PetroReconcavo completed the acquisition of Maha Energy Brasil from Maha Energy for $187m.

PetroReconcavo, an independent onshore oil and gas exploration and production operator, completed the acquisition of Maha Energy Brasil from Maha Energy, an oil producer, for $187m. “This divestment is a significant step within the Company’s new strategic positioning, continuously focusing on generating value for shareholders. As a result of this sale, we will have a strong balance sheet and cash position, enabling the Company to pursue further opportunities in the O&G market," Paulo Thiago Mendonça, Maha Energy CEO.