Contact
You can contact our investor relations area through our website, in the IR Contact, or through our channels:
E-mail: ri@petroreconcavo.com.br
Phone: +55 (71) 3635-0282
PetroReconcavo has the following social media:
Linkedin: https://www.linkedin.com/company/petroreconcavo/mycompany/
Twitter: https://twitter.com/PetroRec_
PetroReconcavo shares are registered by Banco Itaú S.A., which has as one of its attributions to issue and make available annual reports for the purposes of income tax returns to the Company’s shareholders.
The 2022 Income Statement is available exclusively on Itaú’s Digital Correspondence Portal. To obtain the income statement follow the steps below:
In case of doubts or information, please contact the bank’s service channels:
Governance
The company is listed in the “Novo Mercado” segment that represents the highest corporate governance index.
The amount of actions you find in our reference form available for download in the CVM Filings or on the RI website itself in the ownership structure session via the link below:
Market Cap or market capitalization is an estimate of the market value of a company according to the formula:
total number of shares x stock value.
You can confirm the value of the Company’s MarketCap by consulting the number of shares via the link below:
And the quote is on the Home of the RI website.
You can find this information in our reference form, available for download in the CVM Filings section, or on the IR website itself in the “Corporate Governance” section, Ownership Structure
Operations
The Company has 60 Concessions, 58 of which are operated, one operated by a Partner and one exploratory block.
The Potiguar Asset is composed of 33 Concessions, 32 operated, 1 concession in partnership and 1 exploratory block. They are: Acauã, Asa Branca, Baixa do Algodão, Boa Esperança, Baixa do Juazeiro, Brejinho, Cachoeirinha, Cardeal, Fazenda Curral, Fazenda Junco, Fazenda Malaquias, Jaçanã, Janduí, Juazeiro, Lorena, Leste de Poço Xavier, Livramento, Maçarico, Pardal, Patativa, Pajeú, Paturi, Poço Xavier, Riacho da Forquilha, Rio Mossoró, Sabiá, Sabiá Bico de Osso, Sabiá da Mata, Sibite, Três Marias, Trinca Ferro, Upanema, Varginha and the Pot-T-702 Exploratory Block.
In Bahia Asset there are 26 concessions operated, 12 concessions of Remanso Cluster, 5 concessions of BTREC Cluster and 9 in the Miranga Cluster.
The Concessions of The Remanso Cluster are: Brejinho, Canabrava, Cassarongongo, Fazenda Belém, Gomo, Mata de São João, Norte Fazenda Caruaçu, Remanso, Rio dos Ovos, Rio Subauma, São Pedro, Sesmaria. The concessions of BTREC are: Lagoa do Paulo, Lagoa do Paulo Sul, Lagoa do Paulo Norte, Juriti, Acará-Burizinho.
In Miranga, there are 9 concessions: Apraius, Biriba, Fazenda Onça, Jacuipe, Miranga, Miranga Norte, Rio Pipiri, Riacho de São Pedro and Sussuarana.
PetroReconcavo is an independent oil and gas operator and one of the leaders in this area of operation in Brazil. With a trajectory of more than twenty years, we specialize in the operation, development and revitalization of mature fields in onshore oil and gas basins.
Our business model is based on the purchase of mature onshore field concessions, where we operate efficiently, extending the life cycle of your reserves. We believe that our vertical business model allows us to differentiate, having as pillars: the safety of operations, quality and low operational cost.
Although the company’s focus is the revitalization and operation of mature fields, the company also operates fields that do not fit the classification of mature fields according to Resolution 749/2018 of the ANP (Agência Nacional de Petróleo).
In addition, the company holds the concession of a POT-T-794 exploratory block, located in the Potiguar Basin.
The Company publishes a monthly production bulletin that can be consulted in the “Notice to the Market” session, available at the link below:
Finance
The cost and production data for our operations can be found in our latest Earnings Release, available at the link below:
Currently we do not offer Guidance.
However, the company goes through an annual process of consultantof reserves audited by an independent certifiator. The document can be found at the link below:
The Company’s Bylaws, in article 27, provide that:
“ARTICLE 27 – From the results of the year, accumulated losses and the provision for taxes levied on profit shall be deducted before any participation. Paragraph One – Together with the financial statements for the year, management shall submit to the assessment and approval of the proposed General Meeting on the allocation of net income for the year that remains after the following deductions or accruals, made in addition and in that order:
(a) 5% (five percent) for the formation of the Legal Reserve, which will not exceed 20% (twenty percent) of the share capital. The constitution of the Legal Reserve may be waived in the year in which the balance of the same, plus the amount of capital reserves, exceeds 30% (thirty percent) of the Share Capital;
(b) amount allocated to the formation of Reserves for Contingencies and reversal of those formed in previous years;
(c) Realized Profits and Reversal of Profits previously recorded in this reserve that have been realized in the year;
(d) 25% (twenty-five percent) for payment to shareholders of the mandatory dividend; and
(e) the remaining portion of the adjusted net income, after the payment of the mandatory dividend, shall be allocated to the Reserve for Investment and Expansion, limited to the amount equivalent to 100% (one hundred percent) of the share capital, which is intended to (i) ensure resources for investments in permanent assets, without prejudice to withholding profits under Article 196 of the Brazilian Corporate Law; (ii) strengthening of working capital; and may also be used (iii) in redemption, repayment or acquisition of shares of the Company.”
On April 25, 2019, the subsidiary of Companhia Potiguar E&P, signed a financing agreement for payment of part of the amount resulting from the acquisition of a set of 34 fields of the Polo Riacho da Forquilha. In order to protect future results and manage risks, it used cash flow hedging operations, fixing future prices of brent oil, safeguarding market variations.
The Company should keep a portion of its projected net production (1P) of The Potiguar Asset for the next 36 months based on its Reserve Report, in the following proportions:
Updated information regarding contracted Hedge volumes can be found in our quarterly Earnings Release at the link below:
Reserves Reports
Reserve Certification is a process conducted by independent consultant, in which quantities of oil are estimated to be commercially recoverable from known accumulations by the application of development projects from a certain date under defined conditions.
You can find the volume of certified reservations of the company through the link below:
Contracts & Customers
Oil production is traded with Petróleo Brasileiro – Petrobras in contracts for the volume produced in each cluster with a closing period from August 2023 to December 2025.
For more information about the contracts negotiated with Petrobras, please visit our Reference Form.
PetroReconcavo has purchase and sale agreements for the supply of natural gas with the following companies:
Currently all contracts (PBgás, Potigás and Bahiagás) are signed in the firm mode inflexible.
This represents the obligation to provide at least the quantity established by the contract, without reducing or interrupting over the duration of the contract.