Shell (SHEL) Brasil, a subsidiary of Shell plc, has secured additional equity in Brazil’s pre-salt oil projects following an auction led by Pre-Sal Petroleo, the company announced. Together with Petrobras (PBR), Shell Brasil deepened its stake in Atapu and Mero units, acquiring 26.76% of Atapu Open Acreage, or 0.95% of the unit, and 20% of Mero Open Acreage, or 3.5% of the unit. With this acquisition, Shell Brasil increased its participating interest in the units from 16.663% to 16.917% in Atapu and from 19.3% to 20% in Mero. Both projects are located in the offshore Santos Basin.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SHEL:
- Shell, Equinor complete deal to combine UK offshore oil, gas operations
- BP,Shel,CVX: Oil Stocks Look Slicker as Ukrainian Drones Batter Russian Supply Lines
- Oil Glut Jitters Hit Crude — Can Energy ETFs Compete with Gold and Bitcoin?
- UBS downgrades Shell with shares no longer ‘cheap’
- Shell downgraded to Neutral from Buy at UBS