Drilling disappoints and alert future auctions

Since 2017, Brazil has seen an increase in oil and gas auctions, but the first wells drilled by winners have disappointed, analysts at Wood Mackenzie (WoodMac), a global energy research and consulting group, told Reuters. The situation alerts the government to the next rounds, which have been postponed due to the pandemic.
Among the complications found in the wells are the discovery of a mixture of gas with carbon dioxide, a small amount of oil and a "dry" well, that is, without oil.

Perhaps the situation without major discoveries could lead oil companies to press for review of bid terms.

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