HRT Participações And Oleo E Gas Participacoes - Lessons Learned From The Disasters
- HRT (HRTPY) collected $1.5 billion in its IPO in 2010 and lost all that money in the next 4 years.
- OGX (OGXPY) raised 5.87 billion reais in its IPO in 2008 and went on to loose all of that.
- Those that invested in shares of both companies and in bonds from OGX suffered huge loses.
- Those that don't study history are doomed to repeat it, so let's see what we can learn from the disasters.
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Jan. 9, 2014, 12:31 PM
- Brazil's HRT Participacoes em Petroleo (HRTPY, HRTPF) says it has completed its purchase of a stake in an offshore oil field from BP, transforming it from an exploration company into an oil producer.
- HRT paid $135M for a 60% stake in the Polvo offshore oil field in a deal that was first announced in May 2013 and approved by Brazilian regulators last month.
- Polvo currently produces ~12K bbl/day of heavy crude that should provide a steady stream of revenue for HRT, which has seen investors bail out of shares amid a series of management shakeups and failures at several prospects off the coast of Namibia.
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HRTPF vs. ETF Alternatives
HRT Participaes em Petrleo S.A. (Company or HRT) is an independent Brazilian oil and natural gas exploration and production (E&P) holding company, formed by a group of senior geoscientists and engineers who previously held key positions at Petrleo Brasileiro S.A - Petrobras, and the ANP as... More
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