Nov. 6 – PetroReconcavo reports a net profit of R$ 121.9 million in the third quarter of 2025 (Q3 2025), a 23% decrease year-over-year.
The lower profit followed a 2% decrease in net revenue, which stood at R$ 786.3 million.
PetroReconcavo’s average production was 26,400 barrels of oil equivalent (“boe”) per day, a 3% decrease compared to the previous quarter.
The weaker dollar and the decline in oil prices also impacted net revenue.
On the operational side, the average production of the Bahia Asset was 13,500 boe per day in the quarter, a 3% decrease year-over-year. “This effect stems from the accelerated decline in the Tiê field, partially offset by the increase in the Miranga and Remanso fields,” explains the oil company in the document published on Thursday night (6).
In the Potiguar Field, average production was 12,900 boe per day, a 6% decrease — which PetroReconcavo explains by the absence of new completions during the period.
The company also sold the barrel, on average, for US$ 59.46, a value well below that achieved a year earlier, of US$ 73.50.
Total costs and expenses amounted to R$ 384.3 million, a 3% increase year-on-year, with emphasis on higher spending on services and materials.
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) was R$ 350 million, a 20% decrease year-on-year.
Finally, PetroReconcavo also recorded a negative financial result of R$ 8.9 million, compared to a positive balance of R$ 40.3 million in Q3 2024.
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