Petroreconcavo SA (BSP:RECV3)

Q1 2025 Petroreconcavo SA Earnings Call (English, Portuguese) Transcript

May 9, 2025 / 02:00 PM GMT

Release Date Price: R$14.21 (+5.49%)

Transcript

Key Points

Positve

Petroreconcavo SA (BSP:RECV3) reported a record net revenue increase of 16% year-over-year and 2% quarter-over-quarter.
The company achieved a significant free cash generation of 207 million, marking a 45% increase from the previous quarter.
A distribution of 263 million riads to shareholders was announced, translating to a 90% per share yield with a 7% dividend yield.
The average production increased for the fourth consecutive month, reaching 27.8 barrels per day.
Petroreconcavo SA successfully completed the third deep drilling, setting a new depth record of 3,630 meters, indicating strong operational capabilities.

Negative

The crude oil net revenue was negatively impacted by stock issues in Rio Grande do Norte, resulting in a 20 million riads impact.
There was an 11% increase in royalties due to rising production and reference prices, affecting overall costs.
Despite improvements, the lifting cost remains a challenge, with a current cost of $13.9 per barrel.
The company faces logistical challenges in Bahia, requiring ongoing development of distribution alternatives.
Petroreconcavo SA's future production plans are contingent on maintaining current production levels and market conditions, which remain uncertain.

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

RECV3.SA - PetroReconcavo SA
Q1 2025 Petroreconcavo SA Earnings Call (English, Portuguese)
May 09, 2025 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning everyone. I thank you very much for waiting until we opened up. I am Adle Noguera. I take care of the investors department. This is Your first quarter of 2025 presentation will be presented by Josephirmo and then Rafael Toarcy, and then we are going to have a Q&A session with our executive board.

We kindly ask the questions to be sent to PERR along with the name.

So that we can read all the questions in the end microphones are not going to be allowed. This is going to be broadcast over the internet and then it's going to be available in our investors relations website. We once again would like to say that all.

The declarations in regard to the business plan, forward

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