Ecopetrol has agreed to acquire an initial 26% stake in Brava Energia , with plans to pursue a 51% controlling interest, a move that expands its upstream presence in a key growth market. Brazil remains a pivotal market for Latin American oil and gas, and Ecopetrol’s move comes as the company seeks to diversify its asset base and maintain capital discipline amid fluctuating commodity prices. Brava, formed in 2024 from the merger of 3R Petroleum and Enauta, reported an average production of about 81,000 boed in 2025 and holds roughly 459 MMboe of reserves. Ecopetrol will purchase approximately 26% of Brava’s outstanding shares, with a tender offer to reach 51% subject to regulatory approvals. Ecopetrol said the transaction would allow it to add proportional reserves and production, supporting long‑term output sustainability and cash flow generation. The acquisition aligns with Ecopetrol’s broader strategy to diversify its asset base and expand internationally, while maintaining capital discipline. The company expects to fund the transaction through a bridge loan, with closing subject to approval by Brazil’s competition authority and other requirements. If completed, the deal will position Ecopetrol with a larger, more diversified upstream portfolio anchored by producing and development assets in one of Latin America’s most active oil and gas markets, strengthening its competitive stance in Brazil.