Azevedo & Travassos Energia

What Azevedo & Travassos Energia does

Azevedo & Travassos Energia S.A. (ATE) is a publicly listed Brazilian oil and gas exploration and production company headquartered in São Paulo and traded on B3 under ticker AZTE3. The company focuses on acquiring and developing mature onshore oil and gas fields in the Potiguar Basin in Rio Grande do Norte, Brazil, operating through wholly-owned subsidiaries Azevedo & Travassos Petróleo (ATP), Phoenix Óleo e Gás (acquired June 2024), and Andorinha Energia Ltda. (incorporated June 2026). Its asset portfolio includes 100% working interest in Polo Periquito (5 producing fields and 2 exploratory blocks), the Andorinha Field, and 10 additional concessions covering 12 oil fields with estimated total oil in place of 124.87 million barrels and 3.36 million barrels of proven 1P reserves, plus 6 exploration blocks with approximately 150 km² of 3D seismic coverage.

The company generates revenue through the exploration, production, and sale of crude oil and natural gas from its onshore fields, with reported average daily production of 114 boe/d as of June 2026. ATE's go-to-market strategy as a publicly listed company is driven by an M&A-led growth model: it acquires mature fields with development potential, integrates operations through its operating subsidiaries, and funds expansion through equity capital raises on B3, including a February 2025 IPO and subsequent subscription bonus issuances. Customer-facing channels are typical commodity oil and gas sales rather than direct enterprise selling, while stakeholder engagement is conducted through investor relations channels including the corporate website, CVM regulatory disclosures, and Brazilian energy trade media. The broader strategic intent is to consolidate Potiguar Basin acreage and build a scaled onshore Brazilian E&P operator.

Name

Azevedo & Travassos Energia

Legal name

Azevedo & Travassos Energia S.A.

Website

https://azevedotravassosenergia.com.br

Company type

Public

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

Azevedo & Travassos Energia is a Brazil-based, B3-listed oil and gas exploration and production company that acquires and develops mature onshore fields in the Potiguar Basin through operating subsidiaries, producing crude oil and natural gas for the Brazilian market.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Production

NAICS

Crude Petroleum Extraction (211120), Natural Gas Extraction (21113)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Production Services & Artificial Lift (ESP, Rod Lift, Gas Lift, Chemicals) (EUALABAH)

Keywords

• Upstream oil gas
• Onshore oil production
• Mature field development
• Crude oil exploration
• Natural gas production

Headquarters

HQ city

São Paulo

HQ country

Brazil

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. Oil and Gas Production Revenue: The company generates revenue through the exploration, production, and commercialization of petroleum, natural gas, and derivatives from its onshore fields in the Potigar Basin, Brazil.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Azevedo & Travassos Energia is an independent upstream oil and gas producer that acquires and develops mature onshore fields in Brazil's Potiguar Basin in Rio Grande do Norte, producing and selling crude oil and natural gas. The company operates through three subsidiaries — Azevedo & Travassos Petróleo (ATP), Phoenix Óleo e Gás, and Andorinha Energia Ltda. — holding producing assets at the Polo Periquito, Andorinha Field, and Lobato Concessions.

Product overview

Azevedo & Travassos Energia (ATE) operates as an investment holding company with two main subsidiaries: Azevedo & Travassos Petróleo (ATP), the parent oil & gas entity with over 30 years of industry expertise focused on mature onshore field acquisitions, and Phoenix Óleo e Gás, acquired in June 2024, which operates Polo Periquito with 100% working interest in 5 producing fields and 2 exploratory blocks in Potigar Basin. The portfolio was significantly expanded through the June 2026 incorporation of Andorinha Energia Ltda., adding 12 additional fields from the Lobato Concessions and 6 exploratory blocks totaling approximately 150 km² of 3D seismic coverage.

Differentiator

Problem solved

Functional benefit

Brands

• Polo Periquito: Oil and gas production hub consisting of Periquito, Periquito Norte, Periquito Nordeste, Concriz, and Rio do Carmo fields in Potiguar Basin
• Polo Phoenix
• Polo Barrinha
• Polo Porto Carão

Products and services

• Polo Periquito

Quantifiable outcome

• 114 boe/d production capacity as of June 2026
• +1 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• Andorinha Energia Ltda.coreStrategic or Co-development Partner · 17 June 2026Approval of incorporation of Andorinha Energia Ltda. by ATE in June 2026. The transaction adds 10 concessions with 12 oil fields, 100% of Andorinha field, and 6 exploration blocks covering approximately 150 km2 to ATE's portfolio.
• Petro-Victory Energia Ltda. (PVE)coreStrategic or Co-development Partner · 26 March 2026Strategic association agreement signed March 26, 2026 involving corporate reorganization where PVE creates a NewCo subsidiary with certain producing and exploration assets, which will then be incorporated into ATE in exchange for 10.25% equity stake. The agreement includes assets such as 50% of concession contracts with 3R Potigar and 3R RNCE, 100% of Andorinha field, and 6 exploration blocks.
• 3R Potigar S.A. and 3R RNCE S.A.coreStrategic or Co-development PartnerAsset purchase agreements for acquisition of 100% of concession rights covering 10 fields with estimated 124.87 million barrels of oil in place and 3.36 million barrels of proven 1P reserves.

Scale indicators5 records

Recent moves8 records

Expansion highlights4 records

Broad incumbents

• Petrobras: Brazil's national oil company and dominant upstream producer. While operating predominantly offshore pre-salt at much larger scale, Petrobras is the source of the mature onshore divestiture assets ATE and its peers are acquiring, and sets the regulatory framework via ANP concessions.
• Eneva: Brazilian integrated energy company with onshore E&P (post-Origem Energia acquisition) and gas-fired power generation. Overlaps with ATE on Brazilian onshore E&P but operates a much larger, diversified platform including generation and downstream.

Direct peers

• Origem Energia: Brazilian onshore E&P company focused on mature oil and gas fields. Similar strategy of acquiring divested Petrobras assets and operating them with lean cost structures; serves overlapping investor base interested in small-cap Brazilian upstream exposure.
• Alvopetro Energy: Brazil-focused upstream E&P company with onshore and shallow-water operations. Comparable small-cap Brazilian upstream profile with a focus on developing producing assets and pursuing adjacent acquisition opportunities.
• 3R Petroleum (3R Potiguar / 3R RNCE): Brazilian upstream E&P company created to acquire and redevelop Petrobras's mature onshore fields, including the very 3R Potiguar and 3R RNCE assets ATE acquired from in 2026. Closely comparable business model of consolidating and operating mature Brazilian onshore oil concessions.
• Recôncavo Energia: Brazilian onshore oil and gas producer operating mature fields with a lean operational model. Closely comparable in scale, asset profile (mature onshore Brazilian fields), and small-cap Brazilian E&P positioning.
• Maha Energy: Small-cap international upstream company with operations in Brazil (and other geographies). Comparable in pursuing mature field redevelopment opportunities in onshore Brazil and in maintaining a small-cap, acquisition-driven growth model.
• Petro-Victory Energia: Brazilian onshore-focused oil and gas E&P company operating in the Potiguar Basin. Most directly comparable to ATE: similar asset base geography, partner in the 2026 NewCo association agreement, and shared focus on mature onshore fields with limited scale.

Regional players

• Gran Tierra Energy: Latin American-focused upstream E&P company with operations primarily in Colombia but historical Brazil exposure. Comparable in scale and in focusing on mature onshore fields, though operating primarily in a different South American geography.

Emerging players

• PRIO (PetroRio): Brazilian independent E&P company focused on offshore redevelopment of mature fields (Polvo, Frade, Albacora Leste). Comparable in acquisition-led growth and operating leverage on redevelopment economics, though offshore-focused rather than onshore.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/azevedo-e-travassos-energia

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Azevedo & Travassos Energia