Koch Petroleum to acquire Brazil's ATP Petroleo SA

Koch Petroleum Group Inc., a subsidiary of Koch Industries Inc. of Wichita, Kan., will acquire ATP Petroleo SA, a Brazilian oil and natural gas exploration and production company, from a second Brazilian company, Paranapanema SA. The purchase price of the acquisition is not being disclosed, Koch said Wednesday.


Koch Petroleum Group Inc., a subsidiary of Koch Industries Inc. of Wichita, Kan., will acquire ATP Petroleo SA, a Brazilian oil and natural gas exploration and production company, from a second Brazilian company, Paranapanema SA.

The purchase price of the acquisition is not being disclosed, Koch said Wednesday. The acquisition allows Koch to establish an operating base through which it can grow its exploration business in Brazil, said Dale Schlinsog, president of Koch Exploration.

ATP Petroleo owns producing assets in northeastern Brazil's Rio Grande de Norte. Current production from these properties totals 500 boe/d from 35 producing wells on 33,000 acres of land. The acreage is covered through ATP Petroleo's agreement with Brazilian oil company Petroleo Brasileiro SA.

The acquisition is Koch's second international purchase this year. In March, it signed a production-sharing agreement with Staatsolie, the state oil company of the Republic of Suriname in South America. The 20-year contract with Staatsolie encompasses 140,000 acres in the Wayombo area onshore Suriname and focuses on heavy oil.

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