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Ecopetrol said that it “rejects these illegal actions” that endanger people, damage the environment, and harm neighboring communities.

"Ecopetrol emphatically rejects these illegal actions," said the oil company.

The company said that its Spanish subsidiary “is currently inactive and is no longer needed by the business group.”

After receiving approval from Mexican authorities, Ecopetrol has formally launched ECP Hidrocarburos México S.A. de C.V.

Bayón is expected to formally take over on September 15. The company did not reveal why Echeverry was stepping down.

Ecopetrol owns a 30% stake in the Anadarko-operated Warrior-2 well. The exact volume of the discovery is still under evaluation.

Repairs have not been completed due to “continued harassment by firing helicopters” and “anti-personnel mines,” said Ecopetrol.

The five top winners of the Ecopetrol Awards may receive more than $8,000 USD, and another 12 winners will walk away with $2,000 USD or more.

The new Ecopetrol subsidiary will be responsible for the subscription and execution of the petroleum contracts that the company has in Mexico.

The early payment is the result of what Ecopetrol called a “solid cash position" that left it with more than $6 billion USD on hand at the end of the first quarter.