April 6, 2020
Petro Rio S.A. (“Company” or “PetroRio”) (B3: PRIO3), following best practices in corporate governance and transparency, informs its preliminary and non-audited Operational Data for the month of March.
1. January figures account for a 70% stake in the Frade Field. The acquisition of the remaining 30% stake – announced on November 28, 2019 – will be integrated into the monthly report once the acquisition is concluded.
2. Manati has an annual take-or-pay agreement equivalent to 1,574 boepd with its customer, ensuring predictable cash flow generation.
3. Polvo’s increased production is due to the successful Drilling Campaign which took place in 2019/2020, as announced in a Material Fact on March 19, 2020.