Seacrest Plans To Drill 14 New Oil Wells And Invest R$ 130 Million In Its Operations In Espírito Santo

In Espírito Santo, Seacrest Aims to Acquire and Act in the Redevelopment of Mature Oil Fields, Having Conducted Transactions of Up to 26 Million Dollars to Complete the Necessary Procedures.

With an eye on profit growth, the purpose of the oil company is to reach a production mark of 30,000 barrels of oil per day at one of its bases, located in Linhares, a municipality on the coast of Espírito Santo state. Seacrest’s goal is to achieve this figure by the end of the first six months of the year, with a promising productivity outlook in the fields of Linhares and São Mateus, also situated in ES, which not only exhibit good productivity but also low operational costs.

Seacrest Invests Millions in Its Goal of Renewing Mature Oil and Gas Fields

The institution, established with the aim of acquiring and acting in the redevelopment of mature oil and gas fields auctioned by Petrobras, has offered a generous amount of 60 million dollars on the Norwegian stock exchange, one of the countries where it maintains an office, to fund the operation. 

In the Cricaré Pole, based in São Mateus, Espírito Santo, the company managed to increase its production by more than three times shortly after taking it over in 2002.

Thus, maintaining its growing standard.

With Record Numbers, the Oil Company Presents Excellent Results from Its Million-Dollar Investments

From the figures presented by Seacrest, it can be noted that at the beginning of the industry’s venture in this pole, the production recorded was 801 barrels daily.

Whereas at the end of the sixth month of the year, the production amount presented was 2,515 barrels per day.

The sums related to gas observed increased from 28 barrels per day to 504 by the end of the first half.

In Linhares, in the Northern Capixaba pole, positive highlights continue to be presented by the oil company, with a 46% increase in gas production and a rising number of barrels of oil, which previously numbered 5,518 and increased to 5,458.

In addition to high production, it is important to highlight that Seacrest’s success also lies in the reduction of production costs.

Despite the positive computation, the producer still plans to drill an additional 10 to 14 new wells in the Inhambu field, also in São Mateus. 

Besides drilling new wells, Seacrest Oil plans to invest a few more million dollars to achieve higher profits and its desired production milestones of 21,000 to 30,000 barrels of oil daily. By the year 2025, the goal is for its investments made so far to bring the desired return for the company.