Brought to you by Quest Offshore & Southern Cone Consultants
(Bloomberg) -- Petrobras’ shift away from oil-field divestment is motivating a pivot by Brazil’s junior drillers to corporate acquisitions as the most-viable expansion strategy. The independent Brazilian crude producers that grew the most from buying Petrobras’ fields — PRIO SA, 3R Petroleum Oleo e Gas SA, Enauta Participacoes SA and PetroReconcavo SA — are all... Continue Reading →
(OE) Norwegian seismic firms TGS and PGS have received merger approval from the Norwegian Competition Authority (NCA), brining them one step closer to establish a premier energy data company. The merger between the companies, first announced in September 2023, has been subject to review by the competition authorities in the UK as well as in... Continue Reading →
3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”) (B3: RRRP3), under the terms of art. 157, § 4, of Law No. 6,404 and CVM Resolution No. 44, communicates to its investors and the market in general, following the material fact disclosed on April 1, 2024, that has signed, on this date, Memorandum of Understanding... Continue Reading →
(PN) Enauta announced that its Board of Directors approved the presentation of a proposal for the business combination with 3R Petroleum. The operation could create one of the main independent operators in Brazil and Latin America, with production potential that could exceed 100 thousand barrels of oil equivalent per day – in line with the... Continue Reading →
(OE) Enauta has proposed the merger with 3R Petroleum which would create one of the largest and the most diversified independent oil and gas companies in Latin America. The merger proposal has been approved by Enauta’s board of directors, and according to the company, the combination results in a balanced, five-year high organic growth portfolio... Continue Reading →
(OM) Dril-Quip and Innovex Downhole Solutions, a supplier of well life-cycle technologies and services, have agreed to merge via an all-stock transaction. On closure, Dril-Quip stockholders would own around 52% of the combined company and Innovex stockholders around 48%. The new group, with annual revenue of over $1 billion, would offer clients technical solutions for... Continue Reading →
(Reuters) U.S. oil producer Hess said on Thursday it was reviewing the timeline for closing its merger with Chevron, after oil major Exxon Mobil signaled a potential counter offer for Hess's Guyana assets. Exxon on Wednesday filed a contract arbitration claim related to Hess' proposed sale of its Guyana oil properties and suggested it may... Continue Reading →
(Offahore-energy.biz) The shifting sands of time are bringing winds of change to the global energy landscape in a bid to make it more sustainable, so that, the climate change woes can be tackled before time runs out. This has spurred decarbonization over the years, imbuing it with greater vigor. However, these efforts are not yet... Continue Reading →
(PN) 3R announced that it hired Itaú BBA as the company's financial advisor in evaluating the operation. The consultancy includes, together with internal teams and legal advisors, the evaluation of the strategy and schedule, and the analysis of the best corporate structure for implementing the potential transaction, if implemented. As a reminder, the merger proposal... Continue Reading →
(BJ) A relevant shareholder of 3R Petroleum is proposing a carveout of the company's onshore oil fields and the incorporation of these assets by PetroReconcavo, in a transaction that shows the struggle of junior oils for scale, sources familiar with the matter told Brazil Journal. The rationale for the transaction is already known to the... Continue Reading →
Brazil Energy Insight 