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The latest announcement is out from Ecopetrol SA ( (EC) ).
Ecopetrol S.A. and Occidental Petroleum Corp have agreed to extend their joint development plan in the Midland area of the Permian Basin, first established in 2019. The new agreement, announced in February 2025, includes drilling plans for 34 wells from April 2025 to June 2026, with potential for further extensions depending on external factors. This collaboration has yielded positive results over five years, contributing to Ecopetrol Group’s growth. As part of the 2025 plan, an investment of $885 million is set for drilling approximately 91 wells, targeting an average production of 90,000 barrels of oil equivalent per day. The Permian Basin is one of the world’s most productive hydrocarbon reserves, supporting Ecopetrol’s strategic goals of capital discipline and portfolio diversification.
More about Ecopetrol SA
Ecopetrol is the largest company in Colombia and a leading integrated energy corporation in the Americas, employing over 19,000 individuals. It is responsible for more than 60% of Colombia’s hydrocarbon production and leads in sectors such as transportation, logistics, and hydrocarbon refining. The company also has significant interests in petrochemicals, gas distribution, energy transmission, and road concessions across various countries in the Americas.
YTD Price Performance: 12.90%
Average Trading Volume: 2,590,161
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $19.12B
See more insights into EC stock on TipRanks’ Stock Analysis page.
