|
|
Article: Brazil : Brazil s HRT Petroleum Launches Oil And Gas Exploration Company.
- Article from:
- TendersInfo
- Article date:
- November 5, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: manish03
Brazilian oilfield consulting firm HRT Petroleum said Wednesday that it had launched HRT Oil & Gas, an oil and natural gas exploration and production company.
The E&P unit will be controlled by holding company HRT Participacoes, funded with $275 million raised in a private placement in the U.S. The operation was coordinated by Bank of Montreal (BMO, BMO.T).
HRT Oil & Gas will hold operator stakes in 21 blocks in the Solimoes Basin in Brazil's Amazonas state. HRT Oil & Gas signed farm-in deals to buy a 51% stake in the blocks from Petra Energia SA and M&S Brasil, subject to approval from Brazil's National Petroleum Agency, or ...