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IN BRIEF: PetroTal expects 24% increase in oil production in 2025

16th Jan 2025 14:28

PetroTal Corp - Calgary, Canada-based firm focused on oil and gas development in Peru -Targets average 2025 production of 21,000 to 23,000 barrels of oil per day, up around 24% on what it expects to report for 2024. The company had reported 2023 results in March 2024. Further, PetroTal aims to achieve annual earnings before interest, tax, depreciation and amortisation of USD240 million to USD250 million, up 6% from what it expects to report for 2024. Ebitda in 2023 was USD210.8 million.

Last week Thursday, the company had reported a healthy uptick in oil production as it aims to "continue to deliver" in the new year. PetroTal said corporate production averaged around 19,150 barrels of oil per day in the final quarter of 2024, up 26% from the 15,203 bopd it had reported for the third quarter. Further, it extended the current exploration period for block 107 to February 2027.

Current stock price: 40.00 pence each, up 1.3% on Thursday afternoon in London

12-month change: down 19%

By Tom Budszus, Alliance News slot editor

Comments and questions to [email protected]

Copyright 2025 Alliance News Ltd. All Rights Reserved.

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