Ecopetrol
$ECOPETROL from Colombia 🇨🇴verhandelt with Occidental Petroleum
$OXY (+0,91 %) on the purchase of a 30% stake in CrownRocka shale oil producer.

The deal could be worth up to 3.6 billion US dollars.

If no agreement is reached, Ecopetrol could alternatively acquire 49% of CrownRock-assets through a joint venture.

Occidental plans to use the proceeds from this deal to repay part of its debt.

Despite the controversies surrounding shale oil production in Colombia, Ecopetrol already has shale activities in the USA 🇺🇸.