Ecopetrol Announces Agreement for Launching the Market Maker program for its Shares on the Colombian Stock Exchange

Rhea-AI Summary

Ecopetrol (NYSE: EC) has announced the implementation of a market maker program for its shares on the Colombian Stock Exchange, signing 12-month agreements with Valores Bancolombia S.A. and Andes Investment Group Inc. as liquidity providers.

The program aims to enhance trading conditions, price formation, depth, and liquidity of Ecopetrol's shares in Colombia, strengthening the Colombian capital markets and creating shareholder value. The initiative will begin after completing necessary procedures with the Colombian Stock Exchange.

Ecopetrol, Colombia's largest company, maintains a dominant position with over 60% of hydrocarbon production and leading positions in petrochemicals and gas distribution. The company owns 51.4% of ISA's shares and operates internationally in strategic basins across the Americas, including the Permian basin and Gulf of Mexico.

Positive

• Implementation of market maker program to improve share liquidity
• Controls 60%+ of Colombia's hydrocarbon production
• Strategic international presence in US, Brazil, and Mexico
• Diversified operations across energy transmission and road concessions

Negative

• None.

BOGOTA, Colombia, March 3, 2025 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) ("Ecopetrol" or the "Company") announces that, in compliance with Article 2.9.17.1.8 of Decree 2555 of 2010, it has implemented a market maker program for Ecopetrol's shares listed on the Colombian Stock Exchange, for a 12-month period. Ecopetrol has entered into agreements with Valores Bancolombia S.A. Comisionista de Bolsa and Andes Investment Group Inc., a subsidiary of the Chilean group Larraín Vial, as liquidity providers. The program is expected to commence upon completion of the applicable procedures with the Colombian Stock Exchange.

With this program, Ecopetrol aims to contribute to the improvement of trading conditions, price formation, depth and liquidity of its shares in Colombia, thereby strengthening the Colombian capital markets and generating value for its shareholders.

Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 19,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA's shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector.

This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All forward-looking statements, whether made in this release or in future filings or press releases, or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration, and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend and do not assume any obligation to update these forward-looking statements. 

For more information, please contact:

Head of Capital Markets
Carolina Tovar Aragón
Email: investors@ecopetrol.com.co 

Head of Corporate Communications (Colombia)
Marcela Ulloa
Email: marcela.ulloa@ecopetrol.com.co 

 

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SOURCE Ecopetrol S.A.

FAQ

What is the duration of Ecopetrol's (EC) new market maker program on the Colombian Stock Exchange?

Ecopetrol's market maker program will run for a 12-month period.

Which companies are serving as liquidity providers for Ecopetrol's (EC) market maker program?

Valores Bancolombia S.A. and Andes Investment Group Inc. (subsidiary of Chilean group Larraín Vial) are the liquidity providers.

What are the main objectives of Ecopetrol's (EC) market maker program?

The program aims to improve trading conditions, price formation, depth, and liquidity of Ecopetrol's shares in Colombia.

What percentage of Colombia's hydrocarbon production does Ecopetrol (EC) control?

Ecopetrol is responsible for more than 60% of Colombia's hydrocarbon production.

What is Ecopetrol's (EC) ownership stake in ISA?

Ecopetrol owns 51.4% of ISA's shares.