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Alliance News) - PetroTal Corp on Tuesday reported ‘steady production growth’ in 2025 so far, with oil output continuing to rise in the third quarter. During the three months that ended September 30, the Calgary, Canada-based firm said it produced 18,414 barrels of oil per day, up 21% against 15,203 boepd the previous year. Year-to-date oil output averaged 20,894 bopd at the end of September, also about 21% higher on-year, PetroTal said. The Bretana field in Peru accounted for most third-quarter production, contributing an estimated 17,938 bopd, while the Los Angeles field produced about 476 bopd. PetroTal noted that production at both fields was lower on-quarter, though Bretana still produced more oil on-year. The Peru-focused oil and gas firm acknowledged that Bretana ‘has been producing below capacity since mid-August,’ with tubing leaks leading to the shut-in of five wells. ‘As a result, corporate production during the first ten days of October has averaged approximately 16,000 bopd,’ PetroTal noted. The company is planning an oil pulling campaign to restore production from the shut-in wells by the end of the month, followed by a ramp-up to the end of the year. PetroTal’s full-year average production outlook remains unchanged, between 20,000 and 21,000 bopd. Its shares traded 0.3% higher at 33.00 pence on Tuesday afternoon in London. The firm said it ended the third quarter with $108.8 million in unrestricted cash, up from $99.3 million at June 30 and down from $121 million on-year. PetroTal is preparing to import its owned drilling rig to Peru, as it aims to resume development drilling at Bretana in the second quarter of 2026. PetroTal is currently assessing the results of a workover campaign at its Los Angeles field. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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