PetroTal Corp - Texas, US-based oil & gas development and production company - Says outperformed second quarter production guidance by 2% and first quarter production by 21%. Average production for second quarter 8,839 barrels of oil per day. Average production figure for first half of 2021 is 8,089 barrels per day, up from 6,936 barrels a year ago. Crude oil revenue for first half USD75.2 million, nearly double the USD39.7 million achieved a year ago. Swings to net income of USD42.6 million from loss of USD15.4 million. Revises guidance, now expects 2021 production in range of 10,000 to 11,000 barrels of oil per day from prior range of 11,000 to 12,000, but average Brent oil price now seen at USD67.30 per barrel, up from prior estimate of USD50.00. Expects full-year earnings before interest, tax, depreciation and amortisation of USD140 million to USD145 million, boosted from prior forecast of USD90 million.
Current stock price: 15.3 pence, up 2.9% on Thursday
Year-to-date change: up 9.3%
By Lucy Heming;Â lucyheming@alliancenews.com
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PetroTal (PTAL)