A Prio (Prio3) reported on Thursday night (1), which signed contracts with Equinor Brasil Energia (E1QN34) for the acquisition of total participation of 60% and operation of the pilgrim and Pitangola fields for US $ 3.350 billion.
The business, which will add 202 million barrels of reservations and resources 1p+1C to the company, will be divided into two parts: acquisition of 40% participation, together with the field operation, and acquisition of 20% participation.
“Thus, the pilgrim field will be arrested and operated entirely by the prio,” says the company in a relevant fact sent to the Securities Commission (CVM).
Acquisitions are subject to the usual preceding conditions for this type of operation, such as approval by the National Petroleum, Natural Gas and Biofuels Agency (ANP) and (Cade) approval.
The 40% operation will be divided between US $ 2.233 billion to 40% and operation, and US $ 166 million contingent to completion of the 20% operation. The 20% operation will have a value of US $ 951 million. Payments due to the completion of the acquisitions will be subject to adjustments until the transaction is closed.
The company expects the operations to be completed between the end of 2025 and mid -2026. “All amounts will be paid using the resources already available in Current Account of Prio, added to the company’s cash generation to the operation of the operation and a temporary increase in leverage level to approximately 20 times the net debt/Ebitda that will remain inside healthy and conservative ranges,” says the company.
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A prio was advised by Banco Jefferies, and the law firms Tauil & Checker Lawyers associated with Mayer Brown in Brazil and Mayer Brown International LLP in the United Kingdom.
