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MarketScreener Homepage  >  Equities  >  Bolsa De Valores De Colombia  >  Ecopetrol S.A.    ECOPETROL   COC04PA00016

ECOPETROL S.A.

(ECOPETROL)
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Ecopetrol aims to drill 100 wells in U.S. Permian Basin by 2021 -CEO

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09/13/2020 | 10:06pm EDT

Sept 14 (Reuters) - Colombian oil company Ecopetrol aims to drill 100 wells by the end of 2021 in the Permian Basin of West Texas, the company's chief executive Felipe Bayon said on Monday.

Colombia's biggest oil company has resumed drilling activities under its joint venture with Occidental Petroleum in the Permian Basin since June and plans to drill 22 new wells in the near term, Bayon said during the virtual Asia Pacific Petroleum Conference (APPEC).

Asia is now the company's biggest client for its crude output in terms of geographical regions, and Ecopetrol is currently working on expanding crude oil sales to India and South Korea, he said.

The majority state-owned company was able to avoid production shutdowns during the COVID-19 pandemic due to China's demand for Colombian crude, Bayon added. (Reporting by Florence Tan and Koustav Samanta; Editing by Christian Schmollinger)

Stocks mentioned in the article
ChangeLast1st jan.
ECOPETROL S.A. -1.01% 1965 End-of-day quote.-40.72%
LONDON BRENT OIL 0.58% 41.73 Delayed Quote.-36.73%
OCCIDENTAL PETROLEUM CORPORATION 2.21% 10.64 Delayed Quote.-73.11%
WTI 2.45% 40.321 Delayed Quote.-35.93%
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Financials
Sales 2020 49 325 B 12 775 M 12 775 M
Net income 2020 2 853 B 739 M 739 M
Net Debt 2020 40 343 B 10 449 M 10 449 M
P/E ratio 2020 16,2x
Yield 2020 9,68%
Capitalization 82 233 B 21 270 M 21 298 M
EV / Sales 2020 2,49x
EV / Sales 2021 2,06x
Nbr of Employees 15 157
Free-Float 10,7%
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Technical analysis trends ECOPETROL S.A.
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TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 2 421,73 COP
Last Close Price 2 000,00 COP
Spread / Highest target 62,0%
Spread / Average Target 21,1%
Spread / Lowest Target 2,25%
EPS Revisions
Managers
NameTitle
Felipe Bayón Pardo Chief Executive Officer
Maria Catalina Escobar Hoyos Manager-Capital Markets
Luis Guillermo Echeverri Velez Chairman
Alberto Consuegra Granger Chief Operating Officer
Jaime Caballero Uribe Chief Financial Officer & Vice President
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