Ecopetrol proven reserves hit four-year high as replacement ratio surges

Ecopetrol (NYSE:EC), the Colombian energy giant, reported on Thursday that its proven hydrocarbon reserves (1P) climbed to 1,944.2 million barrels of oil equivalent (mmboe) at the close of 2025.

The 2.7% increase from the previous year marks a significant operational turnaround, with the company achieving its highest reserves replacement ratio in four years.

The Bogotá-based producer delivered a reserves replacement ratio (RRR) of 121%, meaning it successfully added more than 1.2 barrels to its inventory for every barrel produced throughout 2025.

This milestone was achieved despite a challenging pricing environment, as the Brent reference price used for SEC-standard reserve valuation fell nearly 14% to $68.64 per barrel.

Total reserve contributions for the year reached 300 mmboe, while the average reserve life remained stable at 7.8 years.