Enauta Considers Ending Operations at Atlanta Field After Partner Abandons Asset

Written by Flavia Marinho

Published on 04/11/2020 at 07:43

Saída de sócia no Campo de Atlanta, faz Enauta avaliar se assumirá a participação da Barra Energia no ativo ou procederá ao abandono conjunto.

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Exit of Partner at Atlanta Field Makes Enauta Assess Whether It Will Assume Barra Energia’s Stake in the Asset or Proceed with Joint Abandonment.

The oil company Enauta informed yesterday (03/11), through a relevant fact, that its partner Barra Energia do Brasil Petróleo e Gás will permanently exit the partnership for offshore exploration of Block BS-4, where the Atlanta Field is located in the Santos Basin. Debt-Free and with Two Billion Reais in Cash, Brazilian Enauta Wants to Go Shopping

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The definitive abandonment by Enauta would only occur after the necessary procedures were completed with the competent authorities.

Enauta stated that it has been reviewing the project with the goal of making it more robust and resilient to new oil price scenarios, generating greater value for shareholders. “With Barra Energia’s notification, this study will be accelerated and will support the company’s decision,” said Décio Oddone, president of Enauta, in a statement.

The Brazilian oil company operates the Atlanta Field with a 50% stake, the same percentage held by Barra Energia. Enauta is one of the main privately controlled companies in the exploration and production sector in Brazil.

Enauta has two producing assets: the Manati Field, one of the main gas suppliers in the Northeast region, in which it holds a 45% stake, and the Atlanta Field, located in the deep waters of the Santos Basin.

In 2019, Atlanta had an average monthly production of 19,000 barrels of oil per day (kbopd), considering the three producing wells equipped with subsea Christmas trees and submersible centrifugal pumps, according to Enauta’s information.

Enauta Considers Ending Operations at Atlanta Field After Partner Abandons Asset

Exit of Partner at Atlanta Field Makes Enauta Assess Whether It Will Assume Barra Energia’s Stake in the Asset or Proceed with Joint Abandonment.

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