News | July 28, 2017

Ecopetrol Announces New Hydrocarbon Discovery In Gulf Of Mexico (US)

  • The Warrior-2 exploratory well has confirmed the presence of hydrocarbons, volumes are being assessed.
  • It is the second discovery by Ecopetrol (Ecopetrol America Inc.) in deep waters of the Gulf of Mexico in the past eight months.
  • Ecopetrol America Inc. holds a 30% share of the block operated by Anadarko.

Bogota, Colombia /PRNewswire/ - Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces a new hydrocarbon discovery in the Warrior-2 well, in which Ecopetrol America Inc. holds a 30% interest.

Warrior-2 is located in the Green Canyon area of the Gulf of Mexico (United States), 190 kilometers from the coast, 11 kilometers from the K2 production field operated by Anadarko Production Corporation. The proximity to the production facilities of the Marco Polo platform will facilitate the production process, representing a clear competitive advantage.

The company drilled to a depth of 31,646 feet (9,646 meters), with a water layer of 4,122 feet (1,256 meters). The crude it found is light, and analyses are being performed to determine volume. Once the exploratory operations phase is complete, the development plan for this new discovery will be determined.

Ecopetrol is a participant in 67 blocks in the Gulf of Mexico (US) in association with top-tier companies.

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 and Section 21E of the U.S. Securities Exchange Act of 1934. 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.

SOURCE: Ecopetrol S.A.

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