Eneva still cannot specify the volumes of oil discovered, but as soon as the tests are concluded, a notice to the market will be released
The oil company Eneva discovered signs of oil in its concession area in the Paranaíba Basin. The volumes have not yet been disclosed, because the company does not have this obligation with the ANP.
The Parnaíba basin is one of the twelve hydrographic regions of the Brazilian territory, which covers almost entirely the state of Piauí, part of Maranhão and a small area of Ceará. The thermoelectric plant that Technint is going to build for Eneva in Roraima receives an installation license.
Immediately, the company's shares rose 4,21% and were trading at R$ 29,46 at 10:25 am yesterday (24/09). In 2019 alone, the company's shares have already increased by 70%.
Eneva will also carry out tests to verify the volume of the discovery and thus discover its commercial viability for oil exploration in the region.
The company will adopt caution before making any announcement, since negative cases have already occurred recently, in advertisements for the companies of businessman Eike Batista, OGX and MPX.
A new era
When the discovery is confirmed, a new era will begin for Eneva, which operates thermal plants integrated to natural gas producing fields, known in the market as reservoir-to-wire (R2W).
The discovery also makes the company overcome the market's distrust of the ability to find gas to feed its production plants in this way. Eneva operates over 50 km² of area in Amazonas (AM) and in the Parnaíba Basins (MA).
Eneva's portfolio of contracted thermal generation capacity is 2,7 GW, with 81% already operational, being distributed as follows: 1,4 GW to natural gas (67%) and 725 MW to mineral coal (33%).
The company is the third largest company in terms of thermal capacity in Brazil, responsible for 11% of the installed gas thermal capacity in the country.
