Petróleo Brasileiro S.A. – Petrobras (PBR) stands at $9.75 in the premarket. However, the last trading session closed at $9.75 with a decrease of 7.58%.
PBR Announces Settlement of Cash Tender Offers
PBR reported the final findings and settlement of Petrobras Global Finance on 11 June 2021. The Offers were made in accordance with the terms outlined in the offer. However, the notice of assured delivery accompanied it together. PGF paid about US$2.45 billion in total to holders whose Notes were accepted for acquisition.
PBR Announces Offering of U.S. Dollar-Denominated Global Notes
PBR announces Offering of U.S. Dollar-Denominated Global Notes on 2nd June 2021. The New Notes will constitute PGF’s unsecured liabilities. The net proceeds from the sale of the New Notes will be used to acquire Tender Notes. These are the ones that PGF accepts for purchase in the Tender Offers, with any leftover net proceeds.
According to PBR, they are not conditional on the tender of a certain quantity. A Tender Offer’s completion is not contingent on the completion of the other Tender Offers. Furthermore, each Tender Offer is distinct from the others, and PGF has the right to withdraw or amend any Tender Offer without affecting the other Tender Offers.
Monthly Production Increasing from the Caburé Natural Gas Project
PBR announced that Alvopetro Energy’s Caburé natural gas field now produces over 11 MMcf/d. This onshore natural gas field locates in the Brazilian state of Bahia, north of Salvador. In the Gomo Deep Basin, the firm is also constructing a natural gas project in the concession blocks directly north of the Caburé field. Moreover, management has a track record of successfully forming corporate alliances in order to bring its Caburé assets to commercial production.
Last but not the least, the government is now supporting natural gas market investments with the aim of decreasing gas costs. The government can do this by enhancing competition and opening the market to additional operators.
