Brava Energia Advances Divestment Strategy and Attracts New Interest in Onshore Assets

Brava Energia (BRAV3), a leading Brazilian oil and gas company, has received new proposals for its onshore and shallow water assets. This marks significant progress in its divestment strategy.

The company’s shares responded positively, rising 1.55% to R$24.87 following the announcement. The company, formed through the merger of Enauta and 3R Petroleum, has attracted at least five interested parties for its portfolio assets.

Recent developments include a December 2024 exclusivity agreement with Azevedo e Travassos and Petro-Victory Energy Corp for 11 oil and gas concessions in Rio Grande do Norte, plus a $65 million agreement with PetroReconcavo for gas infrastructure.

Production data shows strong operational performance, with December 2024 reaching 38,591 barrels of oil equivalent per day (boe/d). The FPSO Atlanta platform achieved 26,800 boe/d, while the Papa-Terra field resumed operations with 14,300 boe/d production.

Brava Energia Advances Divestment Strategy and Attracts New Interest in Onshore Assets. (Photo Internet reproduction)

BTG Pactual analysts value the onshore assets at up to $1.9 billion. The potential equity value could reach $700 million if buyers assume the related debt. The company’s market capitalization currently stands at R$11.64 billion ($2.3 billion).

As Brava Energia evaluates these proposals within its corporate governance framework, market observers anticipate a significant impact. This impact is expected to affect the company’s financial position and market valuation in 2025.