Petróleo Brasileiro S.A. - Petrobras PBR recently made a significant hydrocarbon discovery in the pre-salt region of the Campos Basin.

The discovery was made in the 1-BRSA-1394-RJS well, located 105 kilometers off the coast of Rio de Janeiro at a depth of 575 meters. The company confirmed the presence of hydrocarbons via various initial assessment techniques, such as electrical logs, gas shows and fluid sampling. Further laboratory analysis will provide more details about the reservoir’s characteristics.

An Insight Into the Norte de Brava Block

Petrobras fully acquired the Norte de Brava block in December 2022 in the first cycle of the Open Acreage bidding round organized by the National Petroleum, Natural Gas and Biofuels Agency under the Production Sharing regime. This block is considered a vital asset in its pre-salt portfolio, with Pré-Sal Petróleo S.A. as the manager. The company holds a 100% working interest in the block and has completed drilling, with final wireline logging underway.

Strengthening Petrobras’ Pre-Salt Strategy

Petrobras has earmarked $77.3 billion for its Exploration and Production segment over the next five years, with 60% dedicated to pre-salt assets. The Campos Basin discovery is part of this broader strategy, supporting Brazil’s ambitions in deepwater oil production. Beyond Brazil, Petrobras is also engaged in offshore exploration in Colombia, signaling its commitment to expanding its global footprint in energy exploration.

The news of hydrocarbon discovery in the Campos Basin emerged shortly after Petrobras confirmed hydrocarbons in the 4-BRSA-1395-SPS exploratory well of the Aram block, 245 kilometers off Santos-SP at a depth of 1,759 meters in the Santos Basin, validating its strong position in the pre-salt strategy.

PBR’s Zacks Rank and Key Picks

Headquartered in Rio de Janeiro, Petroleo Brasileiro S.A., or Petrobras S.A., is the largest integrated energy firm in Brazil and one of the largest in Latin America. Currently, PBR has a Zacks Rank #3 (Hold).

Investors interested in the energy sector might look at some top-ranked stocks like Delek Logistics Partners, LP DKL, Archrock, Inc. AROC and Canadian Natural Resources Limited CNQ.While Delek Logistics and Archrock currently sport a Zacks Rank #1 (Strong Buy) each, Canadian Natural carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Delek Logistics Partners owns, operates, acquires and constructs crude oil and refined products logistics and marketing assets. The Zacks Consensus Estimate for DKL’s 2025 earnings indicates 34.45% year-over-year growth.

Houston-based Archrock is a provider of natural gas contract compression services as well as a supplier of aftermarket services for compression equipment. The Zacks Consensus Estimate for AROC’s 2025 earnings indicates 46.67% year-over-year growth.

Calgary-based Canadian Natural Resources is one of the largest independent energy companies in Canada engaged in the exploration, development and production of oil and natural gas. The Zacks Consensus Estimate for CNQ’s 2025 earnings indicates 5.53% year-over-year growth.

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Petroleo Brasileiro S.A.- Petrobras (PBR) : Free Stock Analysis Report

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