OGX


OGX Petróleo e Gás Participações S.A. is a Brazilian publicly listed oil and gas company belonging to the EBX Group. Prior to its 2013 bankruptcy filing, OGX was once Brazil's second largest oil company by market value after Petrobras.

History

OGX was founded in 2007. In June 2008 it held initial public offering and the company was listed at BM&F Bovespa.
In September 2009, the company started its exploration activities. At the same year OGX made its first oil discovery at the Waimea offshore field and on 31 January 2012 it started oil production. It made several other oil discoveries.
In 2010, it discovered oil at the Pero and Inga fields in Block BM-C-40.

Operations

OGX is engaged in onshore and offshore exploration and production activities. It owns exploratory blocks in the Campos, Santos, Espírito Santo, Pará-Maranhão and Parnaíba basins in Brazil and the Cesar-Ranchería, Lower Magdalena Valley and Middle Magdalena Valley basins in Colombia.
Its Waimea field in the Campos Basin is producing about with expected output rise to by the end of 2012. Production at the Gaviao Real field is expected to start in 2012 and at the Waikiki field in 2013. On October 30, 2013 OGX was forced to file for bankruptcy protection in the Court of Justice of Rio de Janeiro after defaulting on a $45m bond payment.