Ecopetrol outlined a 2026 investment plan ranging from CoP$22T to CoP$27T during its investor call following 2025 financial results, allocating 70% to traditional oil and gas operations and 30% to energy transition initiatives. It also confirmed it was “kicking the tires” on Canacol’s assets.
SierraCol Energy delivered a 109% 2P reserves replacement ratio in 2025 – marking its ninth consecutive year exceeding 100% – while navigating temporary production restrictions. and completing a change in ownership.
President Gustavo Petro’s administration is defending the continued tenure of Ricardo Roa and Jorge Carrillo at two of Colombia’s most strategically important state enterprises despite escalating legal controversies surrounding both officials.
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.
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