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Ecopetrol closes $1.2 billion deal for 51% of Brava Energia
The purchase gives Ecopetrol control of Brava's producing assets, with Brava output averaging about 78,800 boe per day in the first half of 2026.
Colombia's state-controlled oil company Ecopetrol has completed its roughly $1.2 billion acquisition of a controlling 51% stake in Brava Energia, expanding its footprint in Brazil's oil market, according to the Yahoo Finance story summarizing the transaction details.
The deal was structured in two parts, with about 25% of Brava shares acquired via a voluntary tender offer at R$23 per share, and an additional 26% bought from existing shareholders under an agreement reached in April.
Ecopetrol said the tender auction was successfully completed earlier in August, and the acquisition brings control of Brava's Brazilian offshore and onshore asset portfolio.
Brava produced an average of around 78,800 barrels of oil equivalent per day in the first half of 2026, rising to about 84,400 boe in June, and reported proved reserves of 459 million barrels of oil equivalent at end-2025 under PRMS standards. The transaction implies about $8.40 per boe of proved reserves and about $6.30 per boe of proved plus probable reserves, with Brava generating about $2.34 billion in revenue and $1.05 billion in EBITDA over the 12 months through June 2026.