An Update on Oil & Gas Production in June 2015 - Report on Petroleo Brasileiro Petrobras

Aug 11, 2015, 09:25 ET from www.aciassociation.com

NEW YORK, August 11, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Petroleo Brasileiro Petrobras SA (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/?c=PBR  

Highlights from our PBR Report include:

  • June Oil & Gas production data - On July 10, 2015, the Brazilian multinational energy corporation, Petroleo Brasileiro Petrobras SA (Petrobras) published oil and natural gas production data for June 2015. The Company's oil and natural gas production stood at 2 million 746 thousand barrels of oil equivalent per day (boed), in Brazil and abroad. As stated in the release, the production was 0.7% lower than the volume produced in the last month and 4.3% higher to the volume produced in the year-ago period.
  • Production data from Brazil - While elaborating on production details from Brazil, Petrobras said that a total of 2 million 553 thousand boed of oil and gas was produced from the region in June 2015, which reflected a 0.1% decline from the previous month's production. Further, Petrobras' exclusive oil production plummeted 1.1% to 2 million 88 thousand barrels of oil per day (bdp), compared to 2 million 111 thousand bpd in May 2015. Further, the Company informed that scheduled maintenance shutdowns for bigger quantity of platforms' in June caused such a reduction in the production. Meanwhile, the natural gas production in Brazil, excluding the liquefied volume, was 73 million 886 thousand m3/day in June, as against the whole production of 73 million 593 thousand bpd in May, marking a 0.4% uptick on a monthly basis.
  • Pre-Salt Production data - Petrobras achieved new production records in Pre-salt in June 2015. As stated in the press release, the Company achieved the pre-salt daily production of 811 barrels per day (bpd), on June 26, 2015, which was 1.1% higher than the last record achieved by the Company on April 11, 2015. Petrobras produced 802 million bpd on April 11. Additionally, in June 2015 the monthly operated production was at its best level at 747 thousand bpd, 2.9% higher than the volume of 726 thousand bpd achieved in May.
  • Production data from Abroad - Maintaining the good performance in Lucius e Saint Malo platforms, located in the Gulf of Mexico, in the United States, Petrobras produced 193 thousand barrels of oil equivalent per day (boed) from abroad, which was equivalent to the 192 thousand boed produced in May 2015. The Company further informed that the oil production was 102 thousand of barrels of oil per day (bpd), almost same to the level of 101 thousand bpd in the previous month, due to the performance of the aforementioned platforms.

To find out how this influences our rating on Petroleo Brasileiro Petrobras SA, read the full report in its entirety here: http://www.aciassociation.com/?c=PBR

--

About ACI Association: 

Active Charter Investors Association ("ACI Association") produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. ACI Association has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

ACI Association has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:  

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer"). Rohit Tuli, a CFA® charter holder (the "CFA®"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on sound investment judgment and publicly available information which is believed to be reliable. The Reviewer and the CFA® have not performed any independent investigations or forensic audits to validate the information herein. Unless otherwise noted, any content outside of this document has no association with the Author, the Reviewer, or the CFA® (collectively referred to as the "Production Team") in any way. The Production Team is compensated on a fixed monthly basis and do not hold any positions of interest in any of the securities mentioned herein.

NO WARRANTY 

ACI Association, the Author, the Reviewer and the CFA® (collectively referred to as the "Publishers") are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by the Publishers whatsoever for any direct, indirect or consequential loss arising from the use of this document. The Publishers expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, the Publishers do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING 

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither ACI Association nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.aciassociation.com/.

RESTRICTIONS 

ACI Association is not available to residents of Belarus, Cuba, Canada, Iran, North Korea, Sudan, Syria or Somalia. Do not send email to robottrap (at) aciassociation.com.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE www.aciassociation.com