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QGEP Participacoes SA (QGEP3.SA)

QGEP3.SA on Sao Paolo Stock Exchange

21 Jul 2017
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Latest Key Developments (Source: Significant Developments)

QGEP Participacoes SA proposes dividend payment
Monday, 28 Mar 2016 01:35pm EDT 

QGEP Participacoes SA:Says on April 12 it will deliberate on dividend payment of 0.15 real per share, totaling 38.7 million Brazilian reais.Payment date is April 28.Record date on April 12.Ex-dividend as of April 13.  Full Article

QGEP Participacoes SA reduces production estimate for Atlanta field and delays oil extraction
Thursday, 10 Mar 2016 06:42am EST 

QGEP Participacoes SA:Says that it reduces production estimate for Atlanta Early Production System to 20,000 bpd from 30,000 bpd, taking into account two wells that are drilled and prepared.Says that it postpones oil extraction for Q4.Says that it will no longer provide production estimates for the field until drilling of the third well is scheduled.  Full Article

QGEP Participacoes SA’s unit signs sales agreement with Shell Western Supply and Trading Ltd
Monday, 26 Oct 2015 07:55am EDT 

QGEP Participacoes SA:Says that its unit Queiroz Galvao Exploracao e Producao SA (QGEP) has signed crude oil sales agreement with Shell Western Supply and Trading Ltd (Shell).Says agreement relates to oil, extracted from Atlanta Field, where the company holds 30 pct share.Says other consortium members OGX Petroleo e Gas SA with 40 pct share and Barra Energia do Brasil Petroleo e Gas Ltda with 30 pct share have signed similar oil sales agreements.Says agreement has 3 years’ validity which can be extended for 1 year.Says will sell “free on board” on FPSO vessel and will use “netback from final product” price mechanism.Says production is scheduled for mid 2016 and potential is estimated at 25,000 bbl/d, but may reach 30,000 bbl/d with up to 3 production wells, 2 of which are already drilled.  Full Article

QGEP Participacoes SA's unit wins two high potential blocks at Brazil's 13th ANP Bidding Round
Thursday, 8 Oct 2015 09:04am EDT 

QGEP Participacoes SA:Says that its unit Queiroz Galvao Exploracao e Producao SA (QGEP) has been awarded two blocks at the 13th Bidding Round hosted by the Agencia Nacional do Petroleo, Gas Natural e Biocombustíveis (ANP).The blocks acquired by QGEP, SEAL-M-351 and SEAL-M-428, are located in ultra-deep waters in the Sergipe-Alagoas Basin, between 80 to 100 km off the coast, and have a total area of 1,512 km2.QGEP was awarded 100 percent participating interest in both blocks.QGEP committed a total of 100 million Brazilian reais as signature bonus for the two exploratory blocks: 63.9 million reais related to Block SEAL-M-351, and 36.1 million reais related to Block SEAL-M-428.In both cases, this was the minimum bonus required to bid.QGEP expects to expense approximately $15-20 million for the acquisition of seismic data at the blocks over the next five years.  Full Article