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Petro Rio S.A. HRTPF

"Petro Rio SA is engaged in exploration and production of oil and gas in Brazil and abroad. The Company is currently engaged in the hydrocarbon production in Polvo field."


GREY:HRTPF - Post by User

Post by Deboraon Aug 27, 2014 9:32pm
212 Views
Post# 22884596

Continued

Continued
While not go shopping, HRT has plans to extend the life of your single field into production, which is already mature and whose reserves must be exhausted in two years. Other reservoirs were identified in the concession area and the plan now is to drill new production wells. To reduce spending, the initial idea is to access a well drilled five years ago. Estimated that HRT may lower spending on drilling for $ 25 million, with an estimated cost of $ 5 million for each intervention in the wells, which increase the yield. Drilling a well can cost in the region of $ 60 million to $ 100 million.
"This program already exists and is a success. Polvo [the Polvo field in the Campos Basin] have extended life, since other reserves have been identified. This was the way [to increase the productive life of the field] adopted in the North Sea and certainly serves to Brazil, "he says.
Eduardo Jacome, director of management and investor relations HRT, do the math and comes to a gross revenue of R $ 2.5 billion when he mentions the opportunities that HRT has to grow to achieve triple current production to the track 30 barrels. That will only come, obviously, with the acquisition of assets that enable this level of production.
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