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Ecopetrol CEO Juan Carlos Echeverry has called for an "extraordinary" shareholder meeting next month to fill open seats on the oil company's board of directors.

The drilling push is expected to bring Ecopetrol's new well count to 105 in 2016, with 35 additional wells coming to the lucrative Rubiales oilfield.

The Medellín utility credits the poor results largely to an El Niño-related drought that plagued Colombia in the early part of 2016.

Despite 98% of creditors approving a Catalyst Capital restructuring plan this week, Pacific Exploration says it is still weighing an alternative proposal from a group including its largest shareholder.

More than 98% of affected creditors approved the plan, and Pacific Exploration expects to get official sign off from a Canadian court on August 23.

With its share of Gunflint field, Ecopetrol America's operations in the United States now exceed 10,000 barrels of oil equivalent per day.

Pacific Exploration & Production Corp. has extended its proxy and election deadline until 5:00 p.m. on August 12, 2016.

The state-controlled oil giant and the U'wa community that has spent decades fighting energy firms have negotiated an end to their standoff in Norte de Santander.

While Ecopetrol's long-term foreign-currency IDR was maintained at BBB, its outlook has changed to negative, and the energy giant's long-term local-currency IDR was downgraded one notch.

This is Gran Tierra's third big play in Colombia already this year after the Calgary-based firm acquired Petroamerica Oil and PetroGrenada in January.