Ecopetrol (EC) Reaches Four-Year High in Proven Reserves with 121% Replacement Ratio

Ecopetrol (NYSE:EC) is one of the most undervalued stocks under $30 to buy. On February 19, Ecopetrol Group reported an increase in its proven oil and gas reserves (1P) for 2025, reaching 1.944 billion barrels of oil equivalent/mmboe. This represents a 2.7% growth compared to the previous year and the highest reserve level recorded by the company in the last four years. Despite a 13.9% drop in the average Brent reference price, the company achieved a robust reserves replacement ratio of 121%, meaning it added more resources to its portfolio than it extracted during the year.

The growth was driven by the success of enhanced recovery projects in the Castilla, Chichimene, and Akacias fields, alongside improved operational efficiency at Rubiales and La Cira–Infantas. Technical revisions and contract extensions with the ANH further supported the figures, contributing 100 mmboe to the total. As a result of these efforts, the Ecopetrol Group now maintains an average reserve life of 7.8 years, underscoring its long-term operational sustainability within a volatile market.

As Colombia’s largest integrated energy company, Ecopetrol (NYSE:EC) continues to manage over 60% of the country’s hydrocarbon production while expanding its international footprint in the Permian Basin, the Gulf of Mexico, and Brazil. Beyond oil and gas, the group maintains a diverse portfolio including energy transmission and road concessions through its majority stake in ISA.

Ecopetrol (NYSE:EC) is an integrated energy company that operates through four segments: Exploration & Production, Transport & Logistics, Refining & Petrochemicals, and Electric Power Transmission & Toll Roads Concessions.

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