The net profit of the oil company Enauta in 2021 reached the level of R$ 1.4 billion, a record in the company’s history. According to the company, the result was driven by the price of Brent oil, the appreciation of low sulfur oil and the recognition of the entire Atlanta field. Another important factor was the production of Manati, responsible for 18% of the company’s total revenue. Enauta’s profit in 2021 grew 1,065% compared to 2020. “The increase was mainly due to the registration of the value of the additional 50% interest in the Atlanta Field, in the second quarter of 2021, and the recognition of the sale of Carcará, in the fourth quarter of 2021”, detailed the company.
Enauta CEO Décio Oddone said that 2021 was emblematic for the company. “We took over the entirety of the Atlanta Field and we were successful in starting the implementation of the Definitive System, a robust project and a milestone for the Company, which will help increase production in the coming years. We stayed in Manati, reassessed the asset and today we released a new certification that attests to a 54% increase in 2P [proved most probable] reserves over the previous year,” said the executive.
Looking at the data for the fourth quarter of 2021, the company’s net income was BRL 690.7 million compared to BRL 38.2 million recorded in the same period of the previous year. Enauta ended last year with a cash position of R$ 3 billion, which is 77.9% higher than the balance in 2020. Of these funds, 60% were dollarized at the end of the fourth quarter, protecting the company’s investment capacity. company to execute its growth and portfolio expansion strategy.
“Seeking to optimize our capital structure in the medium and long term, we remain firm with our efforts to evaluate inorganic growth options, as long as they are captured at the right price and bring an attractive return. In this way, we seek to build the Brazilian independent company with the portfolio with the greatest potential to generate value for our shareholders, positioning ourselves to be part of a possible process of consolidation in the sector in the future”, concluded Oddone.
The total oil production recorded by Enauta in 2021 amounted to 6.7 million barrels of oil equivalent (boe), which corresponds to an average daily production of 22.1 thousand boe (4Q21) and 18.3 thousand boe (year 2021). ). The fourth quarter registered a production of 2.0 million boe. Production from the Atlanta field grew by 93.5% in the fourth quarter of 2021 compared to the same period a year ago. Atlanta currently produces about 13,000 barrels a day. In the Manati field, average daily production was 3.1 million m³ in 4Q21.
Brazil Energy Insight 
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