Ecopetrol Announces Discovery in the Deepwater Gulf of Mexico (U.S.)

     Ecopetrol Announces Discovery in the Deepwater Gulf of Mexico (U.S.)

PR Newswire

BOGOTA, Colombia, July 16, 2014

BOGOTA, Colombia, July 16, 2014 /PRNewswire/ -- Ecopetrol S.A. (BVC:
ECOPETROL; NYSE: EC; TSX: ECP) announces that its U.S. affiliate Ecopetrol
America Inc. has made significant advancements in the exploration of the
Norphlet Play throughout its partnership with Shell and Nexen Petroleum
Offshore U.S.A Inc.

Ecopetrol Logo

Shell, as operator in the partnership, announced that the Rydberg well was
successful. This well is located 75 miles (120 kilometers) offshore in the
Mississippi Canyon Block 525 in 7,479 feet (2,280 meters) of water. The well
was drilled to a total depth of 26,371 feet (8,038 meters) and
encounteredapproximately 400 feet (122 meters) of net oil pay.

This is the first discovery for the partnership of Shell Offshore Inc.
(operator, 57.2%), Ecopetrol America Inc. (28.5%) and Nexen Petroleum Offshore
U.S.A. Inc. (14.3%), a wholly-owned affiliate of CNOOC Limited.

Ecopetrol is Colombia's largest integrated oil & gas company, where it
accounts for 60% of total production. It is one of the top 50 oil companies in
the world and the fourth largest oil company in Latin America. The Company is
also involved in exploration and production activities in Brazil, Peru and the
United States Gulf Coast, and owns the main refineries in Colombia, most of
the network of oil and multiple purpose pipelines in the country,
petrochemical plants, and is entering into the biofuels business.

This release contains forward-looking statements relating to the prospects of
the business, estimates for operating and financial results, and those related
to growth prospects of Ecopetrol. These are merely projections and, as such,
are based exclusively on the expectations of management concerning the future
of the business and its continued access to capital to fund the Company's
business plan. Such forward-looking statements depend, substantially, on
changes in market conditions, government regulations, competitive pressures,
the performance of the Colombian economy and the industry, among other
factors; therefore, they are subject to change without prior notice.

Contact us for any additional information:

Investor Relations
Alejandro Giraldo
Phone: +571-234-5190

Media Relations (Colombia)
Mauricio Tellez
Phone: +571-2345377

SOURCE Ecopetrol S.A.

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