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Colombia: Ecopetrol minor field divestments offer juniors fresh opportunity

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Report summary

On 24 June 2016, Colombia's national oil company, Ecopetrol, launched a bid round for 20 of its minor onshore fields. This follows the region's other national oil companies, including Petrobras, YPF and Pemex in the divestment of non-core assets in a low oil price environment. This divestiture is part of an initiative to exercise capital discipline and reduce costs after Ecopetrol's near 40% 2016 capital budget cut. We see this as the company's first step in rationalising its portfolio as it pursues a US$400-900 million divestment target over 2016/2017.

What's included

This report contains

  • Document

    Ecopetrol onshore bid round.xls

    XLS 687.50 KB

  • Document

    Colombia: Ecopetrol minor field divestments offer juniors fresh opportunity

    PDF 1.57 MB

  • Document

    Colombia: Ecopetrol minor field divestments offer juniors fresh opportunity

    ZIP 1.69 MB

Table of contents

  • Bids are due in September
  • Qualification is similar to the Colombia 2014 round
  • Twenty fields on offer across four basins
    • Incremental production scenario
    • Undisclosed minimum acceptable bids could produce a mismatch in expectations
    • A diverse array of companies have shown interest
  • Above-ground risk remains a concern
  • A first step to address falling production

Tables and charts

This report includes 9 images and tables including:

Tables

  • Colombia: Ecopetrol minor field divestments offer juniors fresh opportunity: Table 1
  • Colombia: Ecopetrol minor field divestments offer juniors fresh opportunity: Table 2
  • Sliding scale model concession royalty
  • List of fields on offer

Images

  • Colombia: Ecopetrol minor field divestments offer juniors fresh opportunity: Image 1
  • Illustrative fiscal regime comparison
  • Terrorism risk index map of Colombia
  • Colombia: Ecopetrol minor field divestments offer juniors fresh opportunity: Image 3
  • Colombia: Ecopetrol minor field divestments offer juniors fresh opportunity: Image 4

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