Petrobras (PBR) has made a new oil discovery in block FZA-M-59, off the coast of Amapa, Brazil, the company said Friday in a regulatory filing.

A new oil-bearing interval was found in the Morpho well at a water depth of 2,886 meters, during drilling to evaluate deeper exploratory intervals following a discovery made in August, according to a statement.

Petrobras said it will complete well-drilling activities and then evaluate the identified formations.

Price: 20.99, Change: +0.01, Percent Change: +0.05