O Globo reports that Brava Energia, a Brazilian company, will sell Potiguar's assets to PetroReconcavo.

The newspaper O Globo, citing reliable sources, reported that Brava Energia, a Brazilian company, had reached an agreement with PetroReconcavo to sell assets in the Potiguar Basin for a total of around 13 billion reais (2.13 billion dollars).

According to the report, the acquisition of the assets in Brazil's oil basin would enable PetroReconcavo reduce costs and could also lead to better agreements with suppliers.

After the report, shares of Brava (the oil company created by the merger of Brazil's 3R Petroleum with Enauta) surged 9.4% at Brazil's B3 Stock Exchange. PetroReconcavo shares were up around 1%.

Brava, without confirming or disputing the O Globo Report, said in a press release that it "works continuously on active management of its Portfolio, seeking to accelerate and optimize value generation."

PetroReconcavo didn't immediately respond to a comment request.

3R Petroleum, PetroReconcavo and others considered merging their onshore assets earlier this year. This would have allowed both companies to share infrastructure and not need large investments.

(source: Reuters)