The BN95-4H horizontal well delivered an initial flow rate of 6.2 mbbl/d, exceeding management’s expectations. The well was c. US$3 mm (20% of well cost) under budget. Current production at Bretana is c. 7.8mbbl/d following interim upgrades to the production facilities. At the end of September the company held US$40 mm of working capital. PetroTal produces 4.8 mbbl/d in 3Q19, in line with our expectations of 5.0 mbbl/d.
21 Oct 2019
FLASH: Another very good operating update
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FLASH: Another very good operating update
PetroTal Corp. (PTAL:LON) | 48.2 -0.4 (-1.5%) | Mkt Cap: 441.6m
- Published:
21 Oct 2019 -
Author:
Stephane Foucaud -
Pages:
2
The BN95-4H horizontal well delivered an initial flow rate of 6.2 mbbl/d, exceeding management’s expectations. The well was c. US$3 mm (20% of well cost) under budget. Current production at Bretana is c. 7.8mbbl/d following interim upgrades to the production facilities. At the end of September the company held US$40 mm of working capital. PetroTal produces 4.8 mbbl/d in 3Q19, in line with our expectations of 5.0 mbbl/d.