ENAUTA FORESEES DRILLING IN SERGIPE-ALAGOAS STILL IN 4Q21

(PetroleoHoje) The consortium formed by ExxonMobil (50%), Enauta (30%) and Murphy (20%) should drill the first well in the Cutthroat prospect, in the Sergipe-Alagoas Basin, still in 4Q21. Enauta will invest US$ 8 million in this well.

The prospect to be drilled in the SEAL-M-428 block extends to the SEAL-M-351 block, which has the same companies as concessionaires. Drilling will be carried out by Seadrill’s West Saturn rig, which is operating in Titan, in the Campos Basin, where Exxon found evidence of hydrocarbons in the wildcat well.

Enuta forecasts the resumption of activity in the third well in 1Q22 in Atlanta, in the Santos Basin. In August, the company signed a Memorandum of Understanding with Yinson for the direct and exclusive negotiation of FPSO supply contracts for the Definitive System (SD) of the asset. The Atlanta SD bid was launched on the market in March of this year.

The company is also looking for a rig to drill the fourth well of the anticipated production system in that area. The expectation is that the unit will start operating in 2022, the year in which the company estimates investments of US$ 96 million in Atlanta, destined to the subsea and drilling systems for the new SD wells.

Results

Enauta’s net income in 3Q21 was R$134 million, which represents an increase of 351.7% compared to the third quarter of 2020, but a reduction of 79% compared to the record net income of the second quarter of 2021, which was BRL 635.7 million. The result was published on Wednesday (10/11).

In 3Q21, the company’s net revenue, corresponding to R$ 588.3 million, was 162% higher than in the third quarter of last year. Compared to 2Q21 (R$349.4 million), there was an increase of 68%. The company obtained a cash flow of R$ 2.4 billion, with an average daily production of 21.7 thousand boe during the period.

Assets

In the production phase, Enauta operates the Atlanta field, in the Santos Basin, with a 100% interest, and is a concessionaire in the Manati field, in the Camamu-Almada Basin, with a 45% interest. This stake was sold to Gas Bridge last year, which depends on regulatory approval.

In the exploration phase, the company has interests in 20 exploratory blocks in the basins of Foz do Amazonas (FZA-M-90), Para-Maranhao (PAMA-M-265 and 337), Sergipe-Alagoas (SEAL-M-351, 428, 430, 501, 503, 505, 573, 575 and 673), Camamu-Almada (CAL-M-372), Espirito Santo (ES-M-598 and 673) and Parana (PAR-T-86, 99, 196 and 215).