Rio de Janeiro, June 08, 2021 - Petro Rio S,A, ("Company" or "PetroRio") (B3: PRIO3), following best practices in corporate governance and transparency, informs its preliminary and non-audited Operational Data for the month of May.
Daily Production (boepd)
Month
Polvo
Frade(1)
TBMT (80%)(2)
Manati (10%)(3)
Total
January
9,498
12,005
6,701
2,157
30,362
February
5,904
16,247
5,934
1,806
29,891
March
8,655
17,005
5,748
2,289
33,698
1Q21
8,019
15,086
6,128
2,084
31,317
April
8,157
15,716
5,698
1,982
31,553
May
9,353(4)
12,653(5)
5,703
2,304
30,013
Oil Offtakes (bbl)
Month
Polvo
Frade
TBMT
Total
January
-
-
-
-
February
514,794
1,020,846
392,072
1,927,712
March
-
-
-
-
1Q21
514,794
1,020,846
392,072
1,927,712
April
601,345
1,029,950
390,203
2,021,498
May
-
-
-
-
Obs:
Frade figures account for a 70% interest in the Frade Field until February 4 and 100% interest as of February 5, when the Company announced the closing of the acquisition of the remaining 30% interest.
Since February, Tubarão Martelo Field's production had a decrease of 1.4 kbbld due to a shutdown in the TBMT-8H well, as a result of a failure in the electric submersible pump (ESP), which operated since the beginning of the field's production. The Kingmaker rig was deployed to carry out a workover at the pump, expected to be concluded in mid- June.
On November 5, 2020, the sale of the 10% interest in the Manati Field held by PetroRio was announced, which awaits precedent conditions for the transaction's closing.
Polvo Field's production in May was restricted for 15 days due to water processing limitations at the Polvo FPSO. This FPSO, leased to the field and operated by BW, is expected to be decommissioned in July, after the conclusion of Polvo and Tubarão Martelo tieback.
Frade Field's production in May was impacted by a planned maintenance shutdown at the Frade FPSO, concluded on May 7th.
About PetroRio
PetroRio is the largest independent oil and gas Company in Brazil. The Company seeks to increase production through the acquisition
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of new producing assets, redevelopment, increased operational efficiency and rationalization of operating costs and corporate
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expenses. PetroRio's main objective is to create value for its shareholders with growing financial discipline and preserving its liquidity,
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with full respect for safety and the environment. For further information, please visit the Company's website: www.petroriosa.com.br.
+55 21 3721-2129
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Petro Rio SA published this content on 08 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 June 2021 21:30:07 UTC.
Prio SA, formerly Petro Rio SA is a Brazil-based holding company. It operates through its subsidiaries and specializes in efficient reservoir management and redevelopment of mature fields. The Company's main strategy is the acquisition of oil and gas fields, usually from large oil companies, and the creation of value through cost rationalization as well as efficiency and meticulous management of reservoirs. Prio SAâs assets include The Tubarao Martelo Field that produces approximately 10,000 barrels of oil per day through six wells interconnected to FPSO Bravo as well as Wahoo, an exploratory block in the Campos Basin with the potential to produce more than 125 million barrels in the pre-salt. The Company has several subsidiaries, such as Petro Rio O&G Exploracao e Producao de Petroleo Ltda and PRIO Bravo Ltda.