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 August.
(1) Frade figures account for a 70% interest in the Frade Field until February 4 and 100% interest as of February 5, when the Company announced the closing of the acquisition of the remaining 30% interest.
(2) Since February, the Tubarão Martelo Field’s production was reduced due to a shutdown in the TBMT-8H well, as a result of a failure in the electric submersible pump (ESP), which was in operation since the beginning of the field’s production. After the well’s cleaning, the workover was temporarily halted for the completion of the TBMT-10H well, that is being carried out by the Kingmaker rig, which will subsequently return to conclude the TBMT-8H workover.
(3) On November 5, 2020, the sale of the 10% interest in the Manati Field held by PetroRio was announced, which awaits precedent conditions for the transaction’s closing.
(4) After the tieback conclusion, as of July PetroRio holds the right to 95% of the oil produced in the new Polvo and TBMT cluster.
(4) In August, the Polvo Field’s production was impacted by the POL-012-R well workover, which was concluded in the first half of the month.