters) - Ecopetrol SA :Ecopetrol SA - ‍Ecopetrol will invest between usd 3.5 to usd 4 billion in 2018​.Ecopetrol SA - ‍in 2018 company expects that it will have a positive net income at Brent prices up to USD 35 per barrel​.Ecopetrol - ‍ecopetrol Business Group's production will grow in 2018, estimated to produce between 715,000 & 725,000 barrels of petroleum-equivalent/day​.Ecopetrol SA sees its ‍two refineries processing between 350,000 and 375,000 barrels of petroleum-equivalent per day​ in 2018.Ecopetrol SA -96% planned investment in 2018 to be executed in colombia, remainder allocated to Ecopetrol Group's projects in U.S.,Mexico,Brazil,Peru​.Ecopetrol SA - 2018 ‍investment plan will be financed with internal cash generation, & currently does not anticipate having to access financing sources​.  Full Article

Ecopetrol Business Group presents third quarter results
Tuesday, 7 Nov 2017 05:18pm EST 

Nov 7 (Reuters) - Ecopetrol Sa :Ecopetrol Business Group presents third quarter and year-to-date 2017 results.Ecopetrol SA qtrly ‍total sales 13.33​ trillion COP, up 9.4 percent.Ecopetrol SA qtrly ‍net income attributable to owners of ecopetrol 1.00 trillion COP.Ecopetrol SA qtrly consolidated​ ‍net income 1.22 trillion COP.  Full Article

Ecopetrol SA says ‍board approved establishment of Sociedad Ecopetrol energía S.A.S. E.S.P
Tuesday, 24 Oct 2017 05:36pm EDT 

Oct 25 (Reuters) - Ecopetrol SA :Ecopetrol SA - ‍board approved establishment of sociedad Ecopetrol energía S.A.S. E.S.P, which is directly and indirectly wholly owned by co.  Full Article

Ecopetrol Business Group presents Q2 and first half 2017 results
Tuesday, 8 Aug 2017 09:07pm EDT 

Aug 9 (Reuters) - Ecopetrol Sa -:Ecopetrol Business Group presents its second quarter and first half 2017 results.Says net income for first semester of 2017 was cop 2.2 trillion, almost double than in same period of last year.Qtrly sales cop 13.15 trillion versus cop 11.75 trillion.Qtrly net income attributable to owners of ecopetrol cop 1,305 billion versus cop 787 billion.  Full Article

Ecopetrol announces non-filing of annual report on form 20-f for year-end 2016
Wednesday, 17 May 2017 01:37am EDT 

May 17 (Reuters) - Ecopetrol Sa :Ecopetrol announces non-filing of its annual report on form 20-f for year ended December 31, 2016.Does not anticipate any changes from results reported in its 2016 earnings release published on march 6, 2017.Audit committee of board retained u.s.-based outside law firm to commence third-party investigation.Ecopetrol says the company and Reficar have cooperated closely and extensively with control entities in furthering their investigations.ICC proceeding is currently in its preliminary stage and is scheduled for a hearing in October 2018..No current executives of Ecopetrol, Reficar or members of board are included in prosecutor's office press release.  Full Article

Ecopetrol Q1 total sales COP 13.37 tln vs. COP 10.49 tln
Friday, 12 May 2017 02:17am EDT 

May 12 (Reuters) - Ecopetrol Sa :Q1 total sales 13.37 trillion COP versus 10.49 trillion COP .Group's net income in Q1 was COP 886 billion, which represents an increase of 144% versus same quarter of 2016.Qtrly average production was 712 thousand barrels of oil equivalent per day.Ecopetrol - successful exploratory wells Gorgon-1, Purple Angel -plus Kronos (2015)- in Colombian Caribbean Offshore suggest new gas province in zone.Structural savings during quarter totaled COP 150 billion.  Full Article

Ecopetrol announces oil discovery at Santander
Thursday, 30 Mar 2017 09:59am EDT 

Ecopetrol SA : Ecopetrol announces oil discovery at Santander . Finding occurred at Boranda-1 well, at a depth of 3.6 kilometers . Region shows oil sands with a total thickness of 40 meters . Potential of mature basins in Colombia has been confirmed .For 2017, Ecopetrol has an exploration budget of us$652 million, with which it will drill 17 wells directly and with partners.  Full Article

Ecopetrol updates its 2020 business plan
Friday, 30 Sep 2016 12:26am EDT 

Ecopetrol Sa : By 2020, at an average price of $50 USD/BL, estimated production would reach 760 mboed, equivalent to a 6% growth vis a vis 2016 . As for exploration, at least, 1.000 million barrels of contingent resources are expected by 2020 . New 2020 plan of Ecopetrol Group modifies plan presented in May 2015 . Plan contemplates a cash surplus of more than $4.800 million, a dividend distribution policy of about 40% .Plan contemplates proceeds in a range of USD 700 million to USD 1.000 million from asset divestments.  Full Article

Ecopetrol SA files for potential mixed shelf offering
Tuesday, 9 Aug 2016 06:34am EDT 

Ecopetrol Sa : Files for potential mixed shelf offering size not disclosed - SEC filing Source: http://bit.ly/2bg5Ubu Further company coverage: [ECO.CN] ((bangalore.newsroom@thomsonreuters.com;)).  Full Article

Ecopetrol says minority shareholders nominated Juan José Echavarría Soto to board
Thursday, 4 Aug 2016 06:01pm EDT 

Ecopetrol Sa : Minority shareholders have nominated Juan José Echavarría Soto as an independent member of board of directors of company .Ecopetrol discloses minority shareholders' agreement.  Full Article

Pumping on Colombia's Transandino pipeline halted after bomb attack

BOGOTA Pumping on Colombia's southern Transandino pipeline was halted on Sunday after a bomb attack by the ELN rebels spilled crude into a river, state-run oil company Ecopetrol and the military said.