Petrobras Deepens Its Roots in Buzios Field With a New Well Drilling

Petróleo Brasileiro S.A. - Petrobras PBR has begun drilling a new well, 9-BUZ-103D-RJS, in the Buzios Field in Brazil’s prolific Campos Basin. The operation is happening at a water depth of 1,700 meters, highlighting the technical depth and ambition of Brazil’s national oil company in the pre-salt frontier. The drillship Atlantic Zonda, operated by Ventura Offshore and owned by Eldorado Drilling, is spearheading the project.Petrobras is one of Latin America’s largest publicly-traded oil companies, which dominates Brazil’s oil and gas sector. The company produces most of Brazil’s crude oil and natural gas and accounts for almost the entire refining capacity of the country. With the company’s encouraging portfolio of investments, particularly in Brazil’s pre-salt reservoirs that lie in the Campos and Santos basins in deep and ultra-deep water, the country’s energy outlook looks positive.Petrobras' aggressive development of the Buzios field, the largest deepwater oil field in the world, positions it for substantial long-term growth. Buzios is expected to reach 2 million barrels per day by 2030, representing an unmatched production scale. Petrobras’ continuous drilling operations in various areas of this field create a positive trajectory to boost its oil production volumes, helping to stay competitive in a rapidly evolving market.Atlantic Zonda DrillshipThe seventh-generation Atlantic Zonda drillship is under a three-year drilling contract with Petrobras with an option to extend for another three years. The Atlantic Zonda is operated by Ventura Offshore under marketing and operating agreements with its owner, Eldorado Drilling. The drillship is a full dual-activity rig, featuring Managed Pressure Drilling capabilities.Recent DiscoveriesThe new drilling move continues Petrobras' push in one of the most promising oil-producing regions offshore Brazil. Just earlier this year, the company struck oil in another Buzios well (9-BUZ-99D-RJS), identifying a new accumulation beneath the main reservoir, further validating the field’s vast untapped potential.More Drilling in Campos and Santos BasinsBeyond Buzios, Petrobras is ramping up its activities across the broader pre-salt zone. The company recently resumed drilling in the Agua Marinha block, restarting operations at wildcat well 1-BRSA-1401D-RJS. Simultaneously, it has drilled well 3-BRSA-1400A-SPS in the Aram block of the Santos Basin, another hotspot in Brazil’s offshore oil map.Why it MattersThis string of drilling campaigns showcases Petrobras' confidence in Brazil's pre-salt layer, a region that continues to deliver both technically and commercially. As the company drills deeper and wider across the Campos and Santos basins, it sets the stage for more discoveries that could further boost Brazil’s energy dominance on the global stage.PBR’s Zacks Rank & Key PicksHeadquartered in Rio de Janeiro, Petroleo Brasileiro S.A., or Petrobras, is the largest integrated energy firm in Brazil. Currently, PBR has a Zacks Rank #3 (Hold).Investors interested in the energy sector might look at some better-ranked stocks like National Fuel Gas Company NFG, Sasol Limited SSL and MPLX LP MPLX. While National Fuel and Sasol currently sport a Zacks Rank #1 (Strong Buy) each, MPLX carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Williamsville, New York-based National Fuel Gas is an integrated energy company, which has natural gas assets located in the prolific Appalachian basin and oil-producing assets in California. The Zacks Consensus Estimate for NFG’s 2025 earnings indicates 27.34% year-over-year growth.Sasol is engaged in the mining and processing of coal. It also produces chemicals, explores for and refines crude oil, and manufactures fertilizers and explosives. SSL’s expected earnings per share growth rate for the next five years is 16%, which compares favorably with the industry growth rate of 15.70%.Findlay, OH-based MPLX is a master limited partnership engaged in providing a wide range of midstream energy services, including fuel distribution solutions. The Zacks Consensus Estimate for MPLX’s 2025 earnings indicates 9.48% year-over-year growth.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Petroleo Brasileiro S.A.- Petrobras (PBR): Free Stock Analysis Report Sasol Ltd. (SSL): Free Stock Analysis Report National Fuel Gas Company (NFG): Free Stock Analysis Report MPLX LP (MPLX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks