PetroRio 3Q, 2016 Results highlights

Highlights: Best Latin American E & P company award in 2016 by World Finance magazine; Campo do Polvo production of 771,563 barrels in the quarter, 13% higher than in 3Q15 and in line with 2Q16; Lifting cost (US $ 28.37 / bbl) in line with 2Q16 (historical low) and 26% lower than 3Q15; Adjusted EBITDA of R $ 15.0 million and net income of R $ 71.5 million; High operational efficiency (94.1%) despite the planned shutdown in September.

According to PetroRio’s management, “this strong result was the result of continuous operational efficiency, which kept costs in line with its historical low, and an agile and precise commercial strategy. In addition, we are proud to record another quarter without accidents with absence, extending the expressive 1,500 day mark reached on July 14, 2016.

The success of PetroRio is essentially due to an enterprising team of dedicated and creative people.”

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