Petro-Victory boosts growth in Brazil through partnerships and acquisitions

Petro-Victory Energy secures key assets in Brazil through strategic alliances and acquisitions, consolidating its onshore market position and initiating a new phase of development.

Partagez:

Petro-Victory Energy Corp., a company specialised in onshore oil and gas exploration and production, has announced several structuring developments in Brazil. The firm recently concluded major financial and operational partnerships, as well as targeted acquisitions, with the objective of accelerating its expansion across the country’s terrestrial basins. These operations aim to ensure free cash flow generation and expand existing production capacity.

Key financial and operational partnerships

Noteworthy among these initiatives is a strategic partnership with BlueOak Investments, identified as the main capital provider in the acquisition of Capixaba Energia. This acquisition marks the launch of a regional growth hub within Petro-Victory’s portfolio. A development agreement was also signed with Eneva, one of Brazil’s largest energy operators, including a fully funded drilling and seismic commitment. Another partnership, signed with ATE, covers the financing of two development wells at the Andorinha Field, with an option to buy into the related assets under pre-agreed terms.

Asset portfolio expansion

Petro-Victory finalised the acquisition of 13 producing oil fields from Brava Energia S.A., adjacent to its existing concessions. These assets enhance the company’s exploitable reserves, particularly in the Potiguar and Espirito Santo basins, both of which are strategic zones for the company. The resource potential in the source rock of the Potiguar Basin has been estimated at 36.2 billion barrels of undiscovered oil originally in place, based on company data.

Operational projections and development plan

The 2025 development plan includes a fully funded workover and drilling campaign in the Espirito Santo Basin, along with partner-supported drilling of two wells in the Potiguar Basin. A similar operation is scheduled for the São João gas field in 2026, comprising one well and a 3D seismic campaign. According to an independent reserves and resources report, the company holds substantial proven reserves, strengthening its market credibility.

  • Populaires ​
Global microgrid market to reach 191 billion dollars by 2033
Google signs world’s first fusion energy purchase agreement
Wood Mackenzie forecasts $1.35 trillion for CCUS and carbon credits markets
Ignis Energy secures $13.6mn to accelerate global geothermal projects
NamPower launches $90.3mn solar power plant to secure Namibian energy
Zambia restructures petroleum logistics to stabilise energy supply
Faced with recurrent shortages, Zambia is reorganising its fuel supply chain, notably issuing licences for operating new tanker trucks and service stations to enhance national energy security and reduce external dependence.
Grangemouth Closure: UK Oil Stocks at Highest Level in Three Years
The closure of the Grangemouth refinery has triggered a record increase in UK oil inventories, highlighting growing dependence on imports and an expanding deficit in domestic refining capacity.
Mexco Energy reports 27% increase in annual profit
Mexco Energy Corporation reports an annual net profit of $1.71mn, up 27%, driven by increased hydrocarbon production despite persistently weak natural gas prices in the Permian Basin.
S&P downgrades Ecopetrol to BB, Moody’s maintains Ba1 rating
S&P Global Ratings lowers Ecopetrol's global rating to BB following Colombia's sovereign downgrade, while Moody’s Investors Service confirms the group's Ba1 rating with a stable outlook.
Shell officially rules out any takeover offer for rival BP
Shell group publicly clarifies it is neither considering discussions nor approaches for a potential takeover of its British rival BP, putting an end to recent media speculation about a possible merger between the two oil giants.
Chinese independent refiners poised to increase fuel oil imports
The anticipated increase in the tax deduction rate may encourage independent refineries in Shandong to restart fuel oil imports, compensating for limited crude oil import quotas.
Petro-Victory launches fully-funded drilling campaign in Brazil
Petro-Victory Energy Corp. starts drilling of the AND-5 well in the Potiguar Basin, Brazil, as the first phase of an operation financed through its strategic partnership with Azevedo & Travassos Energia.
Port of Corpus Christi expands capacity for large oil tankers
The Texan Port of Corpus Christi has completed major widening and deepening work designed to accommodate more supertankers, thus strengthening its strategic position in the US market for crude oil and liquefied natural gas exports.
BP Prudhoe Bay Royalty Trust puts Prudhoe Bay royalty up for sale
BP Prudhoe Bay Royalty Trust is offering its interest in Prudhoe Bay, North America’s largest oil field, as part of its planned dissolution, assisted by RedOaks Energy Advisors for this strategic asset transaction.
CNOOC partners with KazMunayGas to explore the Zhylyoi subsoil area
CNOOC Limited’s Hong Kong subsidiary and KazMunayGas have concluded a nine-year exploration and production contract covering nine hundred and fifty-eight square kilometres in Kazakhstan, sharing investment and operations equally.
Trump authorizes China to buy Iranian oil, shaking global oil markets
Donald Trump announced that the United States will no longer oppose Chinese purchases of Iranian oil, immediately triggering a drop in global crude oil prices and profoundly reshaping international energy trade partnerships.
Canadian oil sands production poised to reach record high
Research firm S&P Global Commodity Insights lifts its outlook for the fourth straight year, betting on three point five mn barrels per day from 2025 despite lower prices.
Enbridge Considers Adding Capacity to Export More Oil to Gulf Coast
Enbridge plans to expand its infrastructure to increase oil transportation from the American Midwest to the Gulf Coast, anticipating rising exports and addressing current market logistical constraints.
US oil stocks fall by 3.1 mn barrels, surprising markets
US commercial crude inventories significantly decline by 3.1 million barrels, widely surpassing initial forecasts and immediately pushing international oil prices higher.
UK reserves underestimated, GBP 165 billion opportunity according to Offshore Energies UK
The UK could have hydrocarbon reserves twice as large as current official estimates, according to Offshore Energies UK, highlighting the impact of fiscal policies on forecasts and the economic future of the North Sea.
Eni, BP and TotalEnergies partially evacuate Iraq; Lukoil maintains operations
Following US strikes in Iran, international energy companies partially evacuate their teams from Iraq as a precaution, while Lukoil maintains its entire personnel on southern oilfields.
Chinese Refineries Cautious Amid Iran-Israel Tensions Threatening Oil Supply
Chinese independent refineries remain cautious amid rising Iranian crude prices driven by escalating Iran-Israel tensions, potentially threatening access to the strategic Strait of Hormuz.
Gazprom offers Pakistani company Nigerian assets to boost Asian expansion
Gazprom, affected by a historic $6.9bn loss in 2023, is offering Pakistani state-owned firm OGDCL its petroleum assets in Nigeria to strengthen its presence in Asia’s energy market, according to Pakistani sources.
Trump Warns of Oil Price Surge Following Strikes Against Iran
Donald Trump urges control of oil prices following U.S. military action against Iranian nuclear facilities, amid escalating tensions around the strategic Strait of Hormuz, threatening to significantly impact global markets.
PermRock Royalty Trust distributes $539,693 following decline in oil sales
PermRock Royalty Trust announces a monthly distribution of $539,693 to unit holders, impacted by reduced oil volumes and prices in April, partly offset by increased natural gas sales.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS