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PetroTal Corp on Thursday expects 2025 oil production to continue the momentum built the previous year. The petroleum miner is targeting average production and sales between 21,000 and 23,000 barrels of oil per day in 2025. At the mid-point, that would represent a 24% rise from what was achieved in 2024. Production in 2024 rose to 17,733 bopd from 14,248 bopd the year prior. PetroTal expects to reduce the number of development wells to four from seven this year. The firm will also lower capital investment to $140 million, a 14% decrease from 2024. The company is targeting annual earnings before interest, taxation, depreciation and amortisation of $240millon to $250 million based on a $75.00 per barrel Brent oil price. The company has proposed a quarterly dividend of 0.15 US cents per share, unchanged year-on-year. Thursday’s guidance assumes current drilling at the Bretana project will wind down from late January. Estimates are also based on dry season river levels will be similar to those seen in 2023, which PetroTal described as ‘a slight improvement’ on 2024’s severe drought conditions. ‘PetroTal is well positioned to build on the operational momentum that we established in 2024. We are firmly committed to a consistent return of capital policy, while maximizing the value of the Bretana oil field. We are one of very few companies in the oil and gas sector that can support a stable dividend while growing output by more than 20% year after year,’ Chief Executive Officer Manuel Pablo Zuniga-Pflucker said. PetroTal shares rose 0.7% to 39.78 pence each on Thursday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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