Parnaiba deal: OGPar sells off stake
Parnaiba finds win approval
11 July 2014 12:00 GMT
OGPar to tie in pair of wells
05 May 2014 01:53 GMT
OGPar posts huge net loss in fourth quarter
11 April 2014 12:00 GMT
OGPar chalks up huge loss
03 April 2014 11:44 GMT
Parnaiba plan gets the nod
06 June 2014 12:00 GMT
By Fabio Palmigiani in Rio de Janeiro
08 August 2014 16:02 GMT
Cambuhy paid the minimum price of 200 million reais ($87.3 million) for the shares held by OGPar, bringing its controlling stake in PGN to 72.73%.
PGN was created by OGPar as a separate entity to operate its onshore assets in the Parnaiba basin a few days before the company filed for bankruptcy protection in October 2013.
The divestment at PGN was contemplated in OGPar’s recovery plan that was approved by a Rio de Janeiro state court in June.
Other shareholders in PGN include Eneva with 18.18% and German utility giant E.ON with 9.09%.
The Gaviao Real field in the Parnaiba basin, operated by PGN, produced 5.4 million cubic metres per day of natural gas in June.
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