Ecopetrol ADR

Ecopetrol has completed the acquisition of roughly 51% of the voting shares of Brava Energia for $1.2 billion. Ecopetrol Investimentos do Brasil purchased about 25% of the shares via a voluntary takeover offer and a further roughly 26% via a share purchase agreement; financing was provided through an intercompany loan from Ecopetrol Capital AG. As of 31.12.2025 Brava reported proved reserves of about 459 million barrels of oil equivalent and proved plus probable reserves of about 605 million barrels; average daily production in the six months to 30.06.2026 was about 78,800 barrels of oil equivalent. For the twelve months to 30.06.2026 Brava reported unaudited revenues of about $2.341 billion, EBITDA of about $1.050 billion and net income of about $122.2 million; the transaction equates to roughly $8.4 per barrel (proved) or $6.3 per barrel (proved plus probable). Ecopetrol plans a conference call on 25 August 2026 to discuss details. » More on de.investing.com

Ecopetrol’s Brazilian subsidiary acquired 116,110,717 ordinary shares of Brava Energia at R$23.00 each, representing about 25% of the share capital. Settlement and payment of the shares are scheduled for 17 August 2026. On the same day, a further share purchase agreement with shareholders for around 26% is to be concluded to reach a controlling stake of roughly 51%. For financing, Ecopetrol used a short-term credit facility through Ecopetrol Capital AG and plans to refinance with long-term debt and equity. » More on de.investing.com

Ecopetrol reported Q2 2026 revenue of 40.2 trillion COP and net income of 6.1 trillion COP, both well above expectations. EBITDA rose 59% to 17.7 trillion COP and the EBITDA margin climbed to 44%. The refining business contributed significantly with record-high throughput, while free cash flow and liquidity remained solid. The stock nevertheless slid about 2.7% in after-hours trading as investors weigh future political, production and financial risks against the strong quarter. » More on de.investing.com