Colombia’s Ecopetrol SA saw its production take a hit in the second quarter because of social unrest in the country but management foresees a strong recovery this year.

Permian

Ecopetrol was also boosted in the second quarter by its joint venture (JV) with Occidental Petroleum Corp. in the Permian Basin’s Midland formation in West Texas.

“Social unrest caused a complex situation locally,” CEO Felipe Bayón said in an earnings call, but by the end of June operations had been restored to normal. Permian results, he added, “were outstanding.”

Ecopetrol accounts for more than 60% of the hydrocarbon production in Colombia, and it owns the largest refineries and most of the country’s oil and multi-purpose pipelines. It also has upstream assets overseas in Brazil and the United...