By Brazil Stock Guide – PRIO SA (PRIO3 BZ) produced an average 192,563 barrels of oil equivalent per day in September, up 3.5% from 186,074 boepd in August, according to preliminary, unaudited operating data released Monday.
Average production in the third quarter rose to 191,622 boepd from 172,016 boepd in the second quarter, an increase of about 11.4%.
Peregrino, where PRIO reports an 80% interest, remained the company’s largest producing asset in September, with output of 82,381 barrels per day. The Valente Cluster, which includes Frade and Wahoo, produced 69,177 barrels of oil and 4,885 boe of gas per day.
Albacora Leste produced 23,040 barrels of oil and 199 boe of gas per day, while the Bravo Cluster, comprising Polvo and TBMT, produced 12,881 barrels per day.
New Frade Well Starts Production
A new producing well at Frade, MUP7, started operations on Sept. 5 with an initial flow rate of 5,000 barrels per day.
Production at Albacora Leste was affected by a scheduled partial shutdown for maintenance of the cooling system, with operations resuming on Sept. 3.
At the Bravo Cluster, production from the OGX-44HP well was temporarily halted because repairs were required on its production line.
Oil Sales Reach 5.43 Million Barrels
PRIO sold 5.43 million barrels of oil in September, compared with 5.38 million barrels in August. The Valente Cluster accounted for 2.39 million barrels, while Peregrino contributed 1.68 million barrels.
Sales from the Bravo Cluster totaled 873,025 barrels, while Albacora Leste contributed 486,276 barrels during the month.
Third-quarter oil sales totaled 17.15 million barrels, up from 15.25 million barrels in the second quarter. Peregrino accounted for 7.60 million barrels, followed by the Valente Cluster with 6.60 million barrels.
PRIO describes itself as Brazil’s largest independent oil and natural gas producer. Its strategy focuses on acquiring producing assets, redeveloping fields and improving operational efficiency while controlling production and corporate costs.
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