PetroTal
Operations
Focused on Peru
Bretaña: Large Undeveloped Oil Field
Large oil field with recent first production
- 3D seismic acquired in 2014
- Five wells define structure and continuity of reservoir
- 100% oil production with nominal gas
- First production initiated in June 2018 on time and under budget
- Capex of $18.5 million to first oil – 25% under original budget
Development Plan in place
- Enhanced production from first well to 2,000 bopd in November following installation of oil well pump and water treatment and reinjection facilities
- Full development targeting plateau >20,000 bopd in 2022
- Infrastructure and export routes in place – established barging and pipeline route to tide-water market
Exploration upside on trend
- Additional development drilling should define Bretaña 2P recovery factor from 15% to management’s expected ~20%
- 5 exploration prospects / leads on trend with Bretaña