By Lucy Jordan, Contributing Reporter
BRASÍLIA, BRAZIL – Shares in Eike Batista’s oil and gas company, OGX Petroleo & Gas Participacoes (OGX), rebounded Monday after a rollercoaster week saw them drop by forty percent last Wednesday and Thursday, temporarily knocking some US$4 billion off the Brazilian billionaire’s personal fortune, according to calculations by Bloomberg.
OGX climbed fifteen percent to R$6.30 Monday, recouping R$0.80 in value following a severe decline last week, triggered when the company reported crude production in two wells that was as much as 75 percent lower than anticipated.
“The Company . . .
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