PetroReconcavo
PetroReconcavo is a Brazilian independent oil and gas operator (B3: RECV3) that revitalizes mature onshore fields in the Recôncavo and Potiguar basins, operating 57 concessions and 700+ wells, and producing crude oil, natural gas, LNG, and midstream services for industrial and distribution customers across Northeast Brazil.
- Company typePublic
- Founded1999
- HeadquartersMossoró, Brazil
- Headcount101–250
- GTM typeB2B
- OfferingServices
What PetroReconcavo does
PetroReconcavo S.A. (B3: RECV3) is a Brazilian independent upstream oil and gas operator specializing in the operation, development, and revitalization of mature onshore fields. Founded in 1999 following Brazil's 1997 Oil Law, the company operates 57 concessions across the Recôncavo Basin (Bahia) and Potiguar Basin (Rio Grande do Norte), with more than 700 producing wells, 2P reserves of 182.2 MMBOE, and production averaging 26.5 kboe/day in 2025. The asset base was assembled initially through a 2000 production-sharing contract with Petrobras in Bahia, and expanded materially via the 2019 Topázio Project acquisition of Petrobras onshore assets in Rio Grande do Norte.
The company runs a vertically integrated operating model anchored by owned drilling (3 rigs) and workover (12 rigs) fleets, with natural gas representing 42% of the portfolio. Revenue streams include crude oil production (exposed to Brent), natural gas sales to industrial consumers and regional distributors such as Copergás, midstream services (including the 50%-owned UPGN Guamaré processing unit and oil storage at Porto de Pecém), and an emerging LNG/CNG distribution business launched in November 2025 through a 10-year partnership with GNLink at Assú (RN). The company also secured ANP authorization in October 2025 to import up to 2 million m³/day of gas from Bolivia or Argentina, with the first 100,000 m³ import delivered in March 2026. Distribution relies on long-term B2B contracts with industrial energy consumers, gas distribution companies, and logistics partners.
Commercially, the company sells primarily under long-term offtake contracts at commodity-linked or negotiated prices, and is now expanding into international gas trading. Financial performance in 2025 included R$ 3.157 billion in revenue, R$ 638 million in net profit (46% YoY increase), 1.04x Net Debt/EBITDA leverage, and the lowest lifting cost in the Brazilian onshore sector at US$ 15.82/boe in Q1 2026. The company is publicly listed on B3's Novo Mercado segment and included in the Ibovespa, IGC, ITAG, IDIV, and SMLL indices, with a Moody's Local Brazil AA.br corporate credit rating.
PetroReconcavo firmographics
Firmographics- Name
- PetroReconcavo
- Legal name
- PetroRecôncavo S.A.
- Website
- https://petroreconcavo.com.br
- Company type
- Public
- Founded year
- 1999
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- PetroReconcavo is a Brazilian independent oil and gas operator (B3: RECV3) that revitalizes mature onshore fields in the Recôncavo and Potiguar basins, operating 57 concessions and 700+ wells, and producing crude oil, natural gas, LNG, and midstream services for industrial and distribution customers across Northeast Brazil.
- Ownership category
- akta.pro rank
PetroReconcavo industry classification
Industry- Product category
- Onshore Oil and Gas Exploration and Production
- NAICS
- Oil and Gas Extraction (2111), Crude Petroleum Extraction (21112), Natural Gas Extraction (21113), Natural Gas Extraction (211130), Pipeline Transportation of Refined Petroleum Products (486910)
- SIC
- Crude Petroleum & Natural Gas (1311), Oil & Gas Field Machinery & Equipment (3533), Oil & Gas Field Services, Nec (1389), Wholesale-Petroleum Bulk Stations & Terminals (5171)
- akta.pro primary industry
- Sulfur & Acid Gas Feedstocks (Sulfur, Sulfuric Acid, Mercaptans) (EUALAHAH)
- akta.pro secondary industries
- Marine Terminals & Port Storage (Jetties, Docking, Bunkering Interfaces) (EUALAEAG), Drilling & Well Construction (Rig Ops, Directional, Casing, Cementing) (EUAAAAAI), Blending, Additization & Terminal Operations (In-Terminal Blending, Dyeing, Bio-blending) (EUALAEAJ), Unbranded/Spot Fuels Distribution (Rack Sales) (EUALAIAC)
Keywords
Where PetroReconcavo is headquartered
LocationHeadquarters
- HQ city
- Mossoró
- HQ country
- Brazil
- HQ region
- Latin America
Offices5 records
Markets served
PetroReconcavo business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Supply Chain, Infrastructure, Others
Revenue model
- Oil Production and Sales: Sale of crude oil produced from operated fields in Bahia and Rio Grande do Norte. Revenue is exposed to international oil price fluctuations (Brent), with the company implementing hedging strategies to manage volatility.
- Natural Gas Production and Sales: Production and sale of natural gas to industrial consumers, distributors like Copergás, and through the LNG distribution network. Gas represented 42% of the company's portfolio as of 2025.
- Midstream Services: Processing and logistics services including gas processing at UPGN Guamaré, oil storage and handling at Porto de Pecém, and LNG production and distribution. Revenue from third-party processing and infrastructure usage fees.
- Drilling and Workover Services: Internal provision of drilling and workover services using owned equipment fleet, reducing operational costs and providing service flexibility.
Go-to-market motion2 records
Distribution channels4 records
Marketing channels7 records
PetroReconcavo product offering
Product offeringCore offering
PetroReconcavo is an independent Brazilian oil and gas operator that produces and sells crude oil and natural gas from mature onshore fields in the Recôncavo Basin (Bahia) and the Potiguar Basin (Rio Grande do Norte), operating 57 concessions and more than 700 producing wells. Operations are vertically integrated through an owned fleet of 3 drilling rigs and 12 workover rigs, complemented by midstream processing (UPGN Guamaré) and an LNG/CNG distribution plant in Assú (RN). The company sells primarily under long-term offtake contracts to industrial consumers, gas distributors and trading partners, and imports natural gas from Bolivia and Argentina under ANP authorization.
Product overview
PetroReconcavo is an independent oil and gas producer specializing in the revitalization of mature onshore fields in Brazil's Recôncavo and Potigar Basins. The company operates a vertically integrated model combining Crude Oil Production and Natural Gas Production as core offerings, supported by in-house Drilling and Workover Services for operational autonomy. The portfolio includes 57 concessions and over 700 producing wells, with gas representing 42% of production. Midstream capabilities are strengthened through the UPGN Guamaré processing facility, while downstream distribution is enabled through the Liquefied and Compressed Natural Gas plant in Assú. International Gas Import Services round out the offering, allowing integration of Bolivian and Argentine gas supplies. This vertical integration from exploration to distribution distinguishes the company's integrated energy solutions approach.
Differentiator
Problem solved
Functional benefit
Products and services
- Crude Oil Production Onshore crude oil extraction and production from mature fields in the Recôncavo Basin (Bahia) and Potiguar Basin (Rio Grande do Norte), covering 57 concessions and over 700 producing wells. Sold under long-term offtake contracts to industrial consumers and trading partners.
- Natural Gas Production Natural gas extraction (associated and non-associated) and processing, representing 42% of the company's portfolio as of 2025. Produced from Bahia and Rio Grande do Norte fields and sold to industrial consumers, gas distributors (e.g., Copergás) and via LNG/CNG networks.
- Drilling and Workover Services Provision of drilling and workover services using an owned fleet of 3 drilling rigs and 12 workover rigs. Provides operational autonomy and efficiency for field development and well maintenance, reducing dependence on third-party oilfield service providers.
- Midstream Gas Processing (UPGN Guamaré) 50% ownership stake in the UPGN Guamaré gas processing unit in Rio Grande do Norte, providing reliability in natural gas processing and cost optimization for the company's gas business and third-party users.
- Liquefied and Compressed Natural Gas (LNG/CNG) Distribution LNG and CNG distribution produced via the Assú (RN) liquefaction and compression plant, with capacity of 100,000 m³/day. Delivered by truck to industrial and distribution customers within a 1,000 km radius, enabling gas supply to regions without pipeline infrastructure.
- International Gas Import Services Import and resale of natural gas from Bolivia and Argentina, authorized by ANP to import up to 2 million m³/day. Enables integration of international producers, transportation and end customers, reinforcing supply flexibility for the Brazilian Northeast.
- Oil Storage and Logistics Services Oil movement and storage services through a long-term contract at Porto de Pecém in Ceará with Grupo Dislub Equador, providing strategic port access for crude oil export and domestic sales from Rio Grande do Norte fields.
Quantifiable outcome
- Production growth from 6,000 to over 25,000 boe/day since IPO in 2021
- +5 more outcomes
Companies that use PetroReconcavo
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
PetroReconcavo technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
PetroReconcavo partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- GNLinkcorePartnership to develop and operate the first natural gas liquefaction and compression plant in Rio Grande do Norte at Assú. The 10-year agreement covers liquefaction, compression, storage, transport, and regasification of natural gas. GNLink operates the plant while PetroReconcavo supplies feedstock from its 34 concessions in RN. The R$ 125 million investment has capacity of 100,000 m³/day of gas, serving regions within 1000 km radius including Ceará, Pernambuco, and Maranhão.
- ANP (Agência Nacional do Petróleo, Gás Natural e Biocombustíveis)coreRegulatory authorization to import up to 2 million m³/day of natural gas from Bolivia or Argentina. This enables PetroReconcavo to diversify its supply portfolio and strengthen its position as a regional gas supplier.
- Brava EnergiacoreAcquisition of 50% of midstream assets from Brava Energia in Rio Grande do Norte, specifically the UPGN Guamaré gas processing unit. This acquisition contributes to greater reliability in natural gas processing, cost optimization, and strengthened logistics integration.
- Grupo Dislub EquadorcoreLong-term contract for oil movement and storage at Porto de Pecém, Ceará. This partnership transforms PetroReconcavo's logistics offtake capabilities in Rio Grande do Norte, providing strategic access to port infrastructure for crude oil export and domestic sales.
- VisagiominorConsulting firm specializing in analytical transformation that developed PetroReconcavo's data champions training program. The partnership supports the company's data-driven culture initiative by providing structured learning paths in data engineering and data science.
Scale indicators15 records
Recent moves6 records
Expansion highlights6 records
PetroReconcavo competitors and assessment
Company assessmentDirect peers
- Brava Energia: Brazilian independent onshore oil and gas producer formed from the merger of Enauta and 3R Petroleum assets. Directly comparable as a Brazilian onshore E&P operator with overlapping mature field positions; PetroReconcavo even acquired 50% of Brava's UPGN Guamaré midstream assets in 2025.
- Eneva: B3-listed integrated energy company combining onshore gas E&P with thermal power generation in Brazil. Comparable business model combining gas production with downstream energy infrastructure and a focus on Brazilian Northeast markets.
- Origem Energia: Private Brazilian independent upstream operator focused on mature onshore field revitalization. Comparable as a domestic Brazilian E&P peer pursuing similar acquisition-led growth strategies in mature basins.
- Maha Energy: Sweden-listed upstream company with producing assets in Brazil (Polvo field) and a strategic focus on mature field redevelopment. Comparable as a smaller international E&P operator with material Brazil exposure.
- Imetame Energia: Brazilian independent E&P and energy infrastructure operator with onshore oil and gas assets. Comparable as a domestic Brazilian peer operating mature onshore fields with integrated midstream and gas distribution activities.
- PetroRio: B3-listed Brazilian independent oil producer (PRIO3) operating primarily offshore but pursuing similar acquisition-led growth and reserve revitalization strategies. Comparable as a Brazilian independent operator with a strong focus on capital efficiency.
Emerging players
- Alvopetro: Smaller Canadian-listed E&P company with natural gas production in Brazil's Recôncavo Basin. Partial overlap as a Brazilian-focused gas producer operating in one of the same basins as PetroReconcavo, though significantly smaller in scale.
Regional players
- Gran Tierra Energy: Latin America-focused independent upstream operator with assets primarily in Colombia and Ecuador. Comparable as a regional Latin American onshore E&P peer pursuing similar reserve development and production optimization strategies, though operating in different geographies.
- GeoPark Limited: Latin America-focused independent E&P company operating across Colombia, Argentina, Chile, and Brazil. Comparable as a multi-country Latin American independent operator with similar mature field development expertise, though diversified across geographies.
Broad incumbents
- Apache Corporation (APA Corp): Large independent E&P company with global operations and deep expertise in mature field revitalization (e.g., Permian Basin). Comparable in domain expertise around secondary recovery and operational efficiency in mature onshore assets, though significantly larger and more geographically diversified.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
PetroReconcavo social profiles
Digital presencePetroReconcavo financial estimates
Financial estimateRevenue estimate
Valuation estimate
PetroReconcavo leadership team
Management profileNumber of profiles
Profiles6 records
PetroReconcavo funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PetroReconcavo M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PetroReconcavo
What does PetroReconcavo do?
PetroReconcavo is an independent Brazilian oil and gas operator that produces and sells crude oil and natural gas from mature onshore fields in the Recôncavo Basin (Bahia) and the Potiguar Basin (Rio Grande do Norte), operating 57 concessions and more than 700 producing wells. Operations are vertically integrated through an owned fleet of 3 drilling rigs and 12 workover rigs, complemented by midstream processing (UPGN Guamaré) and an LNG/CNG distribution plant in Assú (RN). The company sells primarily under long-term offtake contracts to industrial consumers, gas distributors and trading partners, and imports natural gas from Bolivia and Argentina under ANP authorization.
Is PetroReconcavo a public or private company?
PetroReconcavo is a public company. It is classified as public and is currently operating.
When was PetroReconcavo founded?
PetroReconcavo was founded in 1999. It employs 101 to 250 people.
Where is PetroReconcavo based?
PetroReconcavo is headquartered in Mossoró, Brazil, in the Latin America region.
How does PetroReconcavo make money?
Four revenue lines are on record. Oil Production and Sales are the primary driver. The others are natural Gas Production and Sales, midstream Services and drilling and Workover Services.
Who are PetroReconcavo's main competitors?
Direct peers on record are Brava Energia, Eneva, Origem Energia, Maha Energy, Imetame Energia and PetroRio. Alvopetro is listed as an emerging player. Regional players are Gran Tierra Energy and GeoPark Limited. Apache Corporation (APA Corp) is listed as a broad incumbent.
Does PetroReconcavo have an API?
No public API is recorded for PetroReconcavo.
What industry is PetroReconcavo in?
PetroReconcavo's product category is Onshore Oil and Gas Exploration and Production. Its primary akta.pro industry code is EUALAHAH, Sulfur & Acid Gas Feedstocks (Sulfur, Sulfuric Acid, Mercaptans), with a secondary code of EUALAEAG, Marine Terminals & Port Storage (Jetties, Docking, Bunkering Interfaces). Its NAICS code is 2111 and its SIC code is 1311.