Ecopetrol announced it has entered into an agreement to acquire an equity stake in Brava Energia, marking a significant step in expanding its presence in Brazil’s oil and gas market.
Under the agreement, Ecopetrol will acquire approximately 26 percent of Brava Energia’s share capital from existing shareholders. The company also plans to launch a public tender offer to acquire additional shares, with the goal of reaching a controlling stake of around 51 percent, subject to regulatory approvals and other conditions.
The tender offer will be extended to all shareholders under equal conditions and is expected to be priced at a premium of approximately 27.8 percent over the company’s recent trading average, reflecting Ecopetrol’s intent to secure a meaningful ownership position.
The transaction aligns with Ecopetrol’s long-term strategy to diversify geographically and strengthen its upstream portfolio. Brava Energia, formed through the merger of 3R Petroleum and Enauta, operates across onshore and offshore oil and gas assets in Brazil and reported strong operating performance, including significant reserves and production capacity.
Through the acquisition, Ecopetrol is expected to add substantial reserves and production to its portfolio while increasing its exposure to Brazil’s energy sector, one of the most dynamic markets globally. The deal also positions the company to capture synergies across exploration, production, and operational capabilities.
The transaction remains subject to customary closing conditions, including regulatory approvals and the successful completion of the tender offer process.
