- PetroTal (TAL) has announced record average ten-day production of 10,050 bopd from well 10H
- The company also set new daily record production of 20,891 bopd on February 1, 2022
- It expects to receive government approval to increase production capacity by up to 6,000 bopd within the next week
- PetroTal is an oil and gas company developing assets in Peru
- PetroTal (TAL) is up by 15.25 per cent trading at $0.68 per share
PetroTal (TAL) has announced record average ten-day production of 10,050 bopd from well 10H.
The well, which commenced production on January 30, 2022, had a final cost of C$11.5M, which is 17 per cent under budget, and has already paid out over 45 per cent of its total well cost at $90/bbl Brent.
The company also set new daily record production of 20,891 bopd on February 1, 2022.
It expects final ministry approval around February 15, 2022, to increase its production capacity from 20,000 bopd to up to 26,000 bopd.
“We are extremely pleased from a technical standpoint at what this could mean for the future performance of PetroTal’s drilling inventory and are pleased to deliver a strong start to 2022 for shareholders,” stated Manuel Pablo Zuniga-Pflucker, PetroTal’s CEO.
PetroTal is an oil and gas company developing assets in Peru.
PetroTal (TAL) is up by 15.25 per cent trading at $0.68 per share as of 10:01 am EST.