Dommo Energia

Dommo Energia is a Brazilian publicly listed oil and gas company belonging to the EBX Group. Until 2017 it was known as OGX Petróleo e Gás Participações S.A. (OGX). Prior to a 2013 bankruptcy filing, OGX was Brazil's second largest oil company by market value after Petrobras.[1]

Dommo Energia
TypePublic
IndustryOil and gas
Founded2007 (2007) as OGX
Headquarters
Rio de Janeiro
,
Brazil
Key people
Luiz Eduardo Carneiro (CEO)
Eike Batista, (former EBX Chairman)
ProductsCrude oil
Natural gas
RevenueIncrease US$ 368.1 million (2013)
Decrease - US$ 7.3  million (2013)
ParentEBX
Websitedommoenergia.com.br

History

OGX was founded in 2007. In June 2008 it held initial public offering and the company was listed at BM&F Bovespa.[2]

In September 2009, the company started its exploration activities.[3] At the same year OGX made its first oil discovery at the Waimea offshore field and on 31 January 2012 it started oil production.[4] It made several other oil discoveries.[5]

In 2010, it discovered oil at the Pero and Inga fields in Block BM-C-40.[6]

In 2013 OGX was forced to file for bankruptcy protection in the Court of Justice of Rio de Janeiro after defaulting on a $45m bond payment.[7] [8]

OGX was renamed Dommo Energia in 2017.[9]

Operations

OGX is engaged in onshore and offshore exploration and production activities. It owns exploratory blocks in the Campos, Santos, Espírito Santo, Pará-Maranhão and Parnaíba basins in Brazil and the Cesar-Ranchería, Lower Magdalena Valley and Middle Magdalena Valley basins in Colombia.

Its Waimea field in the Campos Basin is producing about 12,500 barrels per day (1,990 m3/d) with expected output rise to 40,000–50,000 barrels per day (6,400–7,900 m3/d) by the end of 2012.[10] Production at the Gaviao Real field is expected to start in 2012 and at the Waikiki field in 2013.[6][11]

See also

References
  1. Blount, Jeb (2012-03-16). "OGX to buy part of Maersk Brazil oil stakes". Reuters. Retrieved 2012-04-06.
  2. Benson, Todd (2008-06-13). "Shares of Brazil oil start-up OGX soar after IPO". Reuters. Retrieved 2012-04-06.
  3. Palmigiani, Fabio (2011-12-02). "Drilling to resume on blocks once seismic results are in". Upstream Online. NHST Media Group. (subscription required). Retrieved 2012-04-06.
  4. "OGX revving up production". Upstream Online. NHST Media Group. 2012-03-23. Retrieved 2012-04-06.
  5. Ellsworth, Brian; Barreto, Elzio (2009-12-18). "Brazil's OGX says finds oil in offshore well". Reuters. Retrieved 2012-04-06.
  6. "OGX revving up production". Upstream Online. NHST Media Group. 2011-12-02. (subscription required). Retrieved 2012-04-06.
  7. "Brazilian Energy Company OGX Files for Bankruptcy". New York Times Dealbook. 2013-10-30. Retrieved 2013-10-30.
  8. "OGX confirma à CVM pedido de recuperação judicial". Valor Econômico. Valor Econômico. 2013-10-31. Retrieved 2013-10-31.
  9. "OGX changes name to Dommo Energia". Brazil Energy Insight. 19 September 2017. {{cite web}}: Missing or empty |url= (help)
  10. "Fresh round of bonds for OGX". Upstream Online. NHST Media Group. 2012-03-28. Retrieved 2012-04-06.
  11. Palmigiani, Fabio (2011-12-02). "Gavaio to be on line in 2012". Upstream Online. NHST Media Group. (subscription required). Retrieved 2012-04-06.
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