Ecopetrol's 2025 Plan for the Midland and Delaware sub-basins will include the drilling of approximately 91 development wells, with an estimated investment of US$885 million.

Oil companies Ecopetrol and Oxy have reached an agreement to extend the development plan for Rodeo Midland Basin, located in the Permian Basin (Texas, USA), under the joint venture established in July 2019.

Ecopetrol's 2025 Plan for the Midland and Delaware sub-basins will include the drilling of approximately 91 development wells, with an estimated investment of US$885 million and an average annual production of approximately 90,000 barrels of oil equivalent per day.

The Permian is recognized as one of the basins with the largest hydrocarbon reserves and one of the most productive in the world, with a robust infrastructure for the development of oil projects.

This agreement, reached by the companies, includes a drilling plan for 34 wells between April 2025 and June 2026, in addition to those being executed under the current development plan for the first months of 2025.

The agreement maintains the possibility of signing a new extension of the development plan in the future, subject to the macroeconomic environment, the situation of the sector and the interests of the partners.

Ecopetrol and Oxy will also maintain an independent contract for the development of the Delaware sub-basin, which will be valid until 2027.

After five years of operations, Ecopetrol Permian and OXY have achieved positive operational and financial results in the Permian Basin, reflected in the growth of production and its contribution to the results of the Ecopetrol Group.