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Ecopetrol SA (EC) Q4 2020 Earnings Call Transcript

Ecopetrol SA (EC) Q4 2020 Earnings Call Transcript
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Colombia's 2021 energy agenda: The year of fracking and green hydrogen

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Colombia's Ecopetrol Sets Aside $600 Million in 2021 Capex for Permian, Local Shale Plays

Colombia’s Ecopetrol Sets Aside $600 Million in 2021 Capex for Permian, Local Shale Plays
Colombia’s state oil company Ecopetrol SA will continue its foray into shale plays in 2021, principally in the prolific Permian Basin in the United States but also in a pilot program at home.
The company will spend more than $600 million in unconventional plays next year, part of an overall capital expenditure (capex) plan of $3.5-4 billion for 2021.
Overall capex is in line with 2020.
The 88.5% state-owned company, whose shares trade on the New York Stock Exchange and the Colombian stock market, earlier this year slashed its 2020 capex by $1.2 billion to a new range of $3.3-4.3 billion, citing plummeting oil prices and the coronavirus pandemic. ....

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