Supplemental information on oil and gas producing activities (unaudited) (Tables)

12 Months Ended

Dec. 31, 2025

Supplemental information on oil and gas producing activities (unaudited)

Schedule of capitalized costs relating to oil and gas exploration and production activities


		2025		2024		2023
Natural and environmental properties		113,499		109,005		96,856
Wells, equipment, and facilities – property, plant, and equipment		47,638		42,387		35,897
Exploration and production projects		20,069		19,489		17,373
Accumulated depreciation, depletion, and amortization		(105,722)		(96,990)		(84,413)
Net capitalized cost		75,484		73,891		65,713

Schedule of costs incurred in oil and gas exploration and developed activities


		2025		2024		2023
Acquisition of proved properties (1)		—		1,972		38
Acquisition of unproved properties (2)		—		578		—
Exploration costs		3,354		3,378		2,912
Development costs		15,839		15,965		19,976
		19,193		21,893		22,926

(1)	For 2024, it corresponds to the acquisition of 45% interest in Block CPO-09. For 2023, it corresponds to 49% of participation contract in Barnett, acquired by Ecopetrol Permian.

(2)	For 2024, it corresponds to the acquisition of 45% interest in Block CPO-09.

Schedule of results of operations for oil and gas exploration and production activities


		2025		2024		2023
Net revenues
Sales		58,845		67,411		66,258
Transfers		12,207		13,677		15,257
		71,052		81,088		81,515
Production costs (1)		20,552		21,568		20,545
Depreciation, depletion, and amortization (2)		11,083		10,357		8,531
Other production costs (3)		22,315		22,938		22,752
Exploration expenses (4)		952		1,770		2,089
Other expenses (5)		5,329		3,636		7,508
		60,231		60,269		61,425
Income before income tax expense		10,821		20,819		20,090
Income tax expense		(2,755)		(9,627)		(9,250)
Results of operations for exploration and production activities		8,066		11,192		10,840

(1)

Production costs are lifting costs incurred to operate and maintain productive wells and related equipment and facilities including costs such as operating labor, materials, supplies, and fuel consumed in operations and the costs of operating natural gas liquids plants. In addition, they include expenses related to the asset retirement obligations that were recognized during 2025, 2024 and 2023 of $570, $636, and $478, respectively.

(2)	In accordance with IAS 37, the expense related to asset retirement obligations that were recognized during 2025, 2024 and 2023 in depreciation, depletion, and amortization, were $207, $704, and $439, respectively.

(3)	Includes transportation costs and naphtha that are not part of the Ecopetrol Group’s lifting cost.

(4)	Exploration expenses include the costs of geological and geophysical activities, as well as the non–productive exploratory wells.

(5)	It corresponds to administration, marketing expenses, and impairment.

Schedule of information relates to the net proven reserves owned by the Ecopetrol Business Group


		2025						2024						2023
		Oil		Gas		Total		Oil		Gas		Total		Oil		Gas		Total
		(Mbls)		(Gpc)		(Mbe)		(Mbls)		(Gpc)		(Mbe)		(Mbls)		(Gpc)		(Mbe)
Proved reserves:
Opening balance		1,522		2,116		1,892		1,471		2,346		1,883		1,515		2,828		2,011
Revisions of previous estimates (1)		164		(135)		141		94		(55)		84		38		(165)		9
Improved recovery		137		29		143		79		102		97		91		9		93
Purchases		12		22		16		35		5		35		—		—		—
Extensions and discoveries		—		—		—		42		40		49		17		—		17
Sales		—		—		—		(5)		(5)		(6)		—		—		—
Production		(199)		(277)		(248)		(194)		(317)		(250)		(190)		(326)		(247)
Closing balance		1,636		1,755		1,944		1,522		2,116		1,892		1,471		2,346		1,883
Proved developed reserves:
Opening balance		1,087		1,750		1,394		1,083		2,007		1,435		995		2,174		1,376
Closing balance		1,204		1,539		1,474		1,087		1,750		1,394		1,083		2,007		1,435
Proved undeveloped reserves:
Opening balance		435		366		498		388		339		448		520		654		635
Closing balance		432		216		470		435		366		498		388		339		448

Some values were rounded for presentation purposes.

Mbls = Million barrels

Gpc: Giga cubic feet

Mbe = Million barrels of oil equivalent

(1)	Represents changes in previous proved reserves, upward or downward, resulting from new information (except for an increase in a proved area), usually obtained from development drilling and production history or result from changes in economic factors.

Schedule of standardized measure of discounted future net cash flows relating to proved oil and gas quantities and changes therein


		2025		2024		2023
Future cash inflows		483,412		493,144		425,762
Future costs
Production (1)		(218,949)		(193,523)		(158,870)
Development		(40,983)		(49,299)		(40,677)
Income taxes		(72,960)		(84,245)		(80,373)
Future net cash flow		150,520		166,077		145,842
10% discount factor		(43,481)		(48,561)		(49,557)
Standardized measure of discounted net cash flows		107,039		117,516		96,285

(1)	Production future costs include the estimated costs related to assets retirement obligations in the amount of 26,287, $25,449, and $22,615, as of December 31, 2025, 2024, and 2023, respectively.

Schedule of principal sources of change in the standardized measure of discounted net cash flows


		2025		2024		2023
Net change in sales and transfer prices and in production cost (lifting) related to future production		(16,429)		41,742		(123,240)
Changes in estimated future development costs		(6,229)		(15,349)		(10,624)
Sales and transfer of oil and gas produced net of production costs		(50,500)		(59,519)		(60,970)
Net change due to extensions, discoveries, and improved recovery		8,778		3,723		6,173
Net change due to purchase and sales of minerals in place		—		1,501		—
Net change due to revisions in quantity estimates		15,796		8,877		967
Previously estimated development costs incurred during the year		23,283		27,042		34,815
Accretion of discount		17,713		14,935		28,677
Timing and other		(10,617)		4,828		(13,215)
Net change in income taxes		7,728		(6,549)		77,093
Aggregate change in the standardized measure of discounted future net cash flows for the year		(10,477)		21,231		(60,324)