- PetroTal (TAL) has announced a 30-day initial production rate for well 8H at over 7,700 bopd
- Based on ongoing performance and an expected US$45/bbl oil netback, the well should pay out in approximately 45 days
- PetroTal is an oil and gas development and production company focused on assets in Peru
- PetroTal (TAL) is up by 2.35 per cent and is currently trading at $0.435 per share
PetroTal (TAL) has announced a 30-day initial production rate for well 8H at over 7,700 bopd.
Total 30-day production was 231,000 bbls, surpassing management’s expectations.
Based on ongoing performance and an expected US$45/bbl oil netback, the well should pay out in approximately 45 days.
The company has also entered into additional put options with strike prices of $70/bbl Brent oil for approximately 25 per cent of its H1 2022 management production profile.
Manuel Pablo Zuniga-Pflucker, PetroTal’s President and CEO, stated,
“Well 8H is an example of a fantastic well performing at the most opportune time of the year, and it has also provided a wealth of reservoir data. We aim to continue delivering this type of operational quality in the future.
PetroTal is also pleased to provide an important liaison in ongoing community and government social agenda matters, promoting some of their key initiatives such as social profitability under a fair and just distribution of the central and regional government’s fiscal share.”
PetroTal is an oil and gas development and production company focused on assets in Peru.
PetroTal (TAL) is up by 2.35 per cent and is currently trading at $0.435 per share as of 12:48 pm ET.