Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Ecopetrol reports operational update to SEC

EditorNatashya Angelica
Published 2024/06/21, 23:34
EC
-

Ecopetrol S.A. (NYSE:EC), the Colombian state-owned oil company, has filed a report with the U.S. Securities and Exchange Commission (SEC) for June 2024. The report, submitted on Friday, provides an update on the company's operations and financial status.

In the filing, Ecopetrol, which operates in the crude petroleum and natural gas sector under the industrial classification code 1311, did not disclose specific financial figures or operational results. However, the document confirms that the company is in compliance with the SEC's reporting requirements for foreign private issuers.

The company, headquartered in Bogota, Colombia, is incorporated under the laws of Colombia and has its principal executive offices located at Carrera 13 No. 36 – 24, Bogota D.C., Colombia. Ecopetrol has indicated that it files annual reports under the cover of Form 20-F, which is a format used by foreign private issuers to provide a comprehensive overview of the company's financial situation.

The report was signed by Javier Leonardo Cardenas, the acting Chief Financial Officer of Ecopetrol, on the date of filing. This regular submission is part of the company's obligations under the Securities Exchange Act of 1934, specifically under Rule 13a-16 or 15d-16.

Ecopetrol's filing does not include any forward-looking statements or projections about future performance. It is a routine disclosure that keeps the investing public and regulatory bodies informed about the company's compliance status with international financial reporting standards.

Investors in Ecopetrol can access the full report filed with the SEC to obtain more detailed information about the company's current operational status. The report is a public document and is part of Ecopetrol's commitment to transparency in its financial and operational communications.

This news is based on a press release statement and provides a factual update on Ecopetrol's SEC filing without any analysis or speculative commentary.

In other recent news, Ecopetrol has been making significant strides in its operations and financial results. The Colombian oil company reported robust first-quarter results in 2024, with a production increase to 741,000 barrels of oil equivalent per day. Despite market challenges, the company posted an EBITDA of COP 14.2 trillion and a net income of COP 4 trillion for the quarter, while its U.S. trading segment generated a net profit of $28.5 million.

Moreover, the company declared the commercial viability of the Arrecife gas field. In terms of strategic planning, Ecopetrol revealed a three-year investment plan for 2024-2026, totaling $20.2 billion, focusing on hydrocarbons and alternative energy sources. There are currently no plans for mergers and acquisitions outside of Colombia.

In terms of regulatory compliance, Ecopetrol has also submitted a Form 6-K report to the United States Securities and Exchange Commission (SEC), a standard requirement for foreign private issuers. The specifics of the report, however, remain confidential. These developments reflect the company's ongoing commitment to transparency, regulatory compliance, and strategic growth.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.