Enauta (ENAT3) proposes merger with 3R Petroleum (RRRP3)

Enauta (ENAT3) proposes merger with 3R Petroleum (RRRP3)
Enauta (ENAT3) proposes merger with 3R Petroleum (RRRP3)
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The oil company Enauta (ENAT3) proposed a business combination with 3R (RRRP3), according to a relevant fact published last Monday (1st) evening.

In a letter attached to the statement, Enauta suggests keeping 47% of the combined company and 3R shareholders with 53%.

According to Enauta, the union would bring potential production of more than 100,000 barrels of oil equivalent “with the opportunity for compound growth over the next five years, and operated reserves of more than 770 million barrels”.

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In view of the proposal, 3R’s Board of Directors decided that internal efforts for a possible business combination between the company and PetroReconcavo (RECV3) be momentarily suspended, as well as that the Board direct efforts to evaluate the business combination with Enauta in the period of up to 30 calendar days.

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Oil merger: ENAT3 and RRRP3

In January, in a letter, the Swedish Maha Energy, which now holds 5% of 3R Petroleum, suggested to the Board of Directors of the Brazilian oil company the separation of onshore operations (onshore fields) for incorporation by PetroRecôncavo.

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At the time, both assets – RECV3 and RRRP3 – soared. 3R Petroleum rose 7.62%, while PetroReconcavo shares jumped 11.7%, but, at the best moment of the session, the shares, respectively, rose 16.85% and 17.68%.

The article is in Portuguese

Tags: Enauta ENAT3 proposes merger Petroleum RRRP3

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