By Brazil Stock Guide – Brava Energia SA (BRAV3) said it has closed the sale of half of its gas midstream infrastructure in Brazil’s Potiguar Basin, Rio Grande do Norte, to PetroReconcavo SA (RECV3). The company confirmed the completion of the deal on Tuesday after regulatory approvals and final price adjustments.
According to Brava, PetroReconcavo paid R$168.8 million ($30 million) at this stage, representing 50% of the total transaction value. This payment adds to the R$127.9 million already disbursed in earlier installments: one at the contract signing on June 5, 2025, and another after clearance by the antitrust authority CADE on July 25, 2025. The remaining 15% will be settled in phases tied to the real estate transfer process.
Brava will remain operator of the assets under a Joint Operating Agreement, with an Operating Committee to set budget and efficiency guidelines. The company said the deal aims to increase operational efficiency, maximize infrastructure use, and reduce costs.
Leave a Reply