(MegaWhat) One of the main participants in the divestment program of Petrobras, in number of closed deals, the Brazilian 3R Petroleum sees no risk of discontinuity of the plan for the sale of assets of the state company of onshore fields, with the new management. For the company, which won six bids and still participates... Continue Reading →
ANP APPROVES PETROPOTIGUAR, NOBEL AND GIONGO IN THE PERMANENT OFFER
The Special Bidding Commission of the National Petroleum Agency (ANP) approved this week the enrollment of three new companies in the Permanent Offer: Giongo Oil and Gas, Nobel Energy and Petropotiguar Petróleo e Gás. There are 65 companies authorized to participate in this bidding process modality . Approved companies may declare interest in one or... Continue Reading →
PetroReconcavo prices IPO
PetroReconcavo defined the price range in its initial public offering (IPO) between R$ 15.50 to R$ 19.50 per share. Considering the base offer of 70 million shares and the middle range, R$ 17.50, the transaction may raise R$ 1.225 billion. The offer is totally primary, that is, the funds go to the company's cash. There... Continue Reading →
GeoPark Announces First Quarter 2021 Operational Update
(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil, and Argentina, today announced its operational update for the three-month period ended March 31, 2021 (“1Q2021”). All figures are expressed in US Dollars. Growth... Continue Reading →
Argentina considers oil price controls to support Vaca Muerta shale exploration
(Bloomberg) --Argentina’s government is pushing for long-term oil price controls as the South American nation runs out of time to unearth a shale trove in Patagonia. The idea of setting a ceiling and floor on domestic crude prices is being written into draft legislation aimed at spurring oil-and-gas investments, Production Minister Matias Kulfas said in... Continue Reading →
3R Petroleum: Oil production at Polo Macau rises 5.3% in March
The production of Polo Macau, operated by 3R Petroleum in the Potiguar basin (RN), rose 5.3% in March, to 4,866 barrels of oil per day, according to preliminary and unaudited information from the oil company. The average production of natural gas, however, fell slightly, from 910 million cubic meters per day to 902 million m³... Continue Reading →
Colombia provisionally approves ExxonMobil fracking pilot project
(Reuters) - Colombia has provisionally approved U.S. oil company ExxonMobil Corp’s plan to develop a pilot project for hydraulic fracturing, known as fracking, in the country’s Valle Medio del Magdalena basin, the oil regulator said on Wednesday. With the Platero investigative project ExxonMobil becomes the second company to begin a fracking pilot project in Colombia,... Continue Reading →
Robots Could Replace Thousands of Oil & Gas Jobs, Cut Drilling Costs – Rystad
Robots could replace hundreds of thousands of oil and gas jobs globally and reduce drilling labor costs by several billion dollars by 2030, if there is an industry push for such a transition, Rystad Energy has found. "Even when the Covid-19 downturn is finally past us, operators will have to continue exploring new avenues for... Continue Reading →
Petrobras starts binding phase of Bahia Terra Cluster
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 12/23/2020, informs the beginning of the binding phase, referring to the sale of all of its stakes in a set of 28 onshore production field concessions, located in the Recôncavo and Tucano Basins, in the state of Bahia, jointly called the Bahia Terra... Continue Reading →
3R Petroleum posted a loss of R$ 147.5 million and a positive EBITDA of R$ 50.5 million in 4Q20
3R Petroleum Oil and Gas recorded a loss of R$ 147.5 million in the fourth quarter of last year. With the result, the company recorded a total net loss of R$ 172.3 million in 2020. With regard to net revenue, the company recorded R$ 85.2 million in the fourth quarter, with a value of R$... Continue Reading →
Brazil Energy Insight 