Ecopetrol (EC) Bids $12.8M for Larger Stake in Gulf
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Ecopetrol S.A. (NYSE: EC) placed the most competitive bids in 6 blocks in the "Central Planning Area Lease Sale 216/222" round through its U.S. affiliate (Ecopetrol America Inc.) held in New Orleans as was disclosed by the Bureau of Ocean Energy Management (BOEM), the governmental authority in charge of the process in the United States.
Murphy Exploration and Production and Repsol E&P USA Inc are Ecopetrol's partners in 5 blocks and Apache Corporation and Samson Offshore is a partner in one block.
The official awarding of the blocks will be conducted by the BOEM in the coming months after the final review of bids and ascertaining that the companies fulfill the conditions required for the round.
The bids placed by Ecopetrol and its partners in the 6 blocks amount in the aggregate to approximately US $40 million with Ecopetrol's share approximately US$12.75 million.
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Murphy Exploration and Production and Repsol E&P USA Inc are Ecopetrol's partners in 5 blocks and Apache Corporation and Samson Offshore is a partner in one block.
The official awarding of the blocks will be conducted by the BOEM in the coming months after the final review of bids and ascertaining that the companies fulfill the conditions required for the round.
The bids placed by Ecopetrol and its partners in the 6 blocks amount in the aggregate to approximately US $40 million with Ecopetrol's share approximately US$12.75 million.
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