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Colombia's Ecopetrol Reports Oil Find In Gulf Of Mexico

BOGOTA -(Dow Jones)- Colombia's state-run oil firm Ecopetrol SA (EC, ECOPETROL.BO) said Thursday that it had found oil in an exploratory well in the Gulf of Mexico, the company's first success in that region. Ecopetrol said that the Logan 1 well showed the presence of oil and that the new studies were being carried out to determine the volume of the discovery. The well, located in the Walker Ridge 969 block, is operated by Norwegian oil and gas company Statoil ASA (STO, STL.OS) while Ecopetrol has a 20% stake in the project. Ecopetrol has moved in recent years to broaden its exploratory efforts overseas, focusing partly in the Gulf of Mexico. The Colombian firm is present in 112 blocks in that region through partnerships with other large oil firms. The company is spending $8.5 billion in capital investments this year, with a large share geared at exploration and production. Its target is to increase crude output 12% on a yearly basis. Ecopetrol's production, without its affiliates, rose to 677,500 barrels a day of oil equivalent in the third quarter, a 13% gain from that quarter of last year, the company said. Analysts attribute the increased oil output by Ecopetrol to higher recovery rates in mature fields and new projects coming online. -By Darcy Crowe, Dow Jones Newswires; (57) 1 703 8953; darcy.crowe@dowjones.com

Stock News for Engelhard (EC)
DateTimeHeadline
08/29/201606:04:47Report of Foreign Issuer (6-k)
08/29/201606:04:46Report of Foreign Issuer (6-k)
08/26/201622:32:00Ecopetrol S.A. has been notified of Resolution 53015 of 2016...
08/26/201622:32:00Ecopetrol S.A. has been notified of Resolution 53015 of 2016...
08/26/201618:31:00Ecopetrol's Extraordinary Shareholders' Meeting
08/26/201618:31:00Ecopetrol's Extraordinary Shareholders' Meeting
08/18/201612:31:00Total Gabon : Nombre total d’actions et de droits de vote au 3...
08/17/201606:02:27Report of Foreign Issuer (6-k)
08/16/201607:00:00Ecopetrol Group Announces its Results for the Second Quarter...
08/16/201607:00:00Ecopetrol Group Announces its Results for the Second Quarter...
08/10/201612:36:00Ecopetrol S.A. Second Quarter and Half Year 2016 Earnings Release...
08/10/201612:36:00Ecopetrol S.A. Second Quarter and Half Year 2016 Earnings Release...
08/09/201606:05:33Automatic Shelf Registration Statement of Securities of Well-known...
08/05/201606:08:56Report of Foreign Issuer (6-k)
08/04/201618:01:00Ecopetrol Discloses Minority Shareholders' Agreement
08/04/201618:01:00Ecopetrol Discloses Minority Shareholders' Agreement
07/26/201622:15:00Fitch reaffirms international investment grade rating of Ecopetrol...
07/26/201622:15:00Fitch reaffirms international investment grade rating of Ecopetrol...
07/19/201608:30:00Oil and Gas Stocks Technical Commentary -- Royal Dutch Shell...
07/11/201621:26:00Ecopetrol Reports On Establishment Of New Companies That Will...

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