The oil company Enauta (ENAT3) proposed a business combination with 3R (RRRP3), according to the relevant fact published last (first) Monday evening.
In a letter accompanying the statement, Enota proposes to retain 47% of the combined company and 3R shareholders 53%.
According to Enota, the union will achieve a potential production of more than 100,000 barrels of oil equivalent “with the opportunity for compound growth over the next five years, and operating reserves of more than 770 million barrels.”
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In light of this proposal, the 3R Board of Directors has decided to temporarily suspend internal efforts for a potential business combination between the Company and PetroReconcavo (RECV3), and further direct the Board of Directors to direct efforts to evaluate the business combination with Enauta in a period of up to 30 calendar days.
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Oil combination: ENAT3 and RRRP3
In January, the Swedish company Maha Energy, which now owns 5% of 3R Petroleum, proposed in a letter to the Brazilian oil company's board of directors that the onshore operations (onshore fields) be separated into Petroreconcavo.
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At that time, both assets – RECV3 and RRRP3 – soared. 3R Petroleum shares rose 7.62%, while PetroReconcavo shares jumped 11.7%, but in the best moments of the session, the shares rose respectively by 16.85% and 17.68%.
Charlotte Whitmore is a contributor at Mediarunsearch.co.uk, covering a broad range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and practical information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism that keeps readers connected to the issues shaping the UK and beyond.