Prio’s September Oil Sales Quadruple to 3.72 Million Barrels

Prio, a leading Brazilian oil and gas company, achieved remarkable production figures in September 2024. The company reported an average output of 71,400 barrels of oil equivalent per day (boed).

This impressive performance came despite several operational hurdles faced during the month. The Campo de Frade field contributed significantly to Prio’s production, yielding 35,200 boed.

However, the field experienced a temporary setback due to maintenance on its offtake line. The company swiftly addressed this issue, resuming production on September 5th.

Prio’s Polvo and Tubarão Martelo fields collectively produced 10,700 boed in September. These fields encountered a challenge when a submersible centrifugal pump malfunctioned.

This failure affected three wells, with only one returning to operation by September 25th. The remaining two wells awaited approval from Ibama, Brazil’s environmental agency, to restart production.

The Albacora Leste field added 25,500 boed to Prio‘s total output for the month. A gas compressor failure temporarily impacted production at this site.

Technicians completed repairs by September 15th, allowing operations to return to normal levels. Despite these challenges, Prio’s oil sales skyrocketed in September.

Prio’s Oil Sales Surge Amid Production Declines

The company sold an impressive 3.72 million barrels of oil during the month. This figure represents a nearly fourfold increase compared to August’s sales of 954,800 barrels.

Looking at the broader picture, Prio’s third-quarter performance showed some fluctuations. The company’s average production for the quarter reached 70,200 boed.

This number reflects a 21.8% decrease compared to the second quarter of 2024. Similarly, oil sales for the third quarter totaled 6.52 million barrels, marking a 23.7% decline from the previous quarter.

These results highlight Prio’s resilience in the face of operational challenges. The company’s ability to maintain high production levels and significantly boost sales demonstrates its strong position in the Brazilian oil and gas sector.

As Prio continues to navigate the complexities of energy production, its performance in September 2024 serves as a testament to its operational capabilities and market adaptability.

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