Petroamerica previously reported 1Q15 production volumes of 4,587 bbl/d. The Company’s sales volumes were slightly less than production
at 4,544 bbl/d; however, cash fl ow of US$2 mm beat our estimate. The Company was able to show an improvement in operating and transportation costs, as well as G&A costs.
15 May 2015
1Q15 Results Benefi tted from an Improving Cost Structure
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1Q15 Results Benefi tted from an Improving Cost Structure
Petroamerica previously reported 1Q15 production volumes of 4,587 bbl/d. The Company’s sales volumes were slightly less than production
at 4,544 bbl/d; however, cash fl ow of US$2 mm beat our estimate. The Company was able to show an improvement in operating and transportation costs, as well as G&A costs.