BOGOTÁ, Colombia, Dec. 18, 2017 /PRNewswire/ -- Ecopetrol (BVC:
ECOPETROL; NYSE: EC) reports that the Coyote-1 well confirmed the
presence of oil in the Valle Medio del Magdalena basin, in the town
of San Vicente de Chucurí, Department of Santander.
The finding was recorded at between 2,042 and 2,177 meters in
depth, confirming the presence of crude of 25º - 28º API (lighter
and more liquid than heavy Colombian crudes) in the Esmeraldas
formation, in petroleum sand intervals with total thickness of
29 meters.
Coyote-1 is one of the exploratory projects that Ecopetrol (50%)
and Parex (50%) are sharing in the De Mares block.
The new finding will ensure synergies and competitive advantages
in the region, thanks to installed capacity and operations at the
La Cira-Infantas, Lisama and Colorado fields, as well as the proximity of
the Barrancabermeja refinery. All of this production, transport and
refining infrastructure is within a distance of 26 kilometers.
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 forwardlooking 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 further information contact:
Capital Markets
Manager
María Catalina
Escobar
Teléfono: +571-234-5190
Correo electrónico: investors@ecopetrol.com.co
Media Relations (Colombia)
Jorge Mauricio Tellez
Teléfono: + 571-234-4329
Correo electrónico: mauricio.tellez@ecopetrol.com.co
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SOURCE Ecopetrol S.A.