3R Petroleum, Operating in the Macau, Areia Branca, and Rio Ventura Poles, Ended 2021 with a 13.5% Increase in Oil and Gas Production

In The Fourth Quarter Of Last Year, 3R Petroleum Increased Oil And Gas Production

The year 2021 ended very positively for the independent oil company 3R Petroleum. The company publicly declared today, January 12, that its oil and gas production in the fourth quarter of last year totaled 7,560 barrels of oil equivalent per day. This amount represents a 13.5% increase compared to the previous quarter (6,659 barrels of oil equivalent per day).

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If only the data from December is considered, 3R’s production reached 7,851 barrels of oil equivalent per day, almost in line with the production recorded in November. 3R Petroleum operates in the Macau, Areia Branca, and Rio Ventura Poles and holds a 35% stake in the Pescada Pole (operated by Petrobras).

Increase In Production At 3R Petroleum’s Poles

At the Macau Pole, the average daily production of oil and gas in December was a total of 5,949 barrels of oil equivalent per day. At this pole, 3R Petroleum observed that its production grew by 4.6% in the last quarter of the year compared to the third quarter, increasing from 5,341 barrels of oil equivalent per day to 5,591 barrels of oil equivalent per day. Meanwhile, the Areia Branca Pole had total production of 463 barrels of oil equivalent per day in December.

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In contrast to the other two poles, the Rio Ventura Pole experienced an 11.3% drop in production for the month of December, totaling 1,013 barrels of oil equivalent per day. Considering the last year’s quarter, the amount produced at the pole was a total of 1,090 barrels of oil equivalent per day between October and December. Meanwhile, at Pescada, the amount corresponding to 3R totaled 426 barrels of oil equivalent per day in December and 411 barrels of oil equivalent in the last quarter of 2021.

“Production data related to 100% of the Fazenda Belém Pole, 100% of the Recôncavo Pole, 70% of the Peroá Pole, and 43.75% of the Papa-Terra Pole will be incorporated into this report as soon as the transition processes with Petrobras are completed and approved by the ANP,” said 3R’s financial director, Rodrigo Pizarro, in a statement made to the market.

3R Petroleum Acquires Complementary Stake In The Sanhaçu Field, In The Potiguar Basin, In Rio Grande Do Norte

3R Petroleum has completed the acquisition of the 50% stake held by Galp in the Sanhaçu field, located in the Potiguar Basin, in the State of Rio Grande do Norte. The action was performed on December 21, 2021, through its wholly-owned subsidiary 3R Macau, after approval by the National Agency for Petroleum, Natural Gas, and Biofuels (ANP) and the Administrative Council for Economic Defense (CADE).

The Sanhaçu field is part of the Macau Pole, whose operation has been managed by 3R Macau since May 2020. With the transaction completed, 3R Macau has now fully acquired the concession rights for all fields that make up the Macau Pole: Lagoa Aroeira, Macau, Porto Carão, Salina Cristal, and Sanhaçu. The total amount of the deal was US$ 6.0 million and does not consider any potential adjustments. Check out this article by clicking here.