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Company reaches R$227 million in net profit, driven by increased production and operational efficiency; dividends total R$263,4 million.
PetroReconcavo started the year with solid results and consistent progress in its oil exploration strategy in onshore fields. In the first quarter of 2025, the company recorded a net profit of R$227 million, which represents a growth of 107% compared to the same period in 2024. The data was released this week and also shows an increase in production, operational gains and an increase in the distribution of dividends to shareholders.
The good performance reflects the direct impact of the drilling program initiated in the second half of last year, focusing on fields in the Northeast, especially the Tiê field, in Bahia, in addition to well maintenance and reactivation actions.
Production grows for the fourth consecutive quarter
In the first quarter, the average production reached 27,3 thousand barrels of oil equivalent per day (boe/day), which represents a high of 4% compared to the fourth quarter of 2024. This is the fourth consecutive quarter of growth, reinforcing the company's ability to increase its production in a stable manner.
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The increase is attributed to the accelerated pace of drilling and to the initiatives of workovers (maintenance and re-entry of wells), in addition to operational improvements implemented in production units.
Revenue and EBITDA also up
PetroReconcavo's net revenue for the period was R $ million 861, an increase in 16% compared to the same period in 2024. The EBITDA adjusted added R $ million 424 with 59% margin, indicating efficiency in cost management and operational profitability. EBITDA growth was 20% in the annual comparison.
A free cash generation reached R $ million 207, an advance of 45% compared to the fourth quarter from the previous year, strengthening the company's financial position for new investments and profit distribution.
Dividends reinforce shareholder returns
With the positive results, the board of directors approved the distribution of R$ 263,4 million in proceeds, the equivalent of R$ 0,90 per share, which represents a dividend yield of approximately 7% based on the company's current stock price.
This level of shareholder remuneration reinforces PetroReconcavo's commitment to generating sustainable and recurring value, even in the face of variations in international oil prices. oil and exchange rate.
PetroReconcavo's onshore operations gain prominence
PetroReconcavo's strategy remains focused on oil exploration and production in onshore areas, with a focus on mature assets acquired from Petrobras in recent years. The company is currently one of the main operators in the Brazilian onshore segment, with operations in the states of Rio Grande do Norte and Bahia.
According to the company's CEO, José Firmo, the quarter's results confirm the alignment between the company's strategic pillars:
“The increase in production and the consistency of results demonstrate the alignment between strategy, operations and capital. This is the reflection of a committed team that is prepared to continue delivering, even in challenging scenarios. We are increasingly consolidating ourselves as a reference in the Brazilian onshore sector.”
PetroReconcavo's outlook for the remainder of 2025
The company maintains its growth outlook throughout the year, with continuity in the drilling program, optimization of existing wells and strengthening of support infrastructure. The expectation is that the increase in production and stability in international oil prices will maintain operational and financial indicators at high levels.
PetroReconcavo also monitors opportunities to expand its asset base, whether through new auctions or acquisitions in the secondary market, focusing on high-productivity, low-operating-cost fields.
