- PetroTal (TAL) is announcing average first-week production of over 8,000 bopd for Well 13H
- Total costs for the well came to $14.4 million
- Due to improving barging logistics, the company expects to raise overall production by mid-November
- PetroTal is Peru’s largest crude oil producer
- PetroTal (TAL) is up by 4.86 per cent, trading at $0.755 per share
PetroTal (TAL) is announcing average first-week production of over 8,000 bopd for Well 13H.
The well is located on PetroTal’s flagship Bretaña oil field in Peru.
PetroTal drilled 13H to a depth of 4,864 m, including a 1,152 m lateral section, making it the company’s longest horizontal well.
Total costs for the well came to $14.4 million.
Due to improving barging logistics, the company expects to raise overall production by mid-November. The current field production capacity is over 20,000 bopd.
Well 12H
PetroTal has begun drilling Well 12H at an approximate cost of $14 million, with completion slated for mid-December 2022. Well 13H was given priority to save time and costs related to skidding the rig to the corresponding cellar.
“We are pleased to announce the successful and productive 13H oil well, our longest horizontal well to date. We look forward to seeing the 12H well deliver similar results,” stated Manuel Pablo Zuniga-Pflucker, PetroTal’s President and CEO.
“We will continue to operate and develop our assets with prudent and safe operational practices that deliver best-in-class productivity for employees and shareholders,” he added.
PetroTal is an oil and gas development and production company focused on assets in Peru. In early 2020, the company became Peru’s largest crude oil producer.
PetroTal (TAL) is up by 4.86 per cent, trading at $0.755 per share as of 1:01 pm ET.
