Ecopetrol agrees deal to buy M&P's Hocol unit

Hocol has one of the biggest acreage holdings in Colombia but exploration results have been disappointing in recent years.

M&P announced the agreement in a statement but listed a number of South American assets that would be retained.

In Colombia these retained assets include a 100% stake in the Muisca, Sabanero and SN 9 exploration permits, plus 50% of Hocol's rights in the Tangara exploration permit, where the company operates for block partners Ecopetrol and Talisman.

M&P