Petro-Victory initiates SJ-12 well drilling in Brazil's Barreirinhas Basin [Yahoo! Finance]
Halliburton Company (HAL)
Last halliburton company earnings: 4/20 06:45 am
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Source: Yahoo! Finance
The move follows the company's previously disclosed commitment under a memorandum of understanding (MoU). Petro-Victory holds a full working interest and operatorship of the São João Field after the Agência Nacional do Petróleo approved its acquisition in August 2022. The SJ-12 well is part of a single non-associated gas well commitment outlined in the MoU. According to an independent reserve and resource report from GLJ dated December 2024, the São João Field contains best estimate (2C) development pending contingent resources with risked volumes of 50.1 billion cubic feet (bcf) of non-associated gas. Petro-Victory expects drilling and testing at SJ-12 to demonstrate the deliverability required for advancing initial gas commercialisation efforts in the region. These efforts involve arrangements to supply regional industrial and power demand, as well as other market-based solutions suitable for developments of this scale. All operations at São João Field remain subject to r
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