News and AnalysIs for

Ecopetrol is exploring two additional strategic business opportunities in Venezuela beyond natural gas imports following the changed political landscape after Nicolás Maduro’s capture by the United States.

SierraCol Energy Limited notes today global investment firm Carlyle and Prime Infrastructure Capital, Inc (“Prime Infra”) announced that they have entered into an agreement by which Carlyle will sell to Prime Infra the totality of its shares in SierraCol. The transaction is subject to customary regulatory approvals and is expected to close within the following month.

Ecopetrol’s Permian Basin operations in the United States contributed 13.8% of total company production in 2025, emerging as one of the best-performing assets despite the Petro administration’s continued push to divest the fracking-based asset.

Ecopetrol initiated export operations with the Atlantic Majesty, the first vessel contracted for exclusive company use under a Time Charter arrangement, which will transport 1 million barrels of heavy crude monthly to United States customers.

GeoPark declined to raise its offer for Frontera Energy’s Colombian exploration and production assets, ending its bid after determining that matching a superior proposal from Parex Resources would not meet the company’s return thresholds.

Frontera Energy reversed course March 5, 2026, determining that a binding offer from Parex Resources to acquire its Colombian upstream exploration and production assets constitutes a “Superior Proposal” compared to its previously announced arrangement with GeoPark Limited.

But we still think the issues are mostly beyond management’s control. That is, it is not Ricardo Roa and the Petro government’s fault (entirely) at least at the operational level. Strategy? Management distractions? That’s another issue.

Gran Tierra Energy announced Q4 2025 average working interest production of 46,344 boed and full-year 2025 production of 45,709 boed, representing a 32% increase from 2024, driven by positive exploration results in Ecuador, full-year Canadian operations, partially offset by pipeline disruptions in Southern Colombia and Ecuador. The company achieved its seventh consecutive year of South American reserves growth with over 100% reserve replacement for both PDP and 2P categories, reporting year-end reserves of 142 mmboe (1P), 258 mmboe (2P), and 329 mmboe (3P).

GeoPark Limited announced a private investment in public equity (PIPE) transaction with Colden Investments S.A., an affiliate of Jaime Gilinski’s Grupo Gilinski, in which Colden invested approximately US$107M to acquire 12,876,053 newly issued common shares at US$8.31 per share.

Parex Resources reported 2025 annual funds flow from operations of US$455M and free funds flow of US$145M, while increasing proved developed producing and proved reserves per share by 4% and proved plus probable reserves per share by 8% compared to 2024.