Welcome to our dedicated page for Ecopetrol news (Ticker: EC), a resource for investors and traders seeking the latest updates and insights on Ecopetrol stock.
Ecopetrol S.A. (EC), Colombia's leading integrated energy company, drives innovation across oil exploration, refining, and critical infrastructure development. This news hub provides investors and industry professionals with essential updates on operational milestones, financial performance, and strategic initiatives shaping Latin America's energy landscape.
Access authoritative coverage of Ecopetrol's core activities including hydrocarbon production updates, pipeline logistics advancements, and petrochemical innovations. Our curated collection features earnings announcements, partnership agreements, sustainability efforts, and regulatory developments directly impacting the company's market position.
Key updates include detailed analyses of exploration projects in strategic basins, refinery optimization progress, and infrastructure investments across electric power transmission networks. Track evolving strategies in energy transition initiatives and international market expansions through verified press releases and expert commentary.
Bookmark this page for real-time access to Ecopetrol's official communications and third-party analyses. Stay informed about critical developments affecting one of South America's most significant vertically integrated energy enterprises through our comprehensive news aggregation.
Ecopetrol (NYSE: EC) has announced the full redemption of its outstanding 5.375% notes due June 2026. The redemption, scheduled for November 21, 2024, covers USD 447,168,000 in outstanding notes. The redemption price is expected to be USD 1,010.31 per USD 1,000 principal amount, plus accrued interest of USD 21.35 per USD 1,000, totaling approximately USD 461.3 million. This action aligns with the company's financial plan and debt management strategy.
Ecopetrol S.A. (NYSE: EC) has announced the results and settlement of its cash tender offer for any and all of its outstanding 5.375% Notes due 2026. The offer expired on October 16, 2024, at 5:00 p.m., New York City time. Ecopetrol accepted for purchase all $802,832,000 in principal amount of Securities validly tendered and not withdrawn, paying a Total Consideration of $1,011.90 per $1,000 principal amount on October 21, 2024 (Settlement Date).
The company satisfied all conditions of the offer, including the pricing and closing of a concurrent offering of notes. Ecopetrol intends, but is not obligated, to redeem all or a portion of the remaining outstanding Securities. BBVA Securities Inc., J.P. Morgan Securities , and Santander US Capital Markets served as Dealer Managers for the offer.
Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) has announced a new senior management appointment effective October 16, 2024. Carlos Mauricio Avila Saldarriaga has been appointed as Vice President of Subsidiaries and Assets with Partners. Carlos is a Petroleum Engineer with over 28 years of experience in the hydrocarbons sector. He has held leadership roles in companies such as Occidental de Colombia Inc., Halliburton, and Frontera Energy.
Carlos's expertise includes structuring portfolios, performing technical and economic-financial valuations of projects, and leading interactions with diverse stakeholders. He has consolidated high-performing teams and developed national and international exploration and production businesses. Ecopetrol, the largest company in Colombia, is responsible for more than 60% of the country's hydrocarbon production and holds leading positions in various energy sectors.
Ecopetrol S.A. (NYSE: EC) has announced the pricing of its cash tender offer for any and all of its outstanding 5.375% Notes due 2026. The offer expires on October 16, 2024, at 5:00 p.m., New York City time. The Total Consideration for the Securities is $1,011.90 per $1,000 principal amount, based on a Fixed Spread of +45 basis points over the Reference Yield of 4.507%.
The settlement date is expected to be October 21, 2024. Ecopetrol intends to accept for payment and pay the Total Consideration for Securities validly tendered and not validly withdrawn at or prior to the Expiration Time. The offer is conditioned upon the satisfaction of certain conditions, including a Financing Condition related to a concurrent offering of new notes.
Ecopetrol S.A. (NYSE: EC) announces the postponement of the Price Determination Time and extension of the Expiration Time, Guaranteed Delivery Date, and Settlement Date for its cash tender offer to purchase any and all of its outstanding 5.375% Notes due 2026. Key updates include:
- New Price Determination Time: 10:00 a.m., New York City Time on October 16, 2024
- New Expiration Time: 5:00 p.m., New York City Time on October 16, 2024
- New Guaranteed Delivery Date: 5:00 p.m., New York City Time on October 18, 2024
- New Settlement Date: Expected to be October 21, 2024
The offer is conditioned upon the satisfaction of certain conditions, including the Financing Condition related to a concurrent offering of new notes. Holders who have previously validly tendered their Securities do not need to re-tender. The offer remains subject to the terms and conditions set forth in the Offer to Purchase dated October 8, 2024.
Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) has announced the liquidation of its subordinate, Ecopetrol Energia S.A.S E.S.P. The decision was unanimously approved by the Shareholders' Meeting, authorizing the liquidator to complete all necessary steps. The liquidation process concluded with the cancellation of the company's commercial registration in early October.
The liquidation was necessary due to regulatory restrictions preventing the same group from simultaneously engaging in energy commercialization and transmission activities. This follows Ecopetrol's acquisition of a majority stake in ISA, an electric power transmission company.
Ecopetrol, Colombia's largest company, is a major integrated energy player in the Americas, with operations spanning hydrocarbon production, transportation, refining, and petrochemicals. The company has also expanded into energy transmission and infrastructure through its ISA acquisition.
Ecopetrol S.A. (NYSE: EC) has announced plans to prepay USD 500 million of its USD 1 billion outstanding balance on a loan agreement with international banks. This prepayment, scheduled for October 18, 2024, will be funded by a USD 250 million external credit from Sumitomo Mitsui Banking and USD 250 million from available cash. The move is part of Ecopetrol's integral debt management strategy, aiming to reduce financial expenses and improve credit metrics. This decision demonstrates the company's solid cash position and ability to optimize financing sources, ultimately increasing shareholder returns.
Ecopetrol S.A. (NYSE: EC) has announced a cash tender offer to purchase any and all of its outstanding 5.375% Notes due 2026. The offer expires on October 15, 2024, at 5:00 p.m., New York City time, unless extended or terminated earlier. The Total Consideration for each $1,000 principal amount of Securities will be calculated based on a Fixed Spread over the Reference Yield of the U.S. Treasury Security.
The offer is part of a concurrent offering of new notes by Ecopetrol. The settlement date is expected to be October 18, 2024. Following the offer, Ecopetrol intends to redeem any remaining outstanding Securities. The offer is subject to certain conditions, including a Financing Condition related to the new notes offering.
BBVA Securities Inc., J.P. Morgan Securities , and Santander US Capital Markets are serving as Dealer Managers for the offer.
Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) has announced a permanent appointment in its senior management. Juan Carlos Hurtado Parra has been named as the Vice President of the Upstream segment, effective October 1, 2024. Hurtado Parra, who has been leading the department since June 15, brings 27 years of industry experience to the role.
As Vice President of Upstream, Hurtado Parra will be responsible for increasing company reserves, decarbonizing operations, strengthening the gas portfolio, and driving the traditional business to ensure energy security and support the transition. Ecopetrol, Colombia's largest company, is a major integrated energy company in the Americas, with operations spanning hydrocarbon production, transportation, logistics, refining, and petrochemicals.
Ecopetrol S.A. (NYSE: EC) has announced a name change for its offshore exploration projects in the Colombian Caribbean. This decision comes in compliance with a ruling by the Fourth Labor Court of the Santa Marta Circuit. The project formerly known as 'Uchuva' will now be called SIRIUS, while the project previously referred to as 'Tayrona' will be renamed GUA-OFF-0.
These changes apply to all mentions in the Securities Market Information System (SIMEV) and the SEC's Electronic Data Gathering and Analysis Retrieval (EDGAR) system. The renaming was done in collaboration with Petrobras, Ecopetrol's partner in these projects. Ecopetrol, Colombia's largest company, is a major integrated energy company in the Americas, with significant operations in hydrocarbon production, transportation, refining, and petrochemicals.
