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 November.
(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) Frade Field had its production interrupted for 3 days due to two shutdowns as a result of a failure in the automation system. The Field is already producing normally.
(2) The interventions on the TBMT-2H and TBMT-8H wells, in Tubarão Martelo Field, were concluded and both wells resumed production by mid-November.
(4) 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.
Additionally, the Company purchased Brent put options to hedge against oil price fluctuations. The total hedged volume is approximately 3.4 million barrels at an average strike price of US$ 72.75 per barrel. The volume corresponds to 100% of the offtakes priced in January and 50% of the offtakes scheduled between February and April.