Colombia’s Ecopetrol to divest nine oil and gas assets in auction

Colombia’s majority state-owned energy company Ecopetrol will divest its stakes in nine oil and gas producing assets via an electronic auction scheduled for Q4 2020. The nine assets have a combined production of 3,000 barrels of oil equivalent (BOE) a day, with an estimated 17 million BOE in proved, probable and possible 3P reserves, of which 11 million barrels are proved. The assets offer the potential to develop 13 million BOE of contingent reserves, as well as exploration options for some 35 million BOE in prospective resources.

Source: Nasdaq