PRIO (PRIO3) reported a 4.4% decline in May oil production, with output at 88.7 thousand barrels per day, down from the previous month.
Moreover, the first quarter saw the company producing 88.3 thousand boepd.
The temporary closure of the ODP3 well in the Frade Field, awaiting environmental license for maintenance, has affected production.
Additionally, a malfunction in the submersible centrifugal pump ceased operations at the TBMT-8H well in the Polvo and Tubarão Martelo cluster.
Last week, Bradesco BBI updated its 2024 production forecast for PRIO from 99 thousand to 90 thousand barrels per day.
This revision notes lower production, delayed Wahoo field exploration due to a strike, and well reactivations in Albacora Leste and Polvo fields.
GetNinjas Announces Corporate Restructuring
On Wednesday, GetNinjas (NINJ3) announced Board approval for a partial spin-off to boost operational and structural efficiency.
The plan will transfer assets to Reag Trust, a subsidiary, with a shareholder vote scheduled for June 26 at an Extraordinary General Meeting.
Additionally, if shareholders approve, the shareholding composition of Reag Trust will mirror that of GetNinjas.
Lastly, the number of issued shares will remain unchanged, maintaining equity balance.
Ecorodovias Maintains Lease of Ecoporto
Ecorodovias (ECOR3) secured approval to extend Ecoporto Santos’s lease for another 180 days, as announced Wednesday.
The Santos Port Authority approved the extension for additional analysis of Ecoporto Santos’s investment plan for lease renewal.
This extension will continue supporting Ecoporto Santos’s operations, spanning 136.4 thousand square meters on Santos port’s right bank.
Importantly, the terms and obligations of the lease will remain unchanged, ensuring operational continuity.
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error
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