STXNEWS LATAM-Brazil's Oleo e Gas starts oil output in new well

Thu Jul 3, 2014 6:12pm EDT

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Brazilian oil company Oleo e Gas Participacoes SA started producing oil in a third well in the Tubarão Martelo field in the off-shore Campos basin, according to a securities filing on Thursday.

A judge last month approved a restructuring plan for the bankrupt company formerly known as OGX and controlled by tycoon Eike Batista. The company's filing said the new production was an important step towards financial recuperation.

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