- PetroTal (TAL) has accelerated deliveries to the Bayovar port allowing for a 720,000 barrel lifting in July
- After restructuring a sales arrangement with Petroperu, the sale will generate $60M in price-adjusted revenue for the company
- The revenue will ensure a timely execution of PetroTal’s shareholder strategy
- PetroTal is an oil and gas company developing assets in Peru
- PetroTal (TAL) is unchanged trading at $0.82 per share
PetroTal (TAL) has accelerated deliveries to the Bayovar port allowing for a 720,000 barrel lifting.
The lifting, to be executed in July, is made up of PetroTal’s Bretana oil, which travelled through Section II of the Northern Peruvian Pipeline (NPP) during a temporary re-opening.
After restructuring its sales arrangement with Petroperu, the sale will generate $60M in price-adjusted revenue for the company.
Petroperu has also informed PetroTal that it temporarily pumped all oil from Station 5 (approximately 550,000 barrels) to the Bayovar port. Section I of the NPP between pump stations 1 and 5 remains closed due to a maintenance delay from ongoing social protests.
“We applaud Petroperu’s efforts to resume partial pipeline operations in a safe and reliable way,” stated Manuel Pablo Zuniga-Pflucker, PetroTal’s CEO. “The true up revenue to be received from this tender was previously anticipated and will provide assurance that we can execute our shareholder strategy on time and as indicated in our corporate presentation.”
PetroTal is an oil and gas company developing assets in Peru.
PetroTal (TAL) is unchanged trading at $0.82 per share as of 9:30 am EST.
