By Brazil Stock Guide – Brazilian independent oil producers Prio and Brava Energia moved in opposite directions in May, with Prio reporting a monthly drop in production while Brava posted a modest increase as it continued to restart previously halted operations.
Prio produced 164,806 barrels of oil equivalent per day in May, down 5% from April, according to preliminary, unaudited data. The decline was mainly driven by the Valente cluster, which includes Frade and Wahoo, where output fell 13.4% after the company had to replace a gas-lift line at Frade. The issue temporarily shut three wells and cut production by about 7,000 barrels per day.
Prio said full production at Frade should resume by the end of June. At Wahoo, installation of the umbilical for the fourth well is underway, with first oil expected next week.
Brava, by contrast, reported average production of 80,920 barrels of oil equivalent per day in May, up 1.5% from April. Oil output averaged 62,599 barrels per day, while natural gas production reached 18,321 boe/d.
The increase was largely driven by the gradual restart of the Fazenda Belém cluster, which had been affected by the suspension of operations following an audit by Brazil’s oil regulator ANP in October 2025.
The contrast is important for investors. Prio’s May decline appears tied to short-term operational issues, while Brava’s numbers suggest a gradual recovery from a regulatory disruption. In both cases, June will be the key test: Prio needs Frade and Wahoo to normalize, while Brava needs the restart of Fazenda Belém to keep translating into higher output.
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