PetroReconcavo Achieves 1.88% Production Growth in February, Bahia Assets Lead Performance
PetroReconcavo announced a 1.88% increase in oil production for February 2025, reaching an average of 27.3 thousand barrels of oil equivalent per day (boe/day).
The Brazilian independent oil producer continues its positive trajectory from January, which had already shown improvement over December 2024. The Bahia Asset demonstrated the strongest performance with 13.97 thousand boe/day, marking a 3.3% increase from January figures.
Production at this asset divided into 7.7 thousand barrels per day of petroleum and 6.3 thousand boe/day of natural gas. The company’s success stems from operations that began in 2000 through production contracts with Petrobras.
Meanwhile, the Potiguar Asset maintained stable production at 13.31 thousand boe/day compared to January. This stability reflects consistent operations across its 34 concessions, with petroleum accounting for 8.5 thousand barrels daily and natural gas contributing 4.8 thousand boe/day.
Despite production growth, PetroReconcavo delivered 749 thousand barrels of oil equivalent in February, representing a 4.57% decrease from January volumes. This reduction suggests inventory adjustments or logistical considerations during the period.
The company’s growth aligns with its strategic drilling program initiated in late 2024. These ongoing operations aim to enhance production capabilities through well maintenance and optimization across its asset portfolio.
Financial analysts project continued growth for PetroReconcavo throughout 2025. Market forecasts estimate net sales of R$3,690 million ($615 million) for 2025, representing a 12.59% increase over 2024 figures.
EBITDA projections stand at R$2,046 million ($341 million) with a healthy 55.46% margin. PetroReconcavo maintains focus on production optimization through strategic drilling and workover operations.
The company’s approach includes returning idle wells to production, reopening zones, drilling new wells, and upgrading surface facilities. This consistent strategy positions PetroReconcavo for sustained growth throughout the remainder of 2025.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error
LatAm Markets: Live Signals → — real-time movers, turnover leaders and FX across Latin America.
Read More from The Rio Times