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TALO - Talos Energy Inc News Story

$13.14 0.4  3.2%

Last Trade - 17/05/21

Mid Cap
Market Cap £759.6m
Enterprise Value £1.50bn
Revenue £472.4m
Position in Universe 2774th / 6846

Brazilian oil independent 3R approves follow-on offering

Wed 31st March, 2021 1:34pm
RIO DE JANEIRO, March 31 (Reuters) - The board of Brazilian
oil and gas company 3R Petroleum has approved a follow-on share
offering of roughly 823 million reais ($143 million), the firm
said in a Wednesday securities filing.
    The new shares will be priced at 36 reais, below the Tuesday
closing price of 39.30 reais, said the company, known formally
as 3R Petroleum Oleo e Gas SA  RRRP3.SA .
    Following the operation, the company's total share value
will rise to 1.808 billion reais, the company said. The new
shares are set to begin trading on Thursday.
    3R is among a crop of small, independent oil companies that
have popped up in Brazil in recent years as state-run giant
Petroleo Brasileiro SA  PETR4.SA  sells off hundreds of
production assets.
    Reuters reported in February that 3R had bid for Petrobras'
large Albacora and Albacora Leste offshore fields, alongside
Brazil's Enauta Participacoes SA  ENAT3.SA , Houston-based Talos
Energy Inc  TALO.N  and private equity firm EIG Global Energy
Partners.  urn:newsml:reuters.com:*:nL1N2KG1NY
    ($1 = 5.77 reais)

 (Reporting by Gram Slattery; Editing by Andrew Heavens)
 ((gram.slattery@thomsonreuters.com; +55-11-95057-1453))
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