3R agrees to merger with DBO

3R agrees to merger with DBO

M&A Equity Energy Oil Gas Brazil

Rio de Janeiro-based oil company 3R Petroleum said its board approved a partnership with DBO Energy "to seek opportunities to acquire offshore assets under development or in production in Brazil." 3R did not disclose the financial details of the deal, but it said in a statement that it will have control of the tie-up with a 70% stake. 3R has a license from oil and gas regulator ANP to "operate blocks and concessions in land and sea, including ultra-deep waters," it added. Also based in Rio, DBO

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