BOGOTA, Colombia, March 11, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs in accordance with the subscription of the Declaration of the Nation as majority shareholder and in accordance with the established procedure, the representatives of the minority shareholders, formally informed the Company that they had agreed to nominate Dr. Juan José Echavarría Soto as their candidate for Board of Directors. The full text of the document signed by the minority shareholders can be consulted a ...

EGT/iStock via Getty Images Ecopetrol S.A. is the third-largest energy and infrastructure group in Latin America. In 2023, they boasted a 14.4% ROAE. Their total production is the highest it has been since 2015, but their share price is down almost 50% from its 2019 price when oil was trading at $50-60/bbl. I believe the market is overestimating the risk of the left-wing Colombian leader and the increasing debt levels for Ecopetrol. Concurrently, the decreasing oil price has been putting downward pressure o ...

Ecopetrol S.A. (NYSE:EC) Q4 2023 Earnings Call Transcript March 1, 2024 9:00 AM ET Company Participants Ricardo Roa - CEO Alberto Consuegra - COO David Riano - VP of Low Emission Solutions Milena Lopez - CFO Conference Call Participants Ricardo Sandoval - Bancolombia Andres Duarte - Corficolombiana Juan Jose Munoz - BTG Pactual Andres Cardona - Citibank Katherine Ortiz - Corredores Davivienda Bruno Montanari - Morgan Stanley Rodrigo Almeida - Banco Santander Alejandra Andrade - JPMorgan Operator Good mornin ...

An organic incorporation of +307 MBPE was achieved, that is, 43% more compared to 2022 due to management in the development fields, new projects and better prospects in enhance recovery projects. Net incorporation was positive at 119 MBPE. The Reserve-Replacement Ratio (RRR) was 48% in 2023 and remains at an average of 117% for the last 3 years. The ratio of reserves to production or average reserve life of the Ecopetrol Group is 7.6 years. 89% of the reserves are located in Colombia and 11% in the United ...

BOGOTA, Colombia, Feb. 29, 2024 /PRNewswire/ -- We ended 2023 with strong operational results that drove achievements across the entire company. We have achieved the second-best financial results in history by following our financial planning, enhancing our traditional business, and managing the steps toward the energy transition. Throughout 2023, it's worth noting that Brent crude oil prices experienced a decline in 2023 compared to 2022, dropping from USD 99 per barrel to USD 82 per barrel. This decline ...

BOGOTA, Colombia, Feb. 29, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) ("Ecopetrol" or the "Company") hereby communicates the Company's proposal for the distribution of 2023 earnings, which has been approved by the Company's board of directors, and will be submitted for the consideration of the General Shareholders' Meeting that will take place on March 22, 2024: 2023 EARNINGS DISTRIBUTION PROPOSAL (Colombian Pesos- COP) Net income after provision for income tax 19,062,090,905,6 ...

Ecopetrol SA (EC) is set to report fourth-quarter 2023 earnings on Feb 29, after the closing bell.In the last reported quarter, the company’s earnings of 61 cents per unit beat the Zacks Consensus Estimate of 51 cents. Ecopetrol’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed the same once, delivering an average surprise of 3.6%. This is depicted in the graph below. Estimate TrendThe Zacks Consensus Estimate for fourth-quarter earnings per unit of 65 cents witnes ...

BOGOTA, Colombia, Feb. 15, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that after market close on Thursday, February 29, 2024, it will release its financial and operating results for the fourth quarter and full year 2023. On Friday, March 1, 2024, Ecopetrol's senior management will host a single virtual conference call to review the results, with transmission in Spanish and English. Please find below the time and links to access the conference: Conference Call 09:00 a.m. C ...

BOGOTA, Colombia, Feb. 15, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) ("Ecopetrol" or the "Company") informs that to comply with the provisions of Part III Title I Chapter VI of the Basic Legal Circular issued by the Financial Superintendence of Colombia (E.C. 029 of 2014), the Board of Directors of Ecopetrol approved the implementation of the measures described below which are aimed at guaranteeing the adequate representation of shareholders at the Ordinary General Shareholder's Meeting ...

BOGOTA, Colombia, Jan. 30, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC), submitted today the Report on the Implementation of Best Corporate Practices – "Código País" - to the Financial Superintendency of Colombia. The report describes the corporate governance practices adopted and implemented by the company between January 1, 2023 and December 31, 2023. The Código Pais Survey was digitally signed by the Legal Representative. For more information, please consult the report at the following ...