OGX Petróleo e Gás is focused on oil and natural gas exploration and production and is conducting the largest private sector exploratory campaign in Brazil. OGX has a diversified, high-potential portfolio, comprised of 29 exploratory blocks ...
OGX Petróleo e Gás is focused on oil and natural gas exploration and production and is conducting the largest private sector exploratory campaign in Brazil. OGX has a diversified, high-potential portfolio, comprised of 29 exploratory blocks in the Campos, Santos, Espírito Santo, Pará-Maranhão and Parnaíba basins, in Brazil, and 5 exploratory blocks in Colombia, in Middle Magdalena Valley, in Lower Magdalena Valley and in Cesar-Ranchería basins. The total extension area is of approximately 7,000 km² in sea and approximately 34,000 km² in land, with 21,500 km² in Brazil and 12,500 km² in Colombia.
OGX relies on an experienced management team and holds a solid cash position, with approximately US$2.5 billion to fund its E&P investments and new opportunities.
In June 2008, the company went public raising R$6.7 billion, the largest amount ever raised in a Brazilian primary IPO at the moment.
Since 2007, when the company was formed, it has invested more than R$ 5.3 billion in E&P in Brazil. This amount includes the R$ 1.5 billion paid as subscription bonus for the ANP (National Agency for Oil, Natural Gas and Bio-fuels) auction held in 2007 and some R$ 3.8 billion for the exploratory campaign begun in August 2009.
OGX is a member of the EBX Group, an industrial group founded and under the leadership of Brazilian entrepreneur Eike F. Batista, who has a proven track record in developing new ventures in the natural resources and infrastructure sectors.