New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 17, 2013
13:04 EDTECEcopetrol reports proven net reserves for 2012
Proven net hydrocarbon reserves owned by Ecopetrol, including its interest in affiliates and subsidiaries, at the close of 2012 were 1,877 million barrels of oil equivalent (mmboe), a 1.1% increase compared to the 1,857 mmboe in 2011. During 2012, proven reserves increased by 252 mmboe and net production was 232 mmboe. The reserves replacement ratio in 2012 was 109%, which means that for each barrel of oil equivalent produced, 1.09 barrels were added to the proven reserves. The reserves/production ratio (average life of reserves) is 8.1 years, assuming production levels as in 2012. Over the past three years (2010-2012), Ecopetrol has increased its net reserves by 22%, from 1,538 mmboe at the end of 2009 to the current 1,877 mmboe at December 31, 2012. During this same period, net production increased from 160 mmboe in 2009 to 232 mmboe in 2012, up by 45%. The average reserves replacement ratio for the period was 155%.
News For EC From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
January 28, 2016
10:08 EDTECEcopetrol board approves sale of all shares in Polipropileno del Caribe
Ecopetrol said that yesterday, as part of its divestment plan, its Board of Directors approved proceeding with the process of selling 100% of its shares in the company Polipropileno del Caribe S.A. This decision is aligned with Ecopetrol's new strategy and the proceeds of the sale will be used to strengthen the exploration and production businesses, which are the focus of the company. This sale process will proceed in accordance with Law 226 of 1995, which requires Ecopetrol S.A. to apply for and obtain the approval of the National Government of Colombia.
January 25, 2016
09:43 EDTECEcopetrol downgraded to Sell from Trim at Tudor Pickering
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use