PetroTal has drilled the development well 25H in the Bretana field located in Peru, reaching a depth of 3,362 meters. This well commenced operations on September 21 and is progressing steadily and according to pre-drilling forecasts.
Production Target of 20,000 Barrels per Day
PetroTal has set a target to increase production from the Bretana field to approximately 20,000 barrels per day by the end of the first quarter of 2027. Manuel Pablo Zuniga-Pflucker, CEO of PetroTal, has stated that well 25H is the first oil well drilled in the redevelopment program that will contribute to this goal.
Support for Water Injection and Production Statistics
PetroTal has also focused on adding support for water injection in the Bretana field. This field is located in block 95, and PetroTal holds 100 percent of the operating rights. After conducting stimulation work on two water injection wells, the company injected an average of 187,000 barrels of water per day in September, which is a 6 percent increase compared to August.
PetroTal's production in the third quarter averaged 11,797 barrels per day, which includes 11,465 barrels per day from the Bretana field and 332 barrels per day from the Los Angeles field in block 131. Year-to-date production has averaged 13,076 barrels per day, which is approximately 3 percent above the company's internal budget.
Technical Evaluation Contract with ProPetro
On October 1, PetroTal signed a Technical Evaluation Agreement (TEA) with ProPetro for the CXVII area in the Maranon basin. This agreement grants exclusive rights for the evaluation of this area for a period of 24 months, with the possibility of extension by ProPetro for an additional 12 months. Additionally, PetroTal will have the option to negotiate licensing agreements directly.
This area includes two structures where old wells have tested for oil. Both structures have production potential in the Vivian formation, the Bretana production reservoir, and the Chunta formation, which produces oil in blocks 8 and 192. Zuniga-Pflucker has stated that this agreement provides exclusive and low-cost access for evaluating the two structures. PetroTal will report the results of the third quarter and an update on well 25H on November 9.
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