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Ecopetrol files its 20-F Annual Report before the Securities and Exchange Commission

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Ecopetrol S.A. has filed its 20-F Annual Report with the SEC for the fiscal year ended December 31, 2023. The report includes audited financial statements, compliant with IFRS, certified by Ernst & Young Audit S.A.S. The company's annual report ensures compliance with reporting obligations to SEC, NYSE, bondholders, and investors. Ecopetrol is the largest company in Colombia, engaged in various energy sectors domestically and internationally.
Ecopetrol S.A. ha presentato il suo rapporto annuale 20-F alla SEC per l'anno fiscale conclusosi il 31 dicembre 2023. Il rapporto include i bilanci finanziari auditati, conforme agli IFRS, certificati da Ernst & Young Audit S.A.S. Il rapporto annuale della società garantisce il rispetto degli obblighi di rendicontazione verso la SEC, la NYSE, i detentori di obbligazioni e gli investitori. Ecopetrol è la più grande azienda della Colombia, impegnata in vari settori energetici sia a livello nazionale che internazionale.
Ecopetrol S.A. ha presentado su Informe Anual 20-F a la SEC para el año fiscal que terminó el 31 de diciembre de 2023. El informe incluye estados financieros auditados, conformes con las IFRS, certificados por Ernst & Young Audit S.A.S. El informe anual de la empresa asegura el cumplimiento de las obligaciones de reporte ante la SEC, la NYSE, los tenedores de bonos e inversores. Ecopetrol es la empresa más grande de Colombia, involucrada en varios sectores de energía tanto a nivel nacional como internacional.
Ecopetrol S.A.는 2023년 12월 31일로 종료된 회계 연도에 대한 20-F 연례 보고서를 SEC에 제출하였습니다. 이 보고서에는 IFRS에 따라 준수되고 Ernst & Young Audit S.A.S.에 의해 인증된 감사된 재무제표가 포함되어 있습니다. 회사의 연례보고서는 SEC, NYSE, 채권자 및 투자자에 대한 보고 의무 준수를 보장합니다. Ecopetrol은 콜롬비아에서 가장 큰 회사로 국내외 다양한 에너지 부문에서 활동하고 있습니다.
Ecopetrol S.A. a déposé son rapport annuel 20-F auprès de la SEC pour l'exercice clos le 31 décembre 2023. Le rapport inclut les états financiers audités, conformes aux IFRS, certifiés par Ernst & Young Audit S.A.S. Le rapport annuel de la société assure la conformité avec les obligations de rapport envers la SEC, la NYSE, les détenteurs d'obligations et les investisseurs. Ecopetrol est la plus grande entreprise en Colombie, opérant dans divers secteurs de l'énergie, tant au niveau national qu'international.
Ecopetrol S.A. hat seinen Jahresbericht Formular 20-F für das am 31. Dezember 2023 endende Geschäftsjahr bei der SEC eingereicht. Der Bericht enthält geprüfte Finanzberichte, die IFRS-konform sind und von Ernst & Young Audit S.A.S. zertifiziert wurden. Der Jahresbericht des Unternehmens gewährleistet die Einhaltung der Berichtspflichten gegenüber der SEC, der NYSE, den Anleihegläubigern und Investoren. Ecopetrol ist das größte Unternehmen in Kolumbien, das sich in verschiedenen Energiebereichen sowohl national als auch international engagiert.
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Ecopetrol's filing of its Form 20-F represents a detailed disclosure of the company's financial condition and compliance with international accounting standards. The inclusion of audited financial statements provides transparency into the company's operations, which is critical for investors to assess risk and determine the value of their investment. It is essential to note that the reported data, being consistent with IFRS adopted by the International Accounting Standards Board and audited by Ernst & Young, ensures a recognized level of accuracy and reliability. Investors should scrutinize the growth trends in revenue, profit margins and cash flows, as well as compare these with industry benchmarks. Additionally, the acquisition of a majority stake in ISA hints at strategic expansion, diversifying Ecopetrol's revenue streams and potentially mitigating sector-specific risks.

It's important to contextualize Ecopetrol within the energy sector's dynamics, particularly its dominant presence in Colombia and its operations across the Americas. As the energy market is highly influenced by geopolitical and regulatory factors, the company's position in hydrocarbon production and its expansion into energy transmission and other sectors, paints a picture of a strategy aimed at vertical integration and resilience. Investors should evaluate how Ecopetrol's geographical spread and product diversification might hedge against volatility in oil prices and regulatory changes. Furthermore, the focus on strategic basins in the American continent and diversified operations could present opportunities for growth, leveraging trends in energy demand and infrastructure development.

For retail investors, the significance of this 20-F filing extends beyond the raw financials; it embodies Ecopetrol's potential trajectory in a highly competitive industry. Given that the report also contains forward-looking statements, investors need to consider the underlying assumptions behind these projections, such as market conditions and the regulatory environment. Ecopetrol's commitment to complying with reporting standards and its ongoing international expansion efforts suggest a strategic posture to strengthen its market position and deliver shareholder value. However, it's also important for investors to remain cautious about the inherently uncertain nature of business projections and to monitor how external factors, including the volatile nature of energy markets, might influence the company's performance.

BOGOTÁ, Colombia, April 18, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs the filing of its annual report under Form 20-F for the fiscal year ended December 31, 2023, with the U.S. Securities and Exchange Commission (the "SEC").

With the filing of its annual report under Form 20-F, the Company complies with its reporting obligations with the SEC, the New York Stock Exchange (NYSE), bondholders, and investors.

The annual report includes, among others, the financial statements of Ecopetrol in accordance with International Financial Reporting Standards (IFRS) as adopted by the International Accounting Standards Board that were audited and certified in compliance with internal control over financial reporting by the Independent Registered Public Accounting Firm Ernst & Young Audit S.A.S. for the years 2021, 2022 and 2023. Investors may receive a hard copy of Ecopetrol's financial statements free of charge by making a request to investors@ecopetrol.com.co.

The 2023 Form 20-F can be found at the following link:

https://www.sec.gov/Archives/edgar/data/1444406/000141057824000515/0001410578-24-000515-index.htm 

Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 18,000 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 press release contains business prospect statements, operating and financial result estimates, and statements related to Ecopetrol's growth prospects. These are all projections and, as such, they are based solely on the expectations of the managers regarding the future of the company and their continued access to capital to finance the company's business plan. The realization of said estimates in the future depends on the behavior of market conditions, regulations, competition, and the performance of the Colombian economy and the industry, among other factors, and are consequently subject to change without prior notice.

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, reserves, 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 (a)
Juan Guillermo Londoño
Correo electrónico: juan.londono@ecopetrol.com.co

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SOURCE Ecopetrol S.A.

FAQ

What form did Ecopetrol file with the SEC for the fiscal year ended December 31, 2023?

Ecopetrol filed its annual report under Form 20-F with the U.S. Securities and Exchange Commission.

Who audited Ecopetrol's financial statements for the years 2021, 2022, and 2023?

Ernst & Young Audit S.A.S. audited and certified Ecopetrol's financial statements for the years 2021, 2022, and 2023.

Where can investors find Ecopetrol's 2023 Form 20-F?

Investors can find Ecopetrol's 2023 Form 20-F at the following link: https://www.sec.gov/Archives/edgar/data/1444406/000141057824000515/0001410578-24-000515-index.htm

What percentage of ISA's shares did Ecopetrol acquire?

Ecopetrol acquired 51.4% of ISA's shares.

In which countries does Ecopetrol have Drilling and Exploration operations?

Ecopetrol has Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico.

Ecopetrol S.A.

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