Market Impact: Neutral. Petroamerica reported 3Q15 production of 3,655 bbl/d (FCC 3,250 bbl/d) and cash flow of US$3.5 mm (FCC US$0.7 mm). Production in 4Q15e of 2,912 bbl/d is tracking in line with our estimate of 2,950 bbl/d. While the 3Q15 results were better than expected, 3Q15 results are secondary to the arrangement agreement with Gran Tierra that is expected to close around the end of January 2016e.
27 Nov 2015
PETROAMERICA OIL CORP. (PTA) ANNOUNCES 3Q15 RESULTS
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PETROAMERICA OIL CORP. (PTA) ANNOUNCES 3Q15 RESULTS
Market Impact: Neutral. Petroamerica reported 3Q15 production of 3,655 bbl/d (FCC 3,250 bbl/d) and cash flow of US$3.5 mm (FCC US$0.7 mm). Production in 4Q15e of 2,912 bbl/d is tracking in line with our estimate of 2,950 bbl/d. While the 3Q15 results were better than expected, 3Q15 results are secondary to the arrangement agreement with Gran Tierra that is expected to close around the end of January 2016e.