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