Financial PerformanceUpstream performance was stronger than expected, with an EBITDA of COP5.9tn, which is 9% higher than expectations.
Growth PotentialEcopetrol is considering buying SierraCol Energy Ltd., which could boost its reserves and offer growth potential in the near term.
Market PerceptionAn acquisition could be well received by the market as it offers growth potential with low estimated EV/EBITDA multiple.