Rio de Janeiro, May 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 April.
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. The reduction in Manati’s production is due to less demand from the client (Petrobras). Manati enjoys an annual take-or-pay agreement equivalent to 1,574 boepd with its client, ensuring a more predictable cash flow.
3. Polvo’s increased production is a result of its successful Drilling Campaign which took place in 2019/2020.