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Natural and environmental resources | 6 Months Ended
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Jun. 30, 2024
Natural and environmental resources. |
Natural and environmental resources |
| 14. | Natural and environmental resources
The movement of natural and environmental resources for the period ended June 30, 2024, with their corresponding depletions, calculated based on production units, and impairment, is as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Oil and gas | ​ | Assets retirement | ​ | Exploration and | ​ | ​
​ |  | investments |  | obligations |  | evaluation |  | Total
Cost |  |  |  |  |  |  |  |
Balance as of December 31, 2023 |  | 94,175,842 | ​ | 10,146,543 | ​ | 9,718,731 | ​ | 114,041,116
Additions/capitalizations (1) |  | 3,672,222 | ​ | 576 | ​ | 1,099,790 | ​ | 4,772,588
Abandonment cost update (Note 22) | ​ | — | ​ | (48,746) | ​ | — | ​ | (48,746)
Disposals |  | (28,120) | ​ | — | ​ | — | ​ | (28,120)
Disposals of exploratory assets and dry wells (2) | ​ | — | ​ | — | ​ | (604,922) | ​ | (604,922)
Capitalized financial interests (3) |  | 142,741 | ​ | — | ​ | 37,396 | ​ | 180,137
Exchange differences capitalized |  | 1,184 | ​ | — | ​ | 310 | ​ | 1,494
Foreign currency translation |  | 2,440,712 | ​ | 89,440 | ​ | 1,703 | ​ | 2,531,855
Reclassifications/transfers |  | 128,518 | ​ | (1,289) | ​ | (311,068) | ​ | (183,839)
Balance as of June 30, 2024 (Unaudited) |  | 100,533,099 | ​ | 10,186,524 | ​ | 9,941,940 | ​ | 120,661,563
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accumulated depletion and impairment losses |  | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance as of December 31, 2023 |  | (63,009,839) | ​ | (5,478,111) | ​ | (337,033) | ​ | (68,824,983)
Depletion expense | ​ | (3,393,971) | ​ | (428,289) | ​ | — | ​ | (3,822,260)
Disposals |  | 6,683 | ​ | — | ​ | — | ​ | 6,683
Foreign currency translation |  | (1,281,774) | ​ | (43,301) | ​ | — | ​ | (1,325,075)
Reclassifications/transfers |  | (109,018) | ​ | (1,843) | ​ | 159,485 | ​ | 48,624
Balance as of June 30, 2024 (Unaudited) |  | (67,787,919) | ​ | (5,951,544) | ​ | (177,548) | ​ | (73,917,011)
Balance as of December 31, 2023 |  | 31,166,003 | ​ | 4,668,432 | ​ | 9,381,698 | ​ | 45,216,133
Balance as of June 30, 2024 (Unaudited) |  | 32,745,180 | ​ | 4,234,980 | ​ | 9,764,392 | ​ | 46,744,552
(1) | Mainly includes a) Ecopetrol Permian for investments made in the drilling of wells and construction of facilities executed in Midland/Delaware, b) Ecopetrol S.A. by Castilla, Chichimene, Piedemonte, Caño Sur, Rubiales, and c) Hocol S.A. mainly in projects for the blocks Llanos, Perdices, Cor 9, VIM8, SN-18, Malacate, Guajira, Ocelote and SSJN1.
(2) | Includes: Ecopetrol S.A. the dry wells Orca 1, Morito, Machin 1, Arauca, Anturio and Cupiagua and b) Hocol S.A mainly unsuccessful wells Milonga and Sabanales and exploratory expenses mainly in Llanos, VIM8, Perdices, Cor-9, SN-18, Upar, Vim-42 and Guajira-gas.
(3) | Financial interest is capitalized based on the weighted average rate of loan costs.

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