By OGJ editors
HOUSTON, Jan. 25 -- Ecopetrol SA and Talisman Colombia acquired BP Exploration Co. Ltd. for $1.75 billion and renamed the company Equion Energia Ltd.
Ecopetrol owns 51% interest of Equion and Talisman owns the remainder. Equion consists of all assets and business formerly owned by BP’s Colombia subsidiary.
John A. Manzoni, Talisman president and chief executive officer, said, “Talisman looks to build a strong production base in Latin America over the next 3 to 5 years. We look forward to deepening our strategic relationship with Ecopetrol.”
Equion produces 90,000 boe/d of which it has direct ownership of 27,000 boe/d. Equion reports proved and probable reserves of 94 million bbl.