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Petrobras (PBR) Sells Stake in Alagoas Fields for $300M
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Brazil’s government-controlled oil major, Petrobras (PBR - Free Report) , made public that it has concluded the sale of its interest in seven onshore and shallow water concessions named Alagoas Cluster, which is situated in the state of Alagoas, Brazil, to Origem Energia.
This deal, which was first announced last July, is in accordance with Petrobras’ portfolio management strategy and its plan to improve capital allocation while maximizing value. The total consideration is worth $300 million, of which $60 million was paid to PBR at the time of signing the agreement and the outstanding amount of $240 million was paid at the conclusion of the contract.
The Alagoas field consists of six onshore (Anambé, Arapaçu, Cidade de São Miguel dos Campos, Furado, Pilar and São Miguel dos Campos) concessions and one offshore (Paru) concession located in shallow waters with a depth of 24 meters. The average daily output of the cluster in 2021 was 1,620 barrels of oil, 550,000 cubic meters of natural gas and 62,000 barrels of condensate. Apart from the fields and their production facilities, the deal also includes the Natural Gas Processing Unit of Alagoas, which processes about 2 million m³/day and handles all the clusters’ gas.
Headquartered in Rio de Janeiro, Petroleo Brasileiro S.A. or Petrobras S.A. is the largest integrated energy firm in Brazil and one of the largest in Latin America. The company’s activities include exploration, exploitation and production of oil from reservoir wells, shale and other rocks as well as refining, processing, trading and transportation.
The Zacks Consensus Estimate for Equinor’s 2022 earnings is projected at $3.87 per share, up about 18% from the projected year-ago earnings of $3.28.
The Zacks Consensus Estimate for Equinor’s 2022 earnings has been revised upward three times over the past 60 days from $3.47 to $ 3.87 per share. EQNR stock has increased around 61.3% in a year.
The Zacks Consensus Estimate for Eni’s 2022 earnings is projected at $4.12 per share, which is an increase of about 39.3% from the projected year-ago earnings of $2.96.
Eni stock has gone up 41.2% in a year. The Zacks Consensus Estimate for E’s 2022 earnings has been revised upward two times over the past 60 days.
Murphy USA is valued at around $4.6 billion. The Zacks Consensus Estimate for Murphy USA’s 2022 earnings has been revised 10.9% upward over the past 60 days from $10.20 to $11.31 per share.
Murphy USA beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being 24.6%. MUSA’s stock price has gone up 41.4% in a year.
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Petrobras (PBR) Sells Stake in Alagoas Fields for $300M
Brazil’s government-controlled oil major, Petrobras (PBR - Free Report) , made public that it has concluded the sale of its interest in seven onshore and shallow water concessions named Alagoas Cluster, which is situated in the state of Alagoas, Brazil, to Origem Energia.
This deal, which was first announced last July, is in accordance with Petrobras’ portfolio management strategy and its plan to improve capital allocation while maximizing value. The total consideration is worth $300 million, of which $60 million was paid to PBR at the time of signing the agreement and the outstanding amount of $240 million was paid at the conclusion of the contract.
The Alagoas field consists of six onshore (Anambé, Arapaçu, Cidade de São Miguel dos Campos, Furado, Pilar and São Miguel dos Campos) concessions and one offshore (Paru) concession located in shallow waters with a depth of 24 meters. The average daily output of the cluster in 2021 was 1,620 barrels of oil, 550,000 cubic meters of natural gas and 62,000 barrels of condensate. Apart from the fields and their production facilities, the deal also includes the Natural Gas Processing Unit of Alagoas, which processes about 2 million m³/day and handles all the clusters’ gas.
Headquartered in Rio de Janeiro, Petroleo Brasileiro S.A. or Petrobras S.A. is the largest integrated energy firm in Brazil and one of the largest in Latin America. The company’s activities include exploration, exploitation and production of oil from reservoir wells, shale and other rocks as well as refining, processing, trading and transportation.
Petrobras currently has a Zacks Rank #2 (Buy). Other players from the energy space that warrant a look include Equinor (EQNR - Free Report) , Eni (E - Free Report) and Murphy USA (MUSA - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Equinor’s 2022 earnings is projected at $3.87 per share, up about 18% from the projected year-ago earnings of $3.28.
The Zacks Consensus Estimate for Equinor’s 2022 earnings has been revised upward three times over the past 60 days from $3.47 to $ 3.87 per share. EQNR stock has increased around 61.3% in a year.
The Zacks Consensus Estimate for Eni’s 2022 earnings is projected at $4.12 per share, which is an increase of about 39.3% from the projected year-ago earnings of $2.96.
Eni stock has gone up 41.2% in a year. The Zacks Consensus Estimate for E’s 2022 earnings has been revised upward two times over the past 60 days.
Murphy USA is valued at around $4.6 billion. The Zacks Consensus Estimate for Murphy USA’s 2022 earnings has been revised 10.9% upward over the past 60 days from $10.20 to $11.31 per share.
Murphy USA beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, the average being 24.6%. MUSA’s stock price has gone up 41.4% in a year.