A 3R Petroleum (RRRP3) should start operating at the Potiguar hub in June, as analysts point out.
For Vitor Souza and Israel Rodrigues, analysts at Genius Investments, it is possible to see the company “entering the month of June fully operating the asset, at the latest, by the middle of the month”.
The junior oil company announced, last Friday (19), which received license to operate the fields of Polo Potiguar.
The operational license, delivered by the Brazilian Institute of the Environment and Renewable Natural Resources (IBAMA), was the last condition precedent for the purchase of the asset from the Petrobras (PETR4).
Analysts explain that, after the approval of the pending conditions, 3R now has 20 days to conclude the operation by paying the residual value of the agreement signed in early 2022, of US$ 1.38 billion.
For Pedro Soares, an analyst at the BTG Pactualthe merger of Potiguar is a “major risk event” for 3R’s investment thesis and should allow the share value to be reassessed.
“Despite the concerns with corporate governance, the visibility of cash flow will increase a lot from now on”, points out the analyst.
O BTG it also estimates that the oil company will start operating at the hub in early June, and reiterated its buy recommendation for the shares.
On the other hand, Genial did not change its recommendation to “keep” the stock, with a target price of BRL 62. For analysts, even though the 3R represents a good opportunity at the current price, “we prefer to remain skeptical and wait the unfolding of events”, they explain.
Source: Moneytimes
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