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jobs and support economic prosperity and social headquartered in Bogotá, Colombia. Its oil and
INVESTMENT benefits for Mexico.” gas operations cover all stages of the value chain:
About Sempra Infrastructure: Sempra Infra- exploration and production, midstream (trans-
Sempra Infrastructure’s structure delivers energy for a better world. portation), refining and marketing. Ecopetrol is
Through the combined strength of its assets responsible for approximately 66% of Colombia’s
Mexico subsidiary credit in North America, the company is dedicated oil and 56% of its gas production. Since August
to enabling the energy transition and beyond. 2021, the company has owned a 51 stake in Inter-
rating upgraded by Fitch With a continued focus on sustainability, inno- conexion Electrica SA. The latter is a Colombian
vation, world-class safety, championing people, company that operates three main business lines
Sempra Infrastructure, a majority owned sub- resilient operations and social responsibility, its across Latin America: electric power transmis-
sidiary of Sempra, announced today that Fitch more than 2,000 employees develop, build and sion, toll road concessions, information and
Ratings has upgraded its Mexico subsidiary’s operate clean power, energy networks and LNG communications technology. The Colombian
long-term foreign and local currency issuer and net-zero solutions, that are expected to play government controls Ecopetrol through an
default rating as well as its senior unsecured a crucial role in the energy systems of the future. 88.49% stake, while institutional shareholders
notes to BBB+ from BBB. The outlook remains Sempra Infrastructure, March 14 2022 and retail investors own the remaining 11.51%.
stable. S&P Global Ratings, March 16 2022
The ratings upgrade is a result of the integra- S&P Global Ratings
tion of Sempra Infrastructure as a company that
consolidated Mexico’s operating company and assigns Ecopetrol PERFORMANCE
Sempra’s LNG business to advance three growth
platforms – clean power, energy networks, and ESG evaluation of 58 Canacol Energy reports
LNG and net-zero solutions – to capture new
opportunities aligned with the global energy S&P Global Ratings said today that it has results from Q4-2021 and
transition. assigned an ESG Evaluation of 58 to Ecopetrol.
According to Fitch, this result is based on The company’s ESG Evaluation is the result of an full year 2021
structural factors such as predictable and stable ESG profile of 58 combined with adequate pre-
cash flows, as well as a competitive position in paredness. Higher numbers indicate stronger Canacol Energy is pleased to report its financial
the energy infrastructure sector in Mexico. sustainability in our evaluations. and operating results for the three months and
This upgrade strengthens Sempra Infrastruc- Ecopetrol’s ESG Evaluation score of 58 year ended December 31, 2021, as well as its con-
ture’s financial position to advance its growth reflects that compared to sector peers, Ecopet- ventional natural gas reserves for the year ended
and investment strategy in North America rol has a good management of its environmental December 31, 2021.
through the development of large-scale projects and social risks in a highly exposed industry. In Highlights for the three months and year
in the region. our view, the company’s governance structure ended December 31, 2021:
“This credit ratings upgrade demonstrates and transparency on non-financial reporting are Realised contractual natural gas sales vol-
the trust in our new platform strength,” said stronger than those of Colombian and regional umes increased 10% and 6% to 185.9mn cubic
Tania Ortiz Mena, group president, Clean Power peers. We view Ecopetrol as adequately prepared feet per day and 181.4 mcf for the three months
and Energy Networks for Sempra Infrastructure. to address the long-term risks that the oil and gas and year ended December 31, 2021, compared
“We are proud of our performance as we con- industry faces including, but not limited to, the to 169.8 mcf and 171.6 mcf for the same periods
tinue advancing energy infrastructure invest- energy transition. in 2020, respectively. Average natural gas pro-
ments in North America that can create new Ecopetrol is an integrated energy company duction volumes increased 9% and 7% to 186.1
mcf and 182.8 mcf for the three months and year
ended December 31, 2021, compared to 170.1
mcf and 171.1 mcf for the same periods in 2020,
respectively. The increases are mainly due to
increased firm contract and spot market sales as
a result of less COVID-19 pandemic restrictions.
Total natural gas revenues, net of royalties and
transportation expenses increased 10% and 1%
to $67mn and $243.4mn for the three months
and year ended December 31, 2021, compared
to $60.9mn and $240.3mn for the same periods
in 2020, respectively, mainly attributable to an
increase in natural gas production.
Adjusted funds from operations increased
24% and 6% to $43.7mn and $153.8mn for the
three months and year ended December 31,
2021, compared to $35.3mn and $145.1mn for
the same periods in 2020, respectively.
Adjusted funds from operations per basic share
increased 25% and 7% to $0.25 per basic share
and $0.86 per basic share for the three months
and year ended December 31, 2021, compared

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