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Seacrest plans to invest up to US$100mn in 2024

Seacrest Petróleo intends to invest between US$70mn and US$100mn in Brazil this year, John de Los Santos, head of investor relations, told BNamericas. 

The capex is earmarked to drill 40 to 50 wells in the Norte Capixaba and Cricaré onshore hubs.

The investments foreseen for 2024-27 total US$400mn for a 300-well drilling program in the country.

“By 2027 we want to triple our production, which closed 2023 with around 8,200b/d of oil,” Santos said.

On Monday, Seacrest announced a platform services partnership with PetroRecôncavo to accelerate the drilling program, which is the largest onshore one in Brazil, according to the Bermuda-headquartered company.

PetroRecôncavo has mobilized a drilling rig and an extensive suite of drilling rig services to begin work by the end of April.

The Norte Capixaba and Cricaré hubs are in the Espírito Santo basin, in the southeast region of Brazil.

They were acquired from federal oil company Petrobras in December 2021 and April 2023, respectively.

Cricaré comprises 26 onshore fields, and Norte Capixaba five fields, besides a terminal that offers direct access to the domestic and international markets.

The fields have estimated volumes of oil and gas in place of 1.2Bboe and certified 2P reserves (proven + probable) of 140Mboe.

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