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Colombia’s state controlled petroleum producer Ecopetrol S.A. (BVC: ECOPETROL, NYSE: EC) and Shell (AMS: RDSA, NYSE: RDS.A) through Shell subsidiary Shell EP Offshore Ventures Limited, signed a deal which will see Shell acquire a 50% stake in the Fuerte Sur, Purple Angel and...

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

With multiple proven wells and four gas blocks in the area, Ecopetrol believes it may be able to begin extracting the resources more efficiently.

"Both wells confirm the potential of this hydrocarbon province, located in the southern Colombian Caribbean," said Ecopetrol.

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) has issued a statement indicating that, along with partner Anadarko, it has verified the presence of hydrocarbon resources at the ultra-deepwater depth of 3720 meters, via its Kronos-1 well in the Fuerte Sur block. This...