OGX starts output from second offshore Tubarão Martelo well

Reuters

RIO DE JANEIRO, Dec 9 (Reuters) - Brazil's Petróleo e GasParticipações SA, controlled by former billionaireEike Batista, started oil production from a second well in itsTubarão Martelo offshore field, according to a regulatory filingon Monday.

Output from the OGX-44HP well began on Saturday, the filingsaid. Petroleo e Gas Participações SA is the new name of OGXPetroleo e Gas Participações, the company said in a statementlate Friday.

Output from the field's first well, also in Tubarão Martelo,was announced on Friday.

Tubarão Martelo is considered OGX's last chance to generatecash and convince creditors to accept a reorganization planafter filing for bankruptcy on Oct. 30.

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