Ecopetrol to Acquire Remaining 45% Repsol Stake in Oil Block in Colombia

MT Newswires Live2024-12-31

Ecopetrol (EC) said Monday it has concluded negotiations to acquire Repsol's remaining 45% stake in block CPO-09 in Colombia.

The company said it exercised its right of first refusal after GeoPark (GPRK) announced a $530 million deal last month to acquire Repsol Exploracion's upstream oil and gas assets in Colombia.

The deal included the purchase of Repsol Colombia O&G, which owns the 45% stake in CPO-09, as well as Repsol's 25% stake in SierraCol Energy Arauca.

Ecopetrol did not disclose the financial terms of its acquisition, but noted that the purchase would add approximately 41 million barrels to its reserves and increase its daily production by approximately 7,000 barrels of oil.

Meanwhile, GeoPark said Repsol's 25% interest in SierraCol Energy Arauca was also subject to right of first refusal by the project's partners and that the process was still open.

Ecopetrol was up nearly 2% in recent trading, while GeoPark was up 4%.

Price: 7.69, Change: +0.14, Percent Change: +1.85

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2495490577?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-12-31 04:13","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2495490577","market":"sh","top_or_hot":-1,"title":"Ecopetrol to Acquire Remaining 45% Repsol Stake in Oil Block in Colombia","media":"MT Newswires Live","content":"<html><body><p> Ecopetrol (EC) said Monday it has concluded negotiations to acquire Repsol's remaining 45% stake in block CPO-09 in Colombia.</p><p>The company said it exercised its right of first refusal after GeoPark (GPRK) announced a $530 million deal last month to acquire Repsol Exploracion's upstream oil and gas assets in Colombia.</p><p>The deal included the purchase of Repsol Colombia O&amp;G, which owns the 45% stake in CPO-09, as well as Repsol's 25% stake in SierraCol Energy Arauca.</p><p>Ecopetrol did not disclose the financial terms of its acquisition, but noted that the purchase would add approximately 41 million barrels to its reserves and increase its daily production by approximately 7,000 barrels of oil.</p><p>Meanwhile, GeoPark said Repsol's 25% interest in SierraCol Energy Arauca was also subject to right of first refusal by the project's partners and that the process was still open.</p><p>Ecopetrol was up nearly 2% in recent trading, while GeoPark was up 4%.</p><p>Price: 7.69, Change: +0.14, Percent Change: +1.85</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Ecopetrol to Acquire Remaining 45% Repsol Stake in Oil Block in Colombia</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEcopetrol to Acquire Remaining 45% Repsol Stake in Oil Block in Colombia\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-31 04:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Ecopetrol (EC) said Monday it has concluded negotiations to acquire Repsol's remaining 45% stake in block CPO-09 in Colombia.The company said it exercised its right of first refusal after GeoPark (...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GPRK","symbol_name":"GeoPark Ltd","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2495490577","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2495490577","pubTimestamp":1735589586,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Ecopetrol  said Monday it has concluded negotiations to acquire Repsol's remaining 45% stake in block CPO-09 in Colombia.The company said it exercised its right of first refusal after GeoPark  announced a $530 million deal last month to acquire Repsol Exploracion's upstream oil and gas assets in Colombia.The deal included the purchase of Repsol Colombia O&G, which owns the 45% stake in CPO-09, as well as Repsol's 25% stake in SierraCol Energy Arauca.Ecopetrol did not disclose the financial terms of its acquisition, but noted that the purchase would add approximately 41 million barrels to its reserves and increase its daily production by approximately 7,000 barrels of oil.Meanwhile, GeoPark said Repsol's 25% interest in SierraCol Energy Arauca was also subject to right of first refusal by the project's partners and that the process was still open.Ecopetrol was up nearly 2% in recent trading, while GeoPark was up 4%.Price: 7.69, Change: +0.14, Percent Change: +1.85","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"GPRK":"GeoPark Ltd","EC":"哥伦比亚国家石油"},"translate_title":"Ecopetrol将收购雷普索尔在哥伦比亚石油区块剩余45%的股份","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EC":0.9,"GPRK":0.9},"content_text":"Ecopetrol (EC) said Monday it has concluded negotiations to acquire Repsol's remaining 45% stake in block CPO-09 in Colombia.The company said it exercised its right of first refusal after GeoPark (GPRK) announced a $530 million deal last month to acquire Repsol Exploracion's upstream oil and gas assets in Colombia.The deal included the purchase of Repsol Colombia O&G, which owns the 45% stake in CPO-09, as well as Repsol's 25% stake in SierraCol Energy Arauca.Ecopetrol did not disclose the financial terms of its acquisition, but noted that the purchase would add approximately 41 million barrels to its reserves and increase its daily production by approximately 7,000 barrels of oil.Meanwhile, GeoPark said Repsol's 25% interest in SierraCol Energy Arauca was also subject to right of first refusal by the project's partners and that the process was still open.Ecopetrol was up nearly 2% in recent trading, while GeoPark was up 4%.Price: 7.69, Change: +0.14, Percent Change: +1.85","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.2","shortVersion":"4.30.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2495490577"}