Enauta Has Not Decided What to Do with Its Stake in the Atlanta Oil Field, Abandoned by Its Partner Barra Energia

Written by Flavia Marinho

Published on 01/12/2020 at 13:50

Enauta é uma das principais empresas de controle privado do setor de exploração e produção de petróleo e gás no Brasil.

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Enauta Is One of the Main Private Control Companies in the Oil and Gas Exploration and Production Sector in Brazil.

The Brazilian oil company Enauta reported yesterday (30/11), in a relevant fact, that it is still studying what to do with its half in the oil exploration block (Block BS-4), located in the Atlanta field, in the Santos Basin, abandoned by its partner Barra Energia announced at the beginning of last month. Energy Plataform Seeks Partnership to Build Natural Gas Hub in Rio de Janeiro and Espírito Santo

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The oil company explained in the statement that, by mutual agreement, it continues negotiations with Barra Energia in search of the best commercial solution for both companies.

Enauta had until November 28 to decide whether to join the withdrawal from the block or take over the other half left by the partner in the Atlanta field.

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“In this regard, considering that the initially informed deadline of November 28, 2020 has expired, this Relevant Fact serves to inform that Barra Energia and the company, by mutual agreement, continue negotiations in search of the best commercial solution for both,” emphasized Enauta in the statement.

Recently, the oil company halted production in the Atlanta oil field due to equipment damage. According to company information, corrosion was found in oil heaters, which could compromise their operation due to this situation.

Enauta Reported Net Income of R$ 39.4 Million in the Third Quarter of This Year

Enauta reported net income of R$ 39.4 million in the third quarter, a 6% decrease compared to R$ 41.9 million in the same period of 2019.

The company’s net revenue was R$ 224.5 million in the third quarter, 29% below R$ 316.2 million in the third quarter of last year. The company justified the drop due to lower production from the Atlanta and Manati fields, a fact partially offset by the result of R$ 13.1 million from hedge exercises in the quarter.

Enauta Participações S/A is an oil exploration company, formerly QGEP Participações S/A. The company has a market value of R$ 2.53 billion. Check the full analysis of the company with exclusive information.

Enauta Has Not Decided What to Do with Its Stake in the Atlanta Oil Field, Abandoned by Its Partner Barra Energia

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Enauta Has Not Decided What to Do with Its Stake in the Atlanta Oil Field, Abandoned by Its Partner Barra Energia

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