* OGX well in Tubarao Azul was restarted over weekend
* Company output plunged in July after well suspended
* OGX stock rises 7 percent, trading near 1-month high
(Adds additional field and well output data, background of OGX
shares, production problems.)
RIO DE JANEIRO, Aug 6 OGX Petroleo e Gas SA
, Brazil's No. 2 oil company by market value,
restarted output over the weekend at an offshore well northeast
of Rio de Janeiro where production was suspended in June, a
company spokesman told Reuters Monday.
The well, known as OGX-26, is part of the Tubarao Azul Field
where OGX produced its first-ever oil in February.
Problems with a sub-sea pump at the well helped cut output
from Tubarao Azul by nearly a quarter in July to 7,000 barrels a
day from 9,200 barrels a day in June, OGX said in a securities
filing on Monday.
Lower than expected output from the field has helped
undermine confidence that the Rio de Janeiro-based oil start-up
will achieve its production of 1.4 million barrels of oil and
gas by 2020, as promised by controlling shareholder, Brazilian
billionaire Eike Batista.
The stock has plunged about 40 percent since mid-June, but
rose 7 percent on Monday to 6.15 reais in Sao Paulo, its highest
close in nearly a month.
In the wake of the share plunge, Chief Executive Paulo
Mendonca, one of Brazil's most respected petroleum geologists,
(Reporting by Sabrina Lorenzi and Jeb Blount; Editing by Carol
Bishopric and Richard Pullin)