Ecopetrol S.A. (NYSE:EC) Q3 2024 Earnings Conference Call November 14, 2024 9:00 AM ET
Company Participants
Ricardo Roa - Chief Executive Officer
Rafael Guzman - Acting Executive Vice President, Hydrocarbons
David Riano - Executive Vice President, Transition Energy
Camilo Barco - Chief Financial Officer
Julián Lemos - Acting Vice President, Strategy & New Businesses
Sandra Rodríguez - Corporate Vice-President of Territorial
Javier Cardenas - Chief Value Officer
Conference Call Participants
Katherine Ortiz - Corredores Davivienda
Juan José Muñoz - BTG Pactual
Andrés Cardona - Citibank
Ricardo Sandoval - Bancolombia
Andres Duarte - Corficolombiana
Rodrigo Almeida - Banco Santander
Bruno Montanari - Morgan Stanley
Operator
Good morning. My name is Natalia, and I will be your operator today. Welcome to Ecopetrol's Earnings Conference Call, in which we will discuss the main financial and operational results as of the Third Quarter of 2024. There will be a questions-and-answers session at the end of the presentation.
Before we begin, it is important to mention that the comments in this call by Ecopetrol senior management include projections of the company's future performance. These projections do not constitute any commitment as to future results, nor do they take into account risks or uncertainties that could materialize. As a result, Ecopetrol assumes no responsibility in the event that future results are different from the projections shared on this conference call.
The call will be led by Mr. Ricardo Roa, CEO of Ecopetrol; Rafael Guzman, Acting Executive Vice President of Hydrocarbons; Camilo Barco, CFO; and David Riano, Executive Vice President of Transition Energy.
Thank you for your attention. Mr. Roa, you may begin your conference.
Ricardo Roa
Welcome to the operational and financial results call of the Ecopetrol Group as of September 2024. I am pleased to report that we have maintained solid growth across all our operational segments, reflecting the commitment and dedication of our team, as well as the company's resilience in addressing operational and environmental challenges.
By the end of September 2024, we achieved a production of 752,000 barrels of oil equivalent, a figure we have not seen in the last nine years. Additionally, we transported an average of 1,126,000 barrels per day and reached the highest level of refining throughput in the history of our refineries with an average of 418,000 barrels per day.
In terms of production, I would like to highlight the status operations at the Orotoy station, which received the first barrel of crude oil from the Akacias field in October. This facility will be able to process up to 15,000 barrels of crude oil; 60,000 barrels of water and 700,000 cubic feet of gas daily. In the medium-term, it could reach up to 50,000 barrels of crude oil per day, ensuring production and reserves for the coming years.