PRIO SA (BSP:PRIO3)
R$ 43.29 -0.010 (-0.02%) Market Cap: 35.28 Bil Enterprise Value: 52.08 Bil PE Ratio: 3.19 PB Ratio: 1.33 GF Score: 91/100
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Q1 2025 Prio SA Earnings Call Transcript

May 7, 2025 / 06:00 PM GMT
Release Date Price: R$35.73 (-3.35%)

Key Points

Positve
  • PRIO SA (PTRRY) successfully acquired a 60% stake in the Peregrino field, adding 200 million barrels of reserves to the company.
  • The company obtained environmental licenses to start drilling at the Wahoo Field and received approval for workovers at TBMT.
  • PRIO SA (PTRRY) reported a strong financial performance with a revenue of $700 million and a net income of $354 million.
  • The company has a healthy cash position of $700 million and a net debt to EBITDA ratio of 1.3 times.
  • Operational efficiency improvements were noted, particularly at the Albacora field, which achieved an efficiency of 88.8% in April.
Negative
  • The lifting cost increased to $12.8 per barrel, higher than the expected range of $11-$12, primarily due to Peregrino's integration.
  • Production was below expectations at 109,000 barrels per day, compared to the anticipated 115,000 barrels.
  • Challenges in operational efficiency were noted, particularly at the Albacora field due to compressor issues.
  • The Peregrino field operates with a high lifting cost of $18 per barrel, which the company aims to reduce.
  • There were delays in the commissioning process at Albacora, impacting production efficiency.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PRIO3.SA - Prio SA
Q1 2025 Prio SA Earnings Call
May 07, 2025 / 06:00PM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to Prius's first quarter 2025 video conference call. I am Jose Gustavo your manager and I will be your host in this event.

Want to follow us in English, there is simultaneous interpreting through the globe icon on the bottom of your screen. The translated presentation is available on our investor relations website. The comments on the results will be presented by our our CEO Roberto Montero, our CFO Milton Hajo, and our COO Francisco Fran Omar. After the presentation, they will be available during the Q&A session.

At this time, all participants are in listen and all the mode to ask written questions, you can use the Q&A button or you can use the zoom raise hand feature to ask life questions. This event is being recorded and
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