It achieved average sales of 18,347 barrels of oil per day (bopd) and production of 18,518 bopd.
Petrotal, operator of Block 95, recorded the second best quarter in its history during the first three months of this year, in which it achieved an average sales of 18,347 barrels of oil per day (bopd) and production of 18,518 bopd.
"The first quarter of 2024 was almost a record for the company. Our cash flow was greater than expected in the projections, which gives us greater flexibility to plan the performance of the coming quarters," highlighted Guillermo Flórez, general manager of Petrotal. .
At the end of the first quarter, the company obtained outstanding results in terms of liquidity and very competitive operating costs. The general manager announced that, as is usual in the company, the projections for the year will be reviewed when the results of the first six months are available.
Capital expenditures (Capex) focused on drilling well 17H and infrastructure projects in the Brittany North field. In this period, three new horizontal wells were successfully drilled, two of them are already in operation with performance in line with the company's expectations.
He highlighted the recent announcement of the strategic transaction to acquire 100% of Cepsa Perú from its parent company Petrotal Corp. and, in this way, Lot 131.
“This agreement is highly strategic from an operational perspective with Lot 95 and due to its proximity to Lot 107, still in the exploration stage. “We are looking forward to adding it to our success story,” he emphasized.
On the other hand, he referred to the merger between Petrotal Perú and Petrolína Petroleum de Perú, which has the concession of Lot 107. “We are in the process of merging these two companies and being able to maximize the efforts focused on our strategic growth,” he indicated. .
Development projects
He highlighted that the implementation of the Development Fund for the District of Puinahua, which receives 2.5% of the value of the audited production of Lot 95, and currently has more than US$ 12.6 million, will be a reality with the implementation of the private trust where the funds will accumulate.
These resources, added to those that Puinahua receives from the oil canon, which to date exceed US$ 1.7 million and at the end of the year will be around US$ 5 million - thanks to the approval of the law that improves the distribution of this concept in Loreto - will allow the gaps in the district to be reduced.
In this way, he noted, essential development projects for Puinahua can be carried out, such as connectivity, health, education, productive infrastructure, among others, which will allow us to meet the most urgent demands of the population.
