Brazils PetroReconcavo doubles gas output on Petrobras deal

Brazilian producer PetroReconcavo produced twice as much gas in December as in November, the company reported on January 19, on the back of its purchase of fields in the Miranga and Remanso clusters in the Bahia state.

Gas output averaged 5,873 barrels of oil equivalent/day in December, up 106% month on month. The company's overall hydrocarbon production came to 17,138 boe/d, up 39.6% from the level in November.

PetroReconcavo acquired interests in nine fields in the Miranda cluster from Petrobras in December for $220mn, and went on to buy stakes in 12 more fields from the national oil company for $7.3mn later that month.