$EC

Sector Update: Energy Stocks Higher Late Afternoon

Energy stocks gained late Tuesday afternoon, with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.7%.The Philadelphia Oil Service Sector Index was falling 1%, and the Dow Jones US Utilities Index shed 0.3%.Front-month West Texas Intermediate crude oil rose 0.6% to $85.04 a barrel, and the global benchmark Brent crude contract added 0.2% to $91.06 a barrel. Henry Hub natural gas futures gained 3.4% to $2.78 per 1 million BTU.In corporate news, KKR (KKR) has offered to buy natural-gas and electricity distributor UGI (UGI) for $42.50 per share, or roughly $9 billion, The Wall Street Journal reported. UGI shares surged past 9%.Targa Resources (TRGP) shares jumped 7% in Tuesday trading, a day after the company secured 20-year, fee-based agreements with ExxonMobil (XOM).Equinor (EQNR) shares added 0.2% after it said Tuesday it signed an agreement with Chevron's (CVX) Harmattan Energy unit to acquire a 17.4% stake in Petroleum Exploration License 90 in the Orange Basin offshore Namibia. Chevron shares were rising 1.5%.Ecopetrol (EC) has completed the acquisition of a controlling 51% stake in Brava Energia for about $1.20 billion, boosting its presence in Brazil and diversifying its hydrocarbons portfolio, the company said. Ecopetrol shares rose 0.1%.

Sector Update: Energy Stocks Higher Tuesday Afternoon

Energy stocks gained Tuesday afternoon, with the NYSE Energy Sector Index rising 1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.4%.The Philadelphia Oil Service Sector Index was falling 1.1%, and the Dow Jones US Utilities Index advanced 0.5%.Crude oil prices rose after the deadline to reach a permanent peace deal with Iran expired. "There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran," President Donald Trump posted on his social media platform. "The Hormuz Strait is open and operating. All water mines have been removed or detonated."Meanwhile, Reuters reported, citing Iran's negotiator Mohammad Baqer Qalibaf in state media on Tuesday that Hormuz will remain closed until the US meets the conditions of an interim deal signed with Iran in June.Front-month West Texas Intermediate crude oil rose 0.6% to $85.04 a barrel, and the global benchmark Brent crude contract added 0.4% to $91.20 a barrel. Henry Hub natural gas futures increased 2.4% to $2.75 per 1 million BTU.In corporate news, KKR (KKR) has offered to buy natural-gas and electricity distributor UGI (UGI) for $42.50 per share, or roughly $9 billion, The Wall Street Journal reported. UGI shares jumped past 11%.Targa Resources (TRGP) said late Monday it has struck new 20-year fee-based, midstream agreements to support ExxonMobil's (XOM) development of its Permian Basin acreage. Targa shares jumped past 7%.Petrobras (PBR) is weighing granting Braskem (BAK) improved payment terms on some contracts as the petrochemical producer approaches an Aug. 24 deadline to file for bankruptcy protection, Bloomberg reported. Petrobras shares were fractionally lower, and Braskem was down 2.2%.Ecopetrol (EC) has completed the acquisition of a controlling 51% stake in Brava Energia for about $1.20 billion, boosting its presence in Brazil and diversifying its hydrocarbons portfolio, the company said. Ecopetrol shares eased 0.2%.

Sector Update: Energy Stocks Rise Pre-Bell Tuesday

Energy stocks were rising pre-bell Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 1.1%.The United States Oil Fund (USO) was up 0.8% and the United States Natural Gas Fund (UNG) was 0.7% higher.Front-month US West Texas Intermediate crude oil was 1% higher at $85.32 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.5% to $91.30 per barrel, and natural gas futures were up 0.4% at $2.70 per 1 million British Thermal Units.Petroleo Brasileiro (PBR) is weighing granting Braskem (BAK) improved payment terms on some contracts as the petrochemical producer approaches an Aug. 24 deadline to file for bankruptcy protection, Bloomberg reported, citing people familiar with the matter. The company's shares were 0.9% higher premarket.Ecopetrol (EC) completed the acquisition of a controlling 51% stake in Brava Energia for about $1.20 billion, strengthening its presence in Brazil and diversifying its hydrocarbons portfolio, the company said. Ecopetrol stock was up 0.7% pre-bell.SLB (SLB) has been awarded a contract by Brunei Shell Petroleum to support production restoration from shut-in wells at a number of offshore fields, the company said. SLB shares were 0.2% higher premarket.

Ecopetrol Completes Acquisition of 51% of Brava Energia

Colombian oil producer Ecopetrol (EC) has completed the acquisition of a 51% controlling stake in Brazil's Brava Energia through its subsidiary Ecopetrol Investimentos do Brasil, it said on Tuesday.Ecopetrol paid $1.2 billion for the stake, to increase its reserve and production base in the country.Brava Energia's proven reserves were estimated at 459 million barrels of oil equivalent as of Dec. 31, 2025, according to the statement. Its proven plus probable reserves stood at around 605 mmboe.The company's production averaged 78,800 barrels of oil equivalent per day in H1 and reached 84,400 boe/d in June.

Ecopetrol Acquires 51% Stake in Brava Energia for About $1.2 Billion

Ecopetrol (EC) completed the acquisition of a controlling 51% stake in Brazil-based Brava Energia for about $1.2 billion, strengthening its presence in Brazil and diversifying its hydrocarbons portfolio, the company said Tuesday.The transaction included the acquisition of about 25% of Brava through a voluntary tender offer and an additional 26% under a share purchase agreement.Brava reported 459 million barrels of oil equivalent in proved reserves and average production of 78.8 kboed for the six months ended June 30, Ecopetrol said.

UBS Adjusts Ecopetrol Price Target to $16 From $14, Maintains Neutral Rating

Ecopetrol (EC) has an average rating of hold and mean price target of $15.14, according to analysts polled by FactSet.Price: $17.28, Change: $+0.08, Percent Change: +0.47%

Ecopetrol's Brazilian Unit Resumes Tender Offer for 25% of Brava Energia

Ecopetrol's (EC) Brazilian subsidiary, Ecopetrol Investimentos do Brasil, has resumed its voluntary tender offer to acquire roughly 116.1 million common shares, or about 25%, of Brava Energia, the company said late Monday.The tender offer on the B3 Securities Exchange is scheduled to remain open until Aug. 5, the expected auction date, it said.

Sector Update: Energy Stocks Fall Premarket Wednesday

Energy stocks were falling premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.4% lower.The United States Oil Fund (USO) was down 1.8% and the United States Natural Gas Fund (UNG) was 0.8% lower.Front-month US West Texas Intermediate crude oil was 0.5% lower at $69.13 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 1.1% to $72.18 per barrel, and natural gas futures were down 0.8% at $3.25 per 1 million British Thermal Units.Sable Offshore (SOC) shares were up more than 23% after the company said it has priced a combined equity and debt offering to raise new capital and refinance existing borrowings tied to its energy assets.Eni (E) said it agreed with Mercuria to establish an equally owned joint venture to oversee energy commodities trading activities across global markets. Eni stock was down more than 2% pre-bell.Ecopetrol (EC) has received around 1 trillion Colombian pesos ($292.7 million) by Colombia''s Ministry of Finance and Public Credit, corresponding to the account receivable from the Fuel Price Stabilization Fund for Q2 2025, the company said. Ecopetrol shares were 0.6% lower premarket.

Ecopetrol Receives $292.7 Million Colombian Government Payment for Q2 2025

Ecopetrol (EC) has received around 1 trillion Colombian pesos ($292.7 million) by Colombia''s Ministry of Finance and Public Credit, corresponding to the account receivable from the Fuel Price Stabilization Fund for Q2 2025, the company said Wednesday.Of the total, around 800 billion pesos corresponds to the company while about 200 billion to Refineria de Cartagena, payments made through the issuance and delivery of treasury short-term securities, the company said.The payment reflects coordination between the company and government institutions to reduce debts owed to Ecopetrol, the company said.Shares of the company were up 1.9% in recent premarket trading.

Ecopetrol Strikes Collective Bargaining Agreement With Oil Workers Union

Ecopetrol (EC) said Monday it has struck a new six-year collective bargaining agreement with the Colombian Oil Workers Union, effective Jan. 1, 2026.In addition, Ecopetrol said it has entered into 66 final agreements with other participating labor unions.According to EcoPetrol, the agreement provides improvements in working conditions and improved health and education benefits.The Oil Workers Union said that it will send a delegation to different regions of the country to inform members of the agreement's contents.

Citigroup Downgrades Ecopetrol to Neutral From Buy, Raise Price Target to $18 From $14

Sector Update: Energy Stocks Mixed Late Afternoon

Energy stocks were mixed late Thursday afternoon, with the NYSE Energy Sector Index fractionally lower and the State Street Energy Select Sector SPDR ETF (XLE) up 0.2%.The Philadelphia Oil Service Sector Index was falling 1.5%, and the Dow Jones US Utilities Index shed 1%.Front-month West Texas Intermediate crude oil rose 0.5% to $89.14 a barrel, and the global benchmark Brent crude contract shed 0.4% to $93.93 a barrel. Henry Hub natural gas futures climbed up 5% to $3.04 per 1 million BTU.In sector news, US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 12.4 million barrels in the week ended May 22 following a fall of 17.8 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks declined by 3.3 million barrels after a 7.9-million-barrel decline in the previous week, a larger drop than the 3-million-barrel decrease expected in a Bloomberg survey.In corporate news, BP's (BP) former chairman Albert Manifold, who was ousted earlier in the week, had fallen out with company secretary Ben Mathews before his removal from the role, the Financial Times reported. BP shares were down 0.4%.Ecopetrol (EC) said Thursday its board has postponed the start date of the previously announced unpaid leave of Chief Executive Ricardo Roa Barragan. Ecopetrol shares fell 1.1%.TotalEnergies (TTE) and Stellantis (STLA) have renewed and expanded their partnership in Europe to develop and deliver engine oils and lubricants, the companies said. TotalEnergies shares rose 0.8%.Baker Hughes (BKR) said it has secured multiyear contract extensions with Equinor (EQNR) for drilling, well services and wireline intervention in the North Sea. Baker Hughes shares climbed 2.3%, and Equinor was up 0.1%.

Ecopetrol Delays CEO's Unpaid Leave Following Medical Notice

Ecopetrol (EC) said Thursday its board has postponed the start date of the previously announced unpaid leave of Chief Executive Officer Ricardo Roa Barragan.The 30-day leave will now begin on June 27, after Barragan completes a 30-day medical leave notified on Tuesday, the company said.Juan Carlos Hurtado Parra will continue in his role as acting CEO, Ecopetrol said.Price: $14.81, Change: $-0.11, Percent Change: -0.74%

Sector Update: Energy Stocks Decline Premarket Wednesday

Energy stocks were declining premarket Wednesday, with the State Street Energy Select Sector SPDR ETF (XLE) 1.6% lower.The United States Oil Fund (USO) was down 4.4% and the United States Natural Gas Fund (UNG) was 1.7% higher.Front-month US West Texas Intermediate crude oil was 5.1% lower at $89.13 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil fell 4.2% to $95.41 per barrel, and natural gas futures were up 1.2% at $2.93 per 1 million British Thermal Units.TotalEnergies (TTE) is facing a dispute with Mozambique over about $2 billion in costs tied to delays at its liquefied natural gas project in the country, Bloomberg reported, citing an unnamed person familiar with the matter. Shares of TotalEnergies were down more than 2% pre-bell.BP (BP) removed Chairman Albert Manifold, citing governance and oversight concerns, though Manifold rejected the company's account and said his dismissal came without explanation, Bloomberg reported, citing unnamed people familiar with the matter. BP stock was down more than 2% premarket.Gran Tierra Energy (GTE) said it has finalized all conditions tied to its previously announced agreement with Ecopetrol (EC) to acquire a 49% working interest in Colombia's Tisquirama block, expanding its footprint in the Middle Magdalena Valley Basin. Ecopetrol shares were nearly 2% lower pre-bell.

Gran Tierra Secures 49% Stake in Colombia's Tisquirama Block From Ecopetrol

Gran Tierra Energy (GTE) said Wednesday that it has finalized all conditions tied to its previously announced agreement with Ecopetrol (EC) to acquire a 49% working interest in Colombia's Tisquirama block, expanding its footprint in the Middle Magdalena Valley Basin.The block includes the Tisquirama and San Roque fields, which produced about 2,500 barrels of oil equivalent per day on a gross basis in 2025, it said.Gran Tierra added that the assets sit adjacent to its operated Acordionero field and offer potential operational synergies due to similar geology and shared infrastructure.Under the agreement, Gran Tierra said it plans to initially focus on expanding waterflood operations from Acordionero into the Tisquirama fields, alongside well optimization and low-risk infill drilling. The company said it expects to complete Phase 1 of the project by Q1 of 2027 after investing at least $15 million in gross capital expenditures and implementing continuous water injection.Once Phase 1 is completed, Gran Tierra said it will receive 49% of both the fields' existing base production and incremental production.

Ecopetrol Begins Tender Offer for 25% Stake in Brava Energia

Ecopetrol's (EC) Brazilian unit launched a voluntary tender offer to acquire about a 25% stake in Brava Energia at $23 Brazilian real ($4.59) per share, representing 116.1 million shares, Ecopetrol said Tuesday.The offer represents a roughly 20.9% premium to the 90-day volume-weighted average price and is part of a broader deal that could give Ecopetrol a 51% controlling stake.The tender offer will remain open until June 25, it added.

Sector Update: Energy Stocks Fall Late Afternoon

Energy stocks were lower late Wednesday afternoon, with the NYSE Energy Sector Index falling 1.9% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 2.4%.The Philadelphia Oil Service Sector Index shed 0.1%, while the Dow Jones US Utilities Index added 0.5%.Front-month West Texas Intermediate crude oil declined 0.8% to $107.77 a barrel, and the global benchmark Brent crude contract dropped 5.7% to $104.91 a barrel. Henry Hub natural gas futures fell 2.4% to $3.04 per 1 million BTU.US crude oil stocks, including those in the Strategic Petroleum Reserve, declined by 17.8 million barrels in the week ended May 15 following a decrease of 12.9 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks decreased by 7.9 million barrels after a 4.3-million-barrel decline in the previous week, a larger decline than the 2.5-million-barrel decrease expected in a Bloomberg survey.In corporate news, American Water Works (AWK) shares fell 1.4% after Argus cut the company's price target to $140 from $160, while keeping its buy rating.BP (BP) said Wednesday the United Steelworkers, or USW, Local 7-1 has agreed to the company's request to resume negotiations on Friday over Whiting Refinery. BP shares were down 2%.Shell (SHEL) unit BG International has sold participating interests in three exploration blocks offshore Uruguay to QatarEnergy. Shell shares were shedding 2%.Ecopetrol (EC) said Wednesday it has bought a 49% stake in two of the six projects comprising the Jemeiwaa Ka'I wind cluster in La Guajira, Colombia, for $25.5 million. Ecopetrol shares fell 2.1%.

Sector Update: Energy Stocks Fall Wednesday Afternoon

Energy stocks were lower Wednesday afternoon, with the NYSE Energy Sector Index falling 1.8% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 2.1%.The Philadelphia Oil Service Sector Index was 0.3% lower, while the Dow Jones US Utilities Index added 0.6%.In sector news, Iran negotiations are in the final stages, Reuters cited US President Donald Trump as saying on Wednesday. But Trump warned of further attacks unless Tehran agrees to a deal. "We're in the final stages of Iran. We'll see what happens," Trump was cited as telling reporters. "Either have a deal, or we're going to do some things that are a little bit nasty, but hopefully that won't happen."Front-month West Texas Intermediate crude oil was declining 0.8% to $107.77 a barrel, and the global benchmark Brent crude contract was dropping 5.9% to $104.67 a barrel. Henry Hub natural gas futures fell 3.1% to $3.02 per 1 million BTU.US crude oil stocks, including those in the Strategic Petroleum Reserve, declined by 17.8 million barrels in the week ended May 15 following a decrease of 12.9 million barrels in the previous week. Excluding inventories in the SPR, commercial crude oil stocks decreased by 7.9 million barrels after a 4.3-million-barrel decline in the previous week, a larger decline than the 2.5-million-barrel decrease expected in a Bloomberg survey.In corporate news, BP (BP) said Wednesday the United Steelworkers, or USW, Local 7-1 has agreed to the company's request to resume negotiations on Friday over Whiting Refinery. BP shares were down 1.8%.Shell (SHEL) unit BG International has sold participating interests in three exploration blocks offshore Uruguay to QatarEnergy. Shell shares were shedding 1.9%.Ecopetrol (EC) said Wednesday it has bought a 49% stake in two of the six projects comprising the Jemeiwaa Ka'I wind cluster in La Guajira, Colombia, for $25.5 million. Shares fell 2%.

Ecopetrol Buys 49% Stake in 2 Wind Projects for $25.5 Million

Ecopetrol (EC) said Wednesday it has bought a 49% stake in two of the six projects comprising the Jemeiwaa Ka'I wind cluster in La Guajira, Colombia, for $25.5 million.The deal followed the fulfillment of the conditions precedent and legal requirements for the acquisition under an investment framework agreement with AES (AES) Colombia, Ecopetrol said.The JK1 and JK2 projects have a combined capacity of 259 megawatts and include a 35-kilometer transmission line to the collector substation, according to a statement.Ecopetrol said it will complete the acquisition of the remaining portion of the 49% interest in the wind cluster once the conditions precedent for the other four projects are met.Price: $14.16, Change: $+0.15, Percent Change: +1.07%

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Tuesday afternoon with the NYSE Energy Sector Index and the State Street Energy Select Sector SPDR ETF (XLE) each adding 0.8%.The Philadelphia Oil Service Sector Index climbed 2.3%, and the Dow Jones US Utilities Index increased 0.3%.Oil prices rose as a faltering ceasefire between the US and Iran kept the Strait of Hormuz closed. Front-month West Texas Intermediate gained 4.3% to $102.28 a barrel, and global benchmark Brent advanced 3.4% to $107.78 a barrel.Henry Hub natural gas futures fell 2.4% to $2.84 per 1 million BTU.In corporate news, TotalEnergies (TTE) and its partners ConocoPhillips (COP) and QatarEnergy signed a memorandum of understanding Tuesday with Syrian Petroleum relating to the exploration of block 3, offshore Syria in the eastern Mediterranean Sea, the company said. TotalEnergies shares rose 1.3%, and ConocoPhillips added 2.2%.Ecopetrol (EC) said Tuesday its President Ricardo Roa has been charged with alleged violations of spending limits related to the country's 2022 presidential campaign following a probe by Colombia's General Prosecutor's Office. Ecopetrol shares were up 2.7%.Targa Resources (TRGP) is positioned for growth into 2026 and beyond, supported by strong Permian volume growth and potential upside from commodity price tailwinds, RBC Capital Markets said. Targa shares gained 1.1%.Eni (E) asked Morgan Stanley (MS) to help it raise funds from investors, including Apollo (APO), KKR (KKR), and Stonepeak, in a potential deal backed by its floating liquefied natural gas assets, Reuters reported. Eni shares rose 0.6%.