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Stock Market & Financial Investment News

News Breaks
June 26, 2012
10:12 EDTPZEPetrobras Argentina discloses oil and gas discovery in Santa Cruz
Petrobras Argentina disclosed in a regulatory filing the discovery of a new oil and gas field in Estancia Agua Fresca concession area, located in the province of Santa Cruz. Preliminary test results indicate the presence of gas and 52° API oil, with estimated reserves of approximately 6M barrels of oil equivalent. La Cancha is the second discovery within the concession area which also includes the Agua Fresca field, with a current daily production of 473 cubic meters of oil and 90 thousand cubic meters of gas. Petrobras Argentina is the operator of the consortium for the exploitation of the newly discovered field, which consortium is also composed of Compañía General de Combustibles S.A., both companies holding a 50% interest each.
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September 12, 2014
15:48 EDTPZESchlumberger favored to win Petrobras service contract, Bloomberg reports
Schlumberger (SLB) is favored to win half of the well services work being offered by Petrobras (PZE) which is valued at more than $2B, Bloomberg says, citing two people with knowledge of the tender. Schlumberger had submitted the most competitive bid for 50% of the well services work, Halliburton (HAL) had placed the lowest-cost bid for 30% of the work, and Baker Hughes (BHI) is set to win the remaining 20% of the work, the people added. Reference Link

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