Brazil’s state-run oil company Petrobras has launched the binding phase of the sale of 41 onshore oil concessions in the coastal states of Bahia and Espirito Santo, according to securities filings on Sept. 6.
Petrobras will sell 100% of 27 E&P concessions in the so-called Polo Cricare area in Espirito Santo, the company said. The fields produced 2,800 barrels per day (bbl/d) of oil and 11,000 cubic meters per day of natural gas on average in 2018.
In Bahia, the oil company will sell its 14 concessions in the Polo Reconcavo area, where it owns a 100% share in all but two of the blocks, Petrobras said. The concessions recorded average production of 2,800 bbl/d of oil and 588,000 cubic meters per day of natural gas in 2018.
Leading independents in the Permian Basin—Diamondback, Pioneer and Concho—are preparing to release quarterly results this week, which are expected to show a cautious approach for the year ahead.
The oil and gas industry must respond to a new era as investors and the public shift focus on what they view as important.
Founder, former chairman and president of Clayton Williams Energy Inc., was the Hart Energy Industry Leadership Award recipient in November 2018.