The sabotaged Northern Peruvian Pipeline does not impede PetroTal’s record production. (Source: Shutterstock)
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
USD Completes Final Asset Sale of Hardisty Terminal
2025-04-13 - USD Partners was obligated to sell the Hardisty Terminal, in Alberta, Canada, after entering a forbearance agreement with its lenders on June 21 2024.
USEDC’s Plans for $1B in Capex, M&A on Track as Oil Prices Stumble
2025-04-11 - Volatility won’t affect Permian Basin-focused U.S. Energy Development Corp.’s day-to-day operations or its plans for deals, CEO Jordan Jayson told Hart Energy.
BP Forecasts Dip in First-Quarter Upstream Production
2025-04-13 - BP anticipates a quarter-over-quarter decline in upstream production when it reports earnings later this month.
The New Minerals Frontier Expands Beyond Oil, Gas
2025-04-09 - How to navigate the minerals sector in the era of competition, alternative investments and the AI-powered boom.
Q&A: Where There’s a Williams, There’s a Way for Gas
2025-04-09 - Midstream giant Williams Cos. leads the natural gas bulls on the great infrastructure buildout, President and CEO Alan Armstrong tells Hart Energy.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.