Initially reported as a discovery in February 2013, Brazil’s Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) has confirmed that its 1-SPS-98 (1-BRSA-1063-SPS) well, the first to be drilled on Block BM-S-50 offshore Brazil, has tested carbonate reservoirs with good permeability. The block, informally known as Sagitario, is in Brazil’s ultradeepwater Santos basin presalt region 194 km offshore Sao Paulo in 1,871 m of water. It has … Continue reading Basic Material Active Stocks: Petroleo Brasileiro Petrobras (NYSE:PBR), Chesapeake Energy Corporation (NYSE:CHK), Vale (NYSE:VALE), Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX)