PetroTal Releases 2019 Oil Production Tallies

Jan. 13, 2020 06:36AM PST

Peru-focused energy company PetroTal has released its 2019 year-end production totals featuring 13,300 barrels of oil per day from the Bretaña oil field.

Peru-focused energy company PetroTal (TSXV:TAL,LSE:PTAL) has released its 2019 year-end production totals featuring 13,300 barrels of oil per day from the Bretaña oil field.

As quoted from the press release:

2019 OIL PRODUCTION

The company achieved 2019 exit rate production of 13,300 bopd and has averaged 12,500 bopd for the first eleven days of 2020. Average oil production from the Bretaña oil field for the fourth quarter was 7,757 bopd, a 77 percent uplift on the 4,382 bopd achieved during the third quarter of 2019. In 2019, PetroTal produced just over 1.5 million barrels of oil, representing average oil production of 4,131 bopd, an increase of over 330 percent from the average production of 958 bopd realized in 2018.

The 5H well continues to perform above expectations and has now produced 240,000 barrels of oil in its first 30 days of operation and is currently producing 6,500 bopd.