Houston-based PetroTal, an E&P focused on Peru, reported record production in the second quarter despite the closure of a pipeline that has been subjected to repeated attacks.
PetroTal produced 19,031 bbl/d in the quarter, bolstered by production from its newly drilled 15H well. The well averaged about 7,300 bbl/d during its first 25 days of production. Early in the quarter, the company’s 14H well came online with a recent rate of about 2,300 bbl/d.
Production was cut by 25% in the quarter due to the ongoing closure of the Northern Peruvian Pipeline, as well as six days of planned maintenance. PetroTal has moved its oil through Brazil during the closure. The pipeline was cut in more than 50 points in 14 attacks in 2022. Prosecutors have not indicated who is responsible for the attacks.
The company is refocusing its drilling to two wells in the Bretaña region. It expects to begin drilling its 16H well late in the third quarter as long as oil prices support production.
The company also appointed Felipe Arbelaez Hoyos to its board. Arbelaez Hoyos is senior vice president of hydrogen and carbon capture systems for BP Energy.
Recommended Reading
Venture Global Gets FERC Nod to Process Gas for LNG
2024-04-23 - Venture Global’s massive export terminal will change natural gas flows across the Gulf of Mexico but its Plaquemines LNG export terminal may still be years away from delivering LNG to long-term customers.
US Republican Attorneys General Sue to Stop EPA's Carbon Rule
2024-05-09 - The rule, finalized by President Joe Biden's administration last month as part of an effort to combat climate change, was challenged in three lawsuits filed in the U.S. Court of Appeals for the District of Columbia Circuit.
BWX Technologies Awarded $45B Contract to Manage Radioactive Cleanup
2024-03-05 - The U.S. Department of Energy’s Office of Environmental Management awarded nuclear technologies company BWX Technologies Inc. a contract worth up to $45 billion for environmental management at the Hanford Site.
Belcher: Our Leaders Should Embrace, Not Vilify, Certified Natural Gas
2024-03-18 - Recognition gained through gas certification verified by third-party auditors has led natural gas producers and midstream companies to voluntarily comply and often exceed compliance with regulatory requirements, including the EPA methane rule.
CERAWeek: Energy Secretary Defends LNG Pause Amid Industry Outcry
2024-03-18 - U.S. Energy Secretary Jennifer Granholm said she expects the review of LNG exports to be in the “rearview mirror” by next year.