Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Brazil
  4. Bolsa de Valores de Sao Paulo
  5. 3R Petroleum Óleo e Gás S.A.
  6. News
  7. Summary
    RRRP3   BRRRRPACNOR5

3R PETROLEUM ÓLEO E GÁS S.A.

(RRRP3)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Brazil's 3R Petroleum in talks to buy Petrobras' Polo Potiguar for over $1 bln

08/27/2021 | 01:19pm EDT

RIO DE JANEIRO, Aug 27 (Reuters) - Brazil's Petrobras is in talks with 3R Petroleum Oleo e Gas SA to sell a refinery and dozens of oil fields for more than $1 billion, the company said on Friday, a deal that would prove transformational for 3R if completed.

In a securities filing, Petroleo Brasileiro SA, as the state-run company is formally known, said 3R presented the best offer in public bidding for the assets in the northeastern state of Rio Grande do Norte, known collectively as Polo Potiguar.

For 3R, the completion of the acquisition would more than double the company's oil production and launch it into the top echelon of Brazil's independent producers, competing with Enauta Participacoes and PetroRio.

Bilateral negotiations during Petrobras divestments can take anything from a few weeks to a few months. After the terms of the deal have been finalized, Petrobras sometimes opens one final re-bidding round, during which competitors can submit offers of any value under the same terms as those agreed upon in the bilateral negotiations.

Reuters reported in June that 3R and private equity firm Seacrest Capital had submitted competing offers for Polo Potiguar.

The value offered by 3R was between $1.1 and $1.3 billion, one person with knowledge of the matter said on Friday.

Petrobras announced in August it was putting Polo Potiguar up for sale. The asset includes 23,000 barrels per day (bpd) of onshore and shallow-water oil production, according to 2020 bidding documents. It also includes the Potiguar Clara Camarao Refinery, which has installed capacity of 39,600 bpd.

A successful sale would be significant for Petrobras' drive to divest non-core assets in a bid to reduce debt and sharpen its focus on deepwater oil production.

Common shares in 3R were up 4.5% in afternoon trade, while Brazil-listed preferred shares in Petrobras were up 2.6%. Brazil's benchmark Bovespa equities index was up 1.2%. (Reporting by Gram Slatery; Additional reporting by Carolina Mandl in Sao Paulo; Editing by Kirsten Donovan and David Holmes)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
3R PETROLEUM ÓLEO E GÁS S.A. 0.51% 41.33 End-of-day quote.11.10%
ENAUTA PARTICIPAÇÕES S.A. -1.12% 14.97 End-of-day quote.26.33%
PETRO RIO S.A. -1.46% 27.74 End-of-day quote.97.61%
PETRÓLEO BRASILEIRO S.A. - PETROBRAS -0.27% 29.6 End-of-day quote.4.45%
All news about 3R PETROLEUM ÓLEO E GÁS S.A.
10/07Brazil's Petrobras picks PetroRio group as top bidder for Albacora -sources
RE
08/27Brazil's 3R Petroleum in talks to buy Petrobras' Polo Potiguar for over $1 bln
RE
08/053R PETROLEUM ÓLEO E GÁS S A : Earnings Release 2Q21
PU
08/053R PETROLEUM ÓLEO E GÁS S A : Release de Resultados 2T21 - Versão Inglês
PU
07/143R PETROLEUM ÓLEO E GÁS S A : Fato Relevante
PU
06/22Brazil's 3R, Global bid for Petrobras refinery and oilfields -sources
RE
05/133R PETROLEUM ÓLEO E GÁS S A : 1Q21 Results Presentation
PU
05/133R Petroleum Óleo e Gás S.A. Reports Earnings Results for the First Quarter Ended March..
CI
05/043R PETROLEUM ÓLEO E GÁS S.A.(BOVESPA : RRRP3) added to Brazil Small Cap Index
CI
03/213R PETROLEUM ÓLEO E GÁS S.A.(BOVESPA : RRRP3) added to S&P Global BMI Index
CI
More news
Financials
Sales 2021 806 M 148 M 148 M
Net income 2021 126 M 23,1 M 23,1 M
Net Debt 2021 677 M 124 M 124 M
P/E ratio 2021 -
Yield 2021 1,12%
Capitalization 5 470 M 1 005 M 1 002 M
EV / Sales 2021 7,63x
EV / Sales 2022 2,54x
Nbr of Employees -
Free-Float 61,2%
Chart 3R PETROLEUM ÓLEO E GÁS S.A.
Duration : Period :
3R Petroleum Óleo e Gás S.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends 3R PETROLEUM ÓLEO E GÁS S.A.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Last Close Price 41,33 BRL
Average target price 68,80 BRL
Spread / Average Target 66,5%
EPS Revisions
Managers and Directors
Ricardo Rodrigues Savini Chief Executive Officer
Rodrigo Pizarro Lavalle da Silva Chief Financial & Investor Relations Officer
Paulo Thiago Arantes de Mendonça Chairman
Jorge Ruben Lorenzon Technical Director
Pedro Miguel Grijalba Vasquez Operations Director
Sector and Competitors
1st jan.Capi. (M$)
3R PETROLEUM ÓLEO E GÁS S.A.11.10%1 005
SAUDI ARABIAN OIL COMPANY6.57%1 987 638
ROYAL DUTCH SHELL PLC44.21%189 427
PETROCHINA COMPANY LIMITED67.92%160 654
TOTALENERGIES SE25.93%136 163
PUBLIC JOINT STOCK COMPANY GAZPROM72.84%122 578