EC: Ecopetrol S.A. Instablogs

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Monday, May 6, 5:22 PM Shares of Ecopetrol (EC), Colombia's state-controlled oil producer, hit 52-week lows after reporting Q1 net income of 3.41T pesos ($1.86B), down 20% Y/Y and below analyst consensus of 3.99T pesos. Hopes are dim for a better Q2 showing, as lower oil prices bring higher risks of weaker Q2 results, Citigroup analysts say, adding the Q1 earnings miss may increase the chance of a reduced dividend. Comment! [Energy, Earnings]
Monday, May 6, 6:25 AM Ecopetrol (EC): Q1 EPS of COP85.02. Revenue of COP14771.8B. (PR) Comment! [Earnings, Breaking News]
Monday, April 29, 6:25 PM This was supposed to be the year Ecopetrol (EC) began to fulfill its vast promise, but instead it has widely missed its 2012 oil production targets, saw profits shrink more than expected, and suffered a rise in guerrilla attacks on its pipelines. A top Colombian energy analyst sees EC as having strong long-term prospects but with little chance of zooming higher soon unless it announces a big oil find. Comment! [Energy, Global & FX]
Tuesday, March 26, 3:03 PM Petrobras (PBR) is profiled in a NYT piece as an energy giant struggling only five years after celebrating the discovery of massive ultra-deep oil reserves offshore. PBR is "losing the race to keep up with the nation’s growing energy demands," the article says. Earlier this year, PBR was overtaken by Colombia’s Ecopetrol (EC) as Latin America’s largest listed company by market cap. Comment! [Energy, Global & FX]
Thursday, December 13, 2012, 12:23 PM Colombia's Ecopetrol (EC) says it will team with Anadarko Petroleum (APC) to search for oil deposits in the Fuerte Norte and Fuerte Sur blocks in the Caribbean Sea. EC does not provide financial details, but it expects to invest $80B in projects through 2020 to increase production to the equivalent of 1.3M bbl/day of oil. 2 Comments [Energy, Global & FX]
Thursday, August 16, 2012, 12:16 PM Colombian oil company Ecopetrol (EC +1%) reports a deepwater discovery in the U. S. Gulf Coast. Data indicate a column of ~240 ft. of net condensate-rich gas pay, as prospect as one of 40 ft. of net oil pay. Separately, EC yesterday signed a contract for ~$1.2B to ship 12M barrels of crude oil to India. Comment! [Energy]
Wednesday, March 30, 2011, 5:25 PM Colombian oil company Ecopetrol (EC +0.7%) is increasing production faster than expected, saying it will hit 1M BPD before its target date of 2015. The country is now the 4th largest oil producer in Latin America, thanks to a reduction in violence with FARC terrorists. 1 Comment [Global & FX]

EC Ecopetrol S.A.

EC

Ecopetrol S.A.