Greenwich, Conn.-based energy private-equity firm First Reserve Corp. reports First Reserve Fund XII has provided an equity commitment of up to $500 million to Rio de Janeiro, Brazil-based Barra Energia Petroleo e Gas, a recently formed independent E&P firm led by Brazilian energy industry veterans Joao Carlos de Luca as executive chairman and Renato Tadeu Bertani as chief executive.
Barra Energia will pursue the acquisition, exploration and development of oil and gas assets in selected onshore and offshore basins in Brazil.
De Luca is president of IBP (Brazilian Petroleum and Gas Institute), where he has been closely involved with the advancement and development of a sustainable energy industry in Brazil. De Luca’s expansive career in the oil and gas sector includes his position as president of Repsol YPF Brazil, an organization he helped found in 1998. De Luca served as director of E&P and a member of the board at Petrobras.
Bertani is president and CEO of Thompson & Knight Global Energy Services, where he directs consulting in Latin America, West Africa, the U.K. and the Gulf of Mexico. Prior to Thompson & Knight, Bertani spent more than 30 years in technical and high-level managerial positions with Petrobras, most recently as president of Petrobras Americas. He is vice president of the World Petroleum Council.
Recommended Reading
Kimmeridge’s Mark Viviano on Reshaping the Energy Sector, SilverBow-Crescent Deal
2024-05-16 - Kimmeridge Energy Engagement Partners’ Mark Viviano says the company is evaluating the Crescent Energy and SilverBow Acquisition and how Kimmeridge played a key role in transforming the shale sector in this Hart Energy Exclusive interview.
Oil, Gas Groups Sue BLM to Block Increased Federal Drilling Fees
2024-05-16 - Under new U.S. Bureau of Land Management rules, royalty rates will jump to 16.67% from 12.5% and minimum lease bonds will increase to $150,000 from $10,000, which industry groups say will deter future oil and gas development.
SilverBow Resets Shareholder Meeting After $2.1B Crescent Deal
2024-05-16 - SilverBow Resources said it will adjourn its May 21 shareholders’ meeting until May 29 following Crescent Energy’s agreement to buy the Eagle Ford operator.
SUPER DUG Shale 4.0 Era about Building Scale- Rystad
2024-05-16 - The Shale 3.0 era or capital discipline era will be followed by the Shale 4.0 era, which will see companies focused on building scale, according to Rystad Energy Senior Shale Analyst Matthew Bernstein.
BPX Looks to Ramp US Production Over 60% by 2030
2024-05-16 - BPX Energy is looking to boost its U.S. production over 60% by 2030 as it considers bringing online a fourth processing facility in the Permian by mid-year 2025, Clark Edwards, the company’s vice president of development, said during SUPER DUG in Fort Worth.