Brazil’s Enauta Buys Stake in Shell-Operated Parque das Conchas

(Bloomberg) -- Brazilian oil junior Enauta Participacoes SA has acquired a minority stake in the oil fields that comprise the Parque das Conchas for $150 million, according to a company filing.

Parque das Conchas is operated by Shell Plc, with a 50% equity stake. Enauta bought the 23% stake held by QatarEnergy Brasil in the oil fields of Abalone, Ostra and Argonauta, which make up the Parque das Conchas in the Campos Basin. 

The transaction, which is subject to closing conditions, is “aligned with Enauta’s portfolio strategy, risk-adjusted return on capital, growth optionalities and capital allocation efficiencies,” Enauta said. 

©2023 Bloomberg L.P.