OGX Looks for Additional Partnerships

OGX Looks for Additional Partnerships

Brazil M&A

Brazil’s OGX is in the process of selling stakes in some of its exploration block licenses, it says. “The company is in talks over the blocks it won without partners” in an auction in May, it says, to avoid running out of cash. OGX has been awarded 10 licenses to operate blocks as well as stakes in three other blocks in which it has partnerships with ExxonMobil, Total and Queiroz Galvao. It is facing a liquidity crunch and has seen credit rating downgrades follows the company’s announcement that

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial