MoneyAM MoneyAM
 Home   Log In   Register   Our Services   My Account   Contact   Help 
 Stockwatch   Level 2   Portfolio   Charts   Research   Share Price   Awards   Indices   Market Scan   Company Zone   Traders' Room 
 Funds   Trades   Terminal   Alerts   Heatmaps   News   Stock Screener   Forward Diary   Forex Prices   Director Deals   Investors' Room 
 CFDs   Shares   SIPPs   ISAs   Forex   ETFs   Videos   Comparison Tables   Spread Betting   Broker Notes   Shares Magazine 
You are NOT currently logged in

 
Filter Criteria  
Epic: Keywords: 
From: Time:  (hh:mm) RNS:  MonAM: 
To: Time:  (hh:mm)
Please Note - Streaming News is only available to subscribers to the Active Level and above
 


PetroTal shares up as oil production and sales grow in first quarter

ALN

PetroTal Corp on Monday said its financial results remained ‘strong’ as oil production and revenue increased in the first quarter, despite a decline in the oil price.

The Peru-focused oil and gas development company said average production rose 26% to 23,281 barrels of oil per day in the first quarter of 2025 from 18,518 barrels a year before.

Oil revenue climbed 9.3% to $110.1 million from $100.6 million.

Total sales rose 26% to 2.1 million barrels in the first quarter from 1.7 million barrels a year prior.

The company noted the average Brent price fell 8.7% to $73.96 in the first quarter of 2025 from $81.01 in the first quarter of 2024 but was 0.7% higher than $73.42 in the fourth quarter of 2024.

Net income fell by 35% to $30.9 million from $47.6 million a year ago but was up 45% from $21.2 million on-quarter.

Earnings before interest, tax, depreciation and amortisation fell 1.0% to $70.8 million from $71.5 million a year ago, but was 80% higher than $39.4 million in the fourth quarter of 2024.

Chief Executive Officer Manuel Pablo Zuniga-Pflucker said: ‘Our financial results remain strong as well, with PetroTal showing healthy improvements in quarterly Ebitda and free cash flow. Notwithstanding the recent decline in oil pricing, we are continuing with preparations for some important development projects over the remainder of 2025, including erosion control. PetroTal has hedges on approximately 40% of its remaining 2025 production volumes and remains well-capitalised to execute its development program.’

PetroTal shares were up 7.5% to 33.06 pence each on Monday morning in London.

Copyright 2025 Alliance News Ltd. All Rights Reserved.