🇺🇸 SECECOPETROL S.A.Codex · 实盘不做把握 8/10不做原因:无增量信息
北京时间·🕒 发布 18:01:51·⟳ 抓取 18:02:34 +43s·⚡ 决策 09-08 19:03:25 +1h00m·48.9 天前
Ecopetrol债权人会议批准子公司合并,但不改债券经济条款
这是对3月已批准合并方案的债权人程序性确认,公司又明确表示不改变现有债券经济/财务条款;9月5-6日已被官方和媒体转述,新增可交易信息不足。
📄 原文ECOPETROL S.A.↗ 原文
----- ec20260905_6k.htm ----- 6-K 1 ec20260905_6k.htm 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington,…
不做 Ecopetrol S.A.(EC.US)
程序性合并批准已被3月股东会和8月底召集流程铺垫,且公司明确称不改变债券经济/财务条款;信息已公开扩散,缺乏可交易增量。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
结论摘要
事实链上,核心合并在2026-03-27已获股东会批准,9月4日只是本地债券持有人二次召集表决并于9月5日披露结果。公司还明确说明该批准不修改现有普通债券的经济或财务条款,因此对Ecopetrol股权价值和可交易预期的增量很弱,且已进入公开传播链,宜回避。
消息传播链
- 公司先披露了二次召集债权人会议,说明市场早已知道会对合并方案进行表决。
- 官方披露债权人会议已通过合并方案,但同时说明不改变现有普通债券经济或财务条款。
- 当地财经媒体在次日转载,确认该消息已进入广泛传播阶段。
关键理由
- 事件本质是既有合并方案的后续程序确认,不是新的业务或财务 surprise。
- 公司已明确披露不改变现有债券经济/财务条款,直接价格驱动有限。
- 该事项在9月5-6日已公开传播,边际信息很可能已被消化。
主要风险
- 若后续出现合并完成日程、税务处理或资产整合的实质新增披露,才可能重新定价。
- 若市场此前完全忽略该内部整合的税务/效率收益,理论上仍可能有极弱正面尾巴,但不足以支持入场。
反向证据
- 做多前查反向 · 来源 web · 日期 2026-09-05 · 影响 weakens
官方披露明确写明不修改现有普通债券的经济或财务条款,削弱新增多头逻辑。
检索:Ecopetrol bondholders approved merger no change economic or financial terms 原文 ↗
先例如何影响了这次决策
对本次决策的影响:先例不足进一步支持回避,不足以改变到ENTER。
方向:无足够高相似、同市场、同阶段且带清洁首发锚的可比先例,不能据此给出方向性交易支持。
涨幅量级:本轮事件更像程序确认而非新增价值重估,没有可靠先例可校准幅度。
形态:未发现可验证的见光死或持续重估模式。
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原文全文
展开原文 · 7,260 字
----- ec20260905_6k.htm -----
6-K
1
ec20260905_6k.htm
6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of September, 2026
Commission File Number 001-34175
ECOPETROL S.A.
(Exact name of registrant as specified in its charter)
N.A.
(Translation of registrant’s name into English)
COLOMBIA
(Jurisdiction of incorporation or organization)
Carrera 13 No. 36 – 24
BOGOTA D.C. – COLOMBIA
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F
x
Form 40-F
¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1)
Yes
¨
No
x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7)
Yes
¨
No
x
Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes
¨
No
x
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-
N/A
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Ecopetrol S.A.
By:
/s/ Alfonso Camilo Barco
Name:
Alfonso Camilo Barco
Title:
Chief
Financial Officer
Date: September 8,
2026
----- ex99-1.htm -----
EX-99.1
2
ex99-1.htm
EX-99.1
Ecopetrol Reports Results of Bondholders’ Meetings
for Domestic
Public Debt Bonds Held at Second Call
Bogotá, September 05, 2026
Ecopetrol S.A. (BVC: ECOPETROL;
NYSE: EC) (the "Company") hereby reports that, on September 4, 2026, the second-call ordinary meetings of the bondholders of
the local bond issuances made in 2010 and 2013 (respectively, the "2010 Issuance" and the "2013 Issuance") were held.
These meetings were previously convened by the bondholders' representatives, Alianza Valores Fiduciaria S.A. and Itaú Fiduciaria
Colombia S.A. (collectively, the “Representatives”), through a notice published in a newspaper of wide national circulation
on August 27, 2026.
The Representatives convened
the second-call meetings for the purpose of submitting for the consideration of the local bondholders the proposed merger by absorption
between Ecopetrol S.A. (as the surviving entity) and Parque Solar Portón del Sol S.A.S. (as the absorbed entity) (the "Merger"),
in accordance with Article 6.4.1.1.22 of Decree 2555 of 2010.
With respect to the 2010 Issuance,
Alianza Valores Fiduciaria S.A. verified an initial quorum representing 79.16% of the outstanding principal amount of the 2010 bonds,
which was sufficient to adopt the decisions considered at the meeting. The bondholders present at the meeting cast their votes on each
item of the agenda as follows:
Matter Submitted for Consideration at the Meeting of Holders of the 2010 Issuance
Votes in favor
Votes against
Abstention
Approval of the agenda
100%
0%
0%
Appointment of the Chairman and Secretary of the Meeting of Ecopetrol Bondholders
100%
0%
0%
Appointment of the Committee for the Approval and Signature of the Minutes of the Meeting of Ecopetrol Bondholders
100%
0%
0%
Approval of the proposed Merger
94.65%
0%
5.35%
With respect to the 2013 Issuance,
Itaú Fiduciaria Colombia S.A. verified a quorum representing 79.95% of the outstanding principal amount of the 2013 bonds, which
was sufficient to adopt the decisions considered at the meeting. The bondholders present at the meeting cast their votes on each item
of the agenda as follows:
Matter Submitted for Consideration of the Meeting of Holders of the 2013 Issue
Votes in favor
Votes against
Abstention
Approval of the agenda
100%
0%
0%
Appointment of the Chairman and Secretary of the Ecopetrol Bondholders' Meeting
100%
0%
0%
Appointment of the Committee for the approval and signature of the minutes of the Ecopetrol Bondholders' Meeting.
73.73%
0%
26.27%
Approval of the proposed Merger
100%
0%
0%
Considering the foregoing, the
bondholders of the local issuances made in 2010 and 2013 approved the proposed Merger by a majority of 74.92% and 80.77%, respectively,
of the total outstanding principal amount, in compliance with Article 6.4.1.1.1. 22 of Decree 2555 of 2010. Such article establishes that,
in order to adopt decisions at a second-call meeting, the following are required: (i) the affirmative vote of a majority of the bondholders
present at the meeting; and (ii) the affirmative vote of holders representing at least forty percent (40%) of the outstanding principal
amount of the bonds.
The approval granted by the bondholders'
meetings does not modify the economic or financial terms of the Company's outstanding ordinary bond issuances.
---------------------
Ecopetrol is the largest company in Colombia and
one of the main integrated energy companies in the American continent, with more than 19,000 employees. In Colombia, it is responsible
for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading
positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA’s shares, the company participates
in energy transmission, the management of real-time systems (XM), and the Barranquilla–Cartagena coastal highway concession. At
the international level, Ecopetrol has a stake in strategic basins in the American continent, with drilling and exploration operations
in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds
leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications
sector.
This release contains statements that may be considered
forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S.
Securities Exchange Act of 1934, as amended. All forward-looking statements, whether made in this release or in future filings or press
releases, or orally, address matters that involve risks and uncertainties, including in respect of the Company’s prospects for growth
and its ongoing access to capital to fund the Company’s business plan, among others. Consequently, changes in the following factors,
among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of
oil & gas, our exploration, and production activities, market conditions, applicable regulations, the exchange rate, the Company’s
competitiveness and the performance of Colombia’s economy and industry, to mention a few. We do not intend and do not assume any
obligation to update these forward-looking statements.
For more information, please contact:
Investor Relations Office
Email: investors@ecopetrol.com.co
Corporate Communications (Colombia)
Email: _noticias@ecopetrol.com.co
6-K
1
ec20260905_6k.htm
6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of September, 2026
Commission File Number 001-34175
ECOPETROL S.A.
(Exact name of registrant as specified in its charter)
N.A.
(Translation of registrant’s name into English)
COLOMBIA
(Jurisdiction of incorporation or organization)
Carrera 13 No. 36 – 24
BOGOTA D.C. – COLOMBIA
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F
x
Form 40-F
¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1)
Yes
¨
No
x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7)
Yes
¨
No
x
Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes
¨
No
x
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-
N/A
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Ecopetrol S.A.
By:
/s/ Alfonso Camilo Barco
Name:
Alfonso Camilo Barco
Title:
Chief
Financial Officer
Date: September 8,
2026
----- ex99-1.htm -----
EX-99.1
2
ex99-1.htm
EX-99.1
Ecopetrol Reports Results of Bondholders’ Meetings
for Domestic
Public Debt Bonds Held at Second Call
Bogotá, September 05, 2026
Ecopetrol S.A. (BVC: ECOPETROL;
NYSE: EC) (the "Company") hereby reports that, on September 4, 2026, the second-call ordinary meetings of the bondholders of
the local bond issuances made in 2010 and 2013 (respectively, the "2010 Issuance" and the "2013 Issuance") were held.
These meetings were previously convened by the bondholders' representatives, Alianza Valores Fiduciaria S.A. and Itaú Fiduciaria
Colombia S.A. (collectively, the “Representatives”), through a notice published in a newspaper of wide national circulation
on August 27, 2026.
The Representatives convened
the second-call meetings for the purpose of submitting for the consideration of the local bondholders the proposed merger by absorption
between Ecopetrol S.A. (as the surviving entity) and Parque Solar Portón del Sol S.A.S. (as the absorbed entity) (the "Merger"),
in accordance with Article 6.4.1.1.22 of Decree 2555 of 2010.
With respect to the 2010 Issuance,
Alianza Valores Fiduciaria S.A. verified an initial quorum representing 79.16% of the outstanding principal amount of the 2010 bonds,
which was sufficient to adopt the decisions considered at the meeting. The bondholders present at the meeting cast their votes on each
item of the agenda as follows:
Matter Submitted for Consideration at the Meeting of Holders of the 2010 Issuance
Votes in favor
Votes against
Abstention
Approval of the agenda
100%
0%
0%
Appointment of the Chairman and Secretary of the Meeting of Ecopetrol Bondholders
100%
0%
0%
Appointment of the Committee for the Approval and Signature of the Minutes of the Meeting of Ecopetrol Bondholders
100%
0%
0%
Approval of the proposed Merger
94.65%
0%
5.35%
With respect to the 2013 Issuance,
Itaú Fiduciaria Colombia S.A. verified a quorum representing 79.95% of the outstanding principal amount of the 2013 bonds, which
was sufficient to adopt the decisions considered at the meeting. The bondholders present at the meeting cast their votes on each item
of the agenda as follows:
Matter Submitted for Consideration of the Meeting of Holders of the 2013 Issue
Votes in favor
Votes against
Abstention
Approval of the agenda
100%
0%
0%
Appointment of the Chairman and Secretary of the Ecopetrol Bondholders' Meeting
100%
0%
0%
Appointment of the Committee for the approval and signature of the minutes of the Ecopetrol Bondholders' Meeting.
73.73%
0%
26.27%
Approval of the proposed Merger
100%
0%
0%
Considering the foregoing, the
bondholders of the local issuances made in 2010 and 2013 approved the proposed Merger by a majority of 74.92% and 80.77%, respectively,
of the total outstanding principal amount, in compliance with Article 6.4.1.1.1. 22 of Decree 2555 of 2010. Such article establishes that,
in order to adopt decisions at a second-call meeting, the following are required: (i) the affirmative vote of a majority of the bondholders
present at the meeting; and (ii) the affirmative vote of holders representing at least forty percent (40%) of the outstanding principal
amount of the bonds.
The approval granted by the bondholders'
meetings does not modify the economic or financial terms of the Company's outstanding ordinary bond issuances.
---------------------
Ecopetrol is the largest company in Colombia and
one of the main integrated energy companies in the American continent, with more than 19,000 employees. In Colombia, it is responsible
for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading
positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA’s shares, the company participates
in energy transmission, the management of real-time systems (XM), and the Barranquilla–Cartagena coastal highway concession. At
the international level, Ecopetrol has a stake in strategic basins in the American continent, with drilling and exploration operations
in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds
leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications
sector.
This release contains statements that may be considered
forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S.
Securities Exchange Act of 1934, as amended. All forward-looking statements, whether made in this release or in future filings or press
releases, or orally, address matters that involve risks and uncertainties, including in respect of the Company’s prospects for growth
and its ongoing access to capital to fund the Company’s business plan, among others. Consequently, changes in the following factors,
among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of
oil & gas, our exploration, and production activities, market conditions, applicable regulations, the exchange rate, the Company’s
competitiveness and the performance of Colombia’s economy and industry, to mention a few. We do not intend and do not assume any
obligation to update these forward-looking statements.
For more information, please contact:
Investor Relations Office
Email: investors@ecopetrol.com.co
Corporate Communications (Colombia)
Email: _noticias@ecopetrol.com.co
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每次领取产生一条记录,重新决策追加一条并以 supersedes 指向被替代的记录(ADR 0014)。
这条决策早于决策账本(2026-10-08 起逐条追加),没有追加记录。