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Petro Rio S.A. Announces 3Q18 Earnings

Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3) announces its 3Q18 earnings.

Quarter Highlights

  • Net Revenue of R$ 224.6 million, over twice that of 3Q17
  • Highest Operating Results in Company history: R$ 130.1 million
  • Highest ever adjusted EBITDA: R$ 107.1 million in 3Q18, vs. R$ 22.8 million in 3Q17
  • Highest contribution margin for Polvo since 2014 (U$ 33 per barrel)
  • Signing for the acquisition of 18.26% of Frade Field in October

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