Ecopetrol, Oxy get go-ahead to form Permian JV

Ecopetrol, Oxy get go-ahead to form Permian JV

M&A Equity Energy Gas US Colombia

Colombia's Ecopetrol said it has received regulatory approval in the United States to form a new joint venture with Occidental Petroleum to produce shale gas in the Midland Basin in western Texas.In July, when Ecopetrol announced plans to create the new company, it said it would pay $1.5bn for a 49% stake, split between $750m in cash and $750m in carried capital. It also said it would cover 75% of Occidental's share of investments during the five-year carry period. Occidental will operate the jo

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