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Ecopetrol And OXY Extend Permian Basin Development Plan; 34 New Wells Planned From April 2025 To June 2026

Benzinga·02/03/2025 12:39:43
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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, industry situation, and partners' interests.

Ecopetrol and Oxy will keep active an independent contract for the development of the Delaware sub-basin, will remain in force until 2027.