In the portfolio moves bucket, Ecopetrol has completed a $1.2 billion purchase of about 51 percent of the voting shares in Brazilian producer Brava Energia. The Colombian state owned producer closed the transaction after receiving the required regulatory approvals and satisfying the remaining conditions.
Brava adds estimated proved reserves of about 459 million barrels of oil equivalent and proved plus probable reserves of about 605 million barrels of oil equivalent as of December 31, 2025. The company produced an average 78,800 barrels of oil equivalent per day during the first half of 2026, rising to about 84,400 in June.
For the 12 months through June 30, 2026, Brava reported about $2.34 billion in revenue, $1.05 billion in earnings before interest, taxes, depreciation, and amortization, and $122.2 million in net income on an unaudited basis. Ecopetrol funded the purchase through an internal loan from subsidiary Ecopetrol Capital.
The deal gives Ecopetrol a larger production and development base in Brazil while spreading its upstream portfolio across more assets and operating areas. For the regional industry, the transaction shows continued appetite for producing South American oil and gas assets that offer immediate cash flow alongside future development options.