Petrobras announced, on Wednesday morning (17), that it has identified the presence of hydrocarbons in a well being drilled in the Santos Basin, in the country’s Southeast region, with potential for oil or natural gas exploration.
The new reserve is a “remnant of the Pre-Salt” with “excellent quality,” according to the company.
The new reserve is at a 1,900 meters depth and is part of a remnant of the pre-salt area being explored in the Santos Basin by Petrobras
“The well is being drilled, and the oil-bearing interval was verified through electrical profiles and fluid samples, which will later be characterized through laboratory analysis.”
“These data will allow us to assess the potential and direct the next exploratory activities in the area,” the state-owned company said.
With this, the consortium formed by Petrobras and Pré-Sal Petróleo S.A. will continue drilling the well to a depth of 1,900 meters to characterize the conditions of the reservoirs.
The discovery of the new hydrocarbon reserve comes at a time when the company is also studying oil exploration in the so-called “Equatorial Margin,” off the coast of the country’s northern region, near the mouth of the Amazon River.
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Petroleo Brasileiro Petrobras
NYSE: PBRPETR4EnergyOil & Gas Integrated43,199 employees
$139.52B
Market cap
Analyst target $22.95
Wall Street view
4.4Buy/ 5
11 Buy3 Hold0 Sell
Avg. price target $22.95 · +28% vs 200-day
Valuation & profitability
Market cap$139.52B
Revenue (TTM)$548.49B
P / E ratio5.3
Profit margin24.3%
Return on equity30.3%
Price & risk
52-wk low $10.6552-wk high $21.99
Beta (volatility)-0.21
200-day average$17.87
Revenue trend · 6y
20202025
Latest $88.10B
Ownership
Institutions22.3%
Shares outstanding3.72B
Top holderGQG Partners LLC
Institutional holders5+ funds
Dividend
Yield17.5%
Payout ratio28.3%
Fwd. annual$1.68
What Petroleo Brasileiro Petrobras does. Petróleo Brasileiro S.A. – Petrobras explores, produces, and sells oil and gas in Brazil, China, the United States, the Americas, Asia, Europe, Singapore, and internationally. It operates through three segments: Exploration and Production; Refining, Transportation & Marketing; and Gas & Low Carbon Energies. The Exploration and Production segment explores, develops, and produces…
