Brava Energia advances Papa-Terra field production timeline

Brava Energia shares rose following positive operational updates regarding its Papa-Terra projects. The company reported that wells PPT-52 and PPT-53 are on track for production in the second half of 2026. Specifically, well PPT-52 has been drilled, completed, and connected to the Papa-Terra FPSO, which is currently in the final commissioning phase. Well PPT-53 has finished horizontal drilling and has moved into the completion stage.

Despite a minor delay in the arrival of the Lone Star rig, the company stated that both the schedule and budget remain intact. Analysts from Bradesco BBI noted that these advancements reduce uncertainties regarding the production growth expected in the coming months, which is a key driver for investors following the integration of the company's assets. Additionally, management addressed the entry of Ecopetrol as a new controller, noting that while no strategic changes have been defined yet, the Colombian company's presence is expected to strengthen governance and operations.