Azevedo & Travassos Energia S.A
1.20
BRL
-0.04
(-3.23%)
Azevedo & Travassos Energia S.A
B3:AZTE3
(B3)
Recent
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1.20
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ROIC.AI
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- Azevedo & Travassos Energia S.A. is an independent Brazilian energy company engaged in the exploration, development, revitalization, and production of onshore crude oil and natural gas assets. Operating primarily through its specialized operating subsidiaries, Azevedo & Travassos Petróleo S.A. and Phoenix Óleo e Gás S.A., the company focuses on mature oilfields and marginal concessions situated in Brazil, with core operational concentrations across the Potiguar Basin in the State of Rio Grande do Norte. The company offers a comprehensive range of upstream energy products and oilfield management operations, including the extraction, production, and wholesale commercialization of light and medium crude oil; the extraction, processing, and delivery of natural gas; well intervention, workover, and drilling operations; field revitalization and secondary recovery optimization for mature hydrocarbon reservoirs; and the engineering, construction, and maintenance of surface production gathering facilities, processing stations, and field distribution pipelines. Founded in 2023 as the dedicated upstream energy spin-off of Brazilian engineering and infrastructure conglomerate Azevedo & Travassos S.A. (established in 1922) and headquartered in São Paulo, Brazil, the company completed its corporate spin-off and was listed on the B3 stock exchange under the ticker symbol AZTE3 in February 2025. In recent developments, Azevedo & Travassos Energia S.A. accelerated its portfolio expansion through the full acquisition of Phoenix Óleo e Gás S.A., thereby acquiring operator rights to the Periquito Cluster covering the Periquito, Periquito Norte, Periquito Nordeste, Concriz, and Rio do Carmo producing fields; entered into a strategic farm-in and joint development agreement with Petro-Victory Energy Corp. for drilling, workover, and shared revenue production programs across concession blocks in the Potiguar Basin including the Andorinha field and block POT-T-281; and structured a transaction to acquire multiple mature onshore concessions in the Porto Carão and Barrinha clusters from Brava Energia S.A., encompassing pre-operational field transition programs and subsequent contractual settlement procedures.