Petro Rio, an oil exploration company, agreed to acquire OSX-3, a oil and gas exploration firm, for $136m. "The cluster’s Opex reduction will allow for a longer-term operation, during which more oil can be recovered. PetroRio estimates the assets’ useful life could be extended to at least 2035 – a 10-year extension- and 40 million barrels added to Polvo’s current reserves," PetroRio.