Ecopetrol (EC) is considering acquiring Carlyle Group's (CG) Colombian oil driller, SierraCol Energy, to boost reserves and output, Bloomberg reported late Tuesday, citing an interview with Ecopetrol executives.
Reuters reported last month that Carlyle is looking to sell SierraCol for $1.5 billion, Bloomberg said.
"We were invited to the process and are currently analyzing the option," Rafael Guzman, Ecopetrol's vice president of hydrocarbons, told Bloomberg. "We have yet to decide if we present an offer.
Carlyle Group didn't immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.