Learn more about Hart Energy Conferences
Get our latest conference schedules, updates and insights straight to your inbox.
Brazilian state-run oil company Petrobras said on Oct. 24 that its crude oil production during the third-quarter fell 6.8% compared to the same period last year.
Petroleo Brasileiro SA, as the company is formally known, pumped 2.115 MMbbl/d in the July-to-September period, according to a Petrobras statement.
Brazil is Latin America's top oil and gas producer, ahead of other major regional petroleum suppliers Mexico, Colombia and Venezuela.
Including natural gas output, the Brazilian oil giant produced a daily average of 2.644 MMboe, down 6.6% from the same quarter last year.
The Rio de Janeiro-based company attributed the declining output to fewer barrels from its Atapu and Sepia fields, the stoppage of operations at its FPSO Capixaba unit as well as what it described as the "natural decline" of mature fields.
Around 73% of Petrobras output came from Brazil's so-called pre-salt fields, an oil-rich offshore region off the country's southeastern Atlantic coast.
In the same quarter last year, 71% of the company's oil production came from the same area.
Recommended Reading
SM Energy Declares Quarterly Cash Dividend
2024-03-26 - SM Energy’s dividend will be paid out on May 3 to stockholders on record as of April 19.
Matador Stock Offering to Pay for New Permian A&D—Analyst
2024-03-26 - Matador Resources is offering more than 5 million shares of stock for proceeds of $347 million to pay for newly disclosed transactions in Texas and New Mexico.
Par Pacific Asset-based Revolving Credit Bumped Up by 55%
2024-03-25 - The amendment increases Par Pacific Holdings’ existing asset-based revolving credit facility to $1.4 billion from $900 million.
California Resources Corp. Nominates Christian Kendall to Board of Directors
2024-03-21 - California Resources Corp. has nominated Christian Kendall, former president and CEO of Denbury, to serve on its board.
Crescent Point Energy to Rebrand as Veren Inc.
2024-03-21 - The company will seek shareholder approval for the change at its upcoming annual and special meeting of shareholders on May 10.