NEW YORK, September 11, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on Petroleo
Brasileiro S.A. - Petrobras (NYSE: PBR). Select highlights from
the internally released reports are being made available to the
general public (included below), with access to the entirety of the
research available to new members.
Today, membership is open to readers on a complementary basis at
the following URL:
http://www.aciassociation.com/reports?keyword=PBR
Highlights from our PBR Report include:
- Production Numbers at a Glance - On August 19, 2015, Petroleo Brasileiro S.A. -
Petrobras reported oil and gas production figures for the month of
July 2015. The Company reported
average oil and natural gas production of 2.796 million barrels of
oil equivalent per day (boed), which reflected an increase of 1.8%
from June 2015 production of 2.746
million boed. However, as compared to July
2014 production level of 2.699 million boed, the Company
clocked a y-o-y growth of 3.6%. The Company reported that on
July 08, 2015, it set a new daily oil
production record in the pre-salt layer of 865,000 barrels per day
(bpd), excluding natural gas extraction. Monthly production was
reported to be 798,000 bpd, 6.9% higher than the existing record
for June.
- Oil and Gas production in Brazil - Petrobras' total oil and natural
gas production in Brazil for the
month of July was 2.611 million boed as compared to June figures of
2.553 million boed, up by 2.3%. Oil production (not including
natural gas) reported was 2.142 million barrels (bpd), vis-a-vis
the 2.088 million bpd produced in June, up by 2.6% on a
month-on-month basis. The increase reflects new wells coming on
stream at platforms P-58, in the Parque das Baleias, and P-62, in
the Roncador field, both located in the Campos Basin; and on the
FPSO (Floating Production, Storage and Offloading unit) Cidade of
Mangaratiba, anchored in Iracema
Sul, in the Santos pre-salt basin. Natural gas production
for the month of July in Brazil,
excluding liquefied natural gas, was 74.524 million m³/day, up 0.9%
on the total production in June, which came in at 73.886 million
m³/day.
- Oil and Gas Production Abroad- For the month of
July, Petrobras produced 184,600 barrels of oil equivalent abroad.
This compares to the production of 192,700 boed in the month of
June, which indicates a decline of 4.2% on a month-on-month basis.
The fall in production can be basically attributed to the scheduled
shutdown of the platform in the Saint Malo field, in the
Gulf of Mexico. Oil production by
the Company in July was 95,900 barrels per day vis-à-vis 101,900
bpd produced in June, down 5.9% over the production figures for
June. The average production of natural gas was reported at 15.1
million m³/day versus 15.4 million m³/day for June, thereby falling
by 2% on a month-on-month basis.
To find out how this influences our rating on Petroleo
Brasileiro S.A. - Petrobras read the full report in its entirety
here: http://www.aciassociation.com/reports?keyword=PBR
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