3R Petroleum announced Thursday evening (20) that it had signed a commitment to structure and issue debentures, with a firm placement guarantee, in the amount of US$ 500 million. This amount will join another US$ 500 million raised by the oil company in August, through financing led by Stanley Senior Funding. With this US$ 1 billion in hand, 3R will complete the acquisition of the Potiguar Complex, in the state of Rio Grande do Norte, currently operated by Petrobras.
Under 3R, the debentures will mature in 60 months, including prepayment flexibility starting on the 24th month.
“In terms of remuneration, the Debentures will be monetarily restated by the variation factor of the closing quotation of the selling rate of the US dollar, and, from the disbursement, interest corresponding to the SOFR reference rate plus 7.5% per year. The other conditions of the Debentures are described in the Term of Commitment”, wrote the CFO of 3R, Rodrigo Pizarro, in a statement to the market.
In the last 12 months, the Potiguar concessions recorded an average production of 18,000 barrels of oil/day. According to data from the reserve certification, prepared by the independent consultancy DeGolyer and MacNaughton, with a base date of December 31, 2021, the Potiguar Complex has 229.3 million barrels of oil equivalent of most probable proved reserves (2P), of which 169.7 million barrels (or 74%) are proved reserves (1P). Of the total 2P reserves, 98% represent oil reserves.