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

Aug 11, 2015, 09:25 ET from

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:  

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:


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