Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR)’s Exploration and Production-Efforts Concentrates On 3 Basins


Dallas, Texas 11/20/2013 (Financialstrend) – In Tuesday’s trading session, Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) dropped by 1.56%. The shares opened at $17.76, which touched the intraday high of $17.86 and headed to a close of $00.00. Around 15.12M shares exchanged hands over the trading day and an average volume of 16.73 million shares were traded over a 30 day period. The 52-week low of Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) shares is $12.03 and its 52-week high is $20.63. The company has a market capitalization of $114.9 billion.

About the company

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) is a Brazil-based integrated oil & gas company. It operates in 5 different business segments: first- exploration and production; second-refining, commercialization and transport of oil and natural gas; third-petrochemicals; fourth-distribution of derivatives, fifth-electrical energy, biofuels & other renewable energy-sources. Directly / via its subsidiaries, Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) researches and is involved in extraction, refining & processing as well as commercialization & transportation of oil from its wells & shales &other rocks, its-derivatives, natural-gas & other liquid hydrocarbons.

Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) is also involved in activities that are related to energy, promoting-research, production, development, transport, distribution & commercialization of all kinds of energy. As of 31st December 2010, the company had 132 production-platforms, 291 vessels, 16-refineries, 6 biofuel plants, 29,398 kms of pipelines, one pilot-wind farm, 16 thermoelectric-plants, 8,477 service-stations & 2 fertilizer plants and presence in 30 different countries.

Exploration and Production

The domestic oil & gas exploration & production-efforts are concentrated on the 3 basins that are offshore in Southeastern-Brazil: Espirito Santo, Campos, and Santos. The Campos Basin covers around 115,000 sqkms (28.4 million acres) is the oil & gas basin located in Brazil. At 31st December 2009, Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) was producing from 41 different fields at an average -rate of 1,693.6 mbbl/d of-oil & held proved crude-oil reserves that represented 90 percent of the total proved crude oil reserves located in Brazil.