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Natural and environmental resources
 6 Months Ended
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.