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Eike Batista's OGX changed its name to get back on its feet

Written by Paulo Nogueira
Published 21/09/2017 às 07:09
Updated 22/09/2017 às 10:56

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OGX ended up together with Eike Batista

With this measure, the new company will start 2018 with a producing oil field and a 40% concession in a Queiros Galvão asset

[supsystic-social-sharing id='1′]OGX becomes Dommo Energia. Company launches new brand after end of court-supervised reorganization process that reduced liabilities to R$2 billion. OGX will be renamed Dommo Energia as of this Wednesday (20/9). The company abandons the name and blue logo from the times when it was led by Eike Batista and launches a new brand, adopting the colors yellow, red and orange. The changes mark an attempt to rebuild after the judicial recovery process, which began in October 2013 and ended last month.



At the end of the first half of 2017, the company had managed to reduce its liabilities to BRL 2 billion, a strong improvement in relation to the beginning of the process, when debts reached BRL 13 billion. The company is reborn with just one producing asset, the Tubarão Martelo field, in the Campos Basin. The company also has a 40% stake in Atlanta, an area in the Basin operated by QGEP that should start producing in 2018. Source: MOS Consulting

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Paulo Nogueira

An electrical engineer graduated from one of the country's technical education institutions, the Instituto Federal Fluminense - IFF (formerly CEFET), I worked for several years in the areas of offshore oil and gas, energy and construction. Today, with over 8 publications in magazines and online blogs about the energy sector, my focus is to provide real-time information on the Brazilian employment market, macro and micro economics and entrepreneurship. For questions, suggestions and corrections, please contact us at informe@clickpetroleoegas.com.br. Please note that we do not accept resumes for this purpose.

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