Petro-Victory Energy and BlueOak Investments acquire Capixaba Energia in Brazil, boosting production and reserves.

From Yahoo Finance: 2025-04-30 06:01:00

Petro-Victory Energy, in partnership with BlueOak Investments, completes the acquisition of Capixaba Energia, enhancing its position in Brazil’s onshore energy sector. The acquisition adds cash flow, production growth, and strategic infrastructure. BlueOak has funded the initial payments and committed to further expenditures for production enhancement.

The acquisition provides Petro-Victory with immediate production growth, strategic infrastructure, financial backing, and proven reserves with exploration potential. Capixaba Energia currently produces 400 barrels of oil equivalent per day and includes four producing oil fields and two exploration blocks near major assets.

A reserves report by GLJ for Capixaba Energia showed 5.3 million barrels of oil equivalent 3P reserves with a pre-tax net present value of $116.3m. Petro-Victory’s strategic partnership with BlueOak aims to unlock value, optimize profitability, and drive long-term growth. BlueOak CEO Meton Morais expresses confidence in the Brazilian energy market.

In a related move, Petro-Victory signed a sale purchase agreement to acquire 13 oil fields in Brazil’s Potiguar Basin in partnership with Azevedo & Travassos Petroleo. The fields are part of Polo Porto Carão and Polo Barrinha, acquired from subsidiaries of Brava Energia. The acquisition expands Petro-Victory’s presence in Brazil’s oil sector.

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