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    BWE   BMG0702P1086

BW ENERGY LIMITED

(BWE)
  Report
Real-time Quote. Real-time Oslo Bors - 09/22 10:25:21 am
23.95 NOK   +1.91%
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BW Energy : Norway's BW Energy, DBO bid for Petrobras' Golfinho fields, say sources

06/30/2021 | 01:51pm EDT

RIO DE JANEIRO, June 30 (Reuters) - Norway's BW Energy Ltd and Brazil's DBO Energy have submitted binding offers for Petrobras' Golfinho offshore oilfields, two sources with knowledge of the matter told Reuters.

Petroleo Brasileiro SA, as Brazil's state-run oil company is formally known, has been selling off dozens of assets in recent years - from pipelines to refineries - in a bid to reduce debt and sharpen its focus on deepwater oil production.

Among the assets being divested are mature oilfields, including Golfinho. Located off the coast of Brazil's southeastern Espirito Santo state, Golfinho was producing roughly 14,900 barrels of oil per day and 750,000 cubic meters of gas per day as of 2020, according to bidding documents released by Petrobras.

Petrobras declined to comment. Neither BW nor DBO responded to requests for comment.

Petrobras had previously entered into bilateral negotiations to sell the asset to DBO, which is composed of Brazilian and Norwegian executives, Reuters reported in January. The parties were discussing valuations in the low hundreds of millions of dollars, Reuters reported at the time.

However, those talks failed to result in a final accord and Petrobras later re-opened bidding, after disclosing additional technical information about Golfinho.

While BW had previously taken a look at the asset, its interest in Golfinho has increased significantly following the additional disclosures by Petrobras, according to one of the sources, who spoke to Reuters in recent days.

BW and DBO submitted their bids in mid-June, though they have not been previously reported. Petrobras is expected to begin bilateral negotiations with the top bidder in the coming weeks or days, added the sources, who requested anonymity to discuss confidential matters. (Reporting by Gram Slattery Editing by Paul Simao)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BW ENERGY LIMITED 1.91% 23.95 Real-time Quote.-14.86%
PETRÓLEO BRASILEIRO S.A. - PETROBRAS 2.54% 25.85 End-of-day quote.-8.79%
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Financials (USD)
Sales 2021 271 M - -
Net income 2021 41,4 M - -
Net cash 2021 185 M - -
P/E ratio 2021 16,2x
Yield 2021 -
Capitalization 714 M 717 M -
EV / Sales 2021 1,95x
EV / Sales 2022 1,78x
Nbr of Employees 100
Free-Float 24,3%
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Mean consensus HOLD
Number of Analysts 3
Last Close Price 2,77 $
Average target price 3,53 $
Spread / Average Target 27,5%
EPS Revisions
Managers and Directors
Carl Krogh Arnet Chief Executive Officer
Knut Ruhaven SŠthre Chief Financial Officer
Andreas Sohmen-Pao Chairman
Lin Garner Espey Chief Operating Officer
William Russell Scheirman Independent Director
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