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Ecopetrol Investimentos do Brasil, a wholly owned subsidiary of Colombia’s state-owned oil and gas company Ecopetrol, has broadened its presence in Brazil’s energy sector by acquiring a controlling stake in local oil and gas producer Brava Energia.
In a step that strengthens its growth platform in Brazil, Ecopetrol has completed the acquisition of a controlling interest equivalent to approximately 51% of the outstanding voting share capital of Brava Energia, following the satisfaction of all applicable regulatory approvals and other required conditions.
The company claims that this acquisition expands its oil and gas footprint in one of the most dynamic energy markets in the South American energy region, adding a substantial reserve and production base intended to enhance its capacity to generate long-term value for its shareholders.
The aggregate consideration paid in connection with the transaction was approximately $1.2 billion, which was funded through an intercompany loan extended by Ecopetrol Capital, another subsidiary of the Colombian company.
Brava contributes a complementary asset base to the Ecopetrol Group, consisting of producing assets and development opportunities that the firm believes will enhance the geographic and operational diversification of its hydrocarbons business.
This acquisition brings estimated proved reserves (1P) of around 459 million barrels of oil equivalent (boe) and estimated proved plus probable reserves (2P) of about 605 million boe as of December 31, 2025.
Brava reported revenue of approximately $2.34 billion, EBITDA of about $1.05 billion, and net income of around $122.2 million on an unaudited basis for the 12 months ended June 30, 2026.
The average daily production for the six months ended June 30, 2026, was approximately 78.8 thousand barrels of oil equivalent per day (kboed), while production for June 2026 was around 84.4 kboed.
Ecopetrol believes this transaction complements its strategy of building a resilient, competitive, and diversified portfolio supported by high-quality assets, sustained cash generation, and profitable long-term growth.
The completion of the acquisition comes two weeks after Petrobras and the Colombian firm made a gas discovery in the Sandia-1 exploratory well in Block GUA-OFF-O in deep waters off the coast of Colombia.