2023-03-30 03:49:28 ET
- PetroTal press release ( OTCQX:PTALF ): Q4 GAAP EPS of $0.04.
- Revenue of $63.8M (+62.8% Y/Y).
- Production and sales for the quarter averaged 10,374 and 10,420 bopd respectively.
- Generated Q4 2022 NOI and Adjusted EBITDA of $48.4 million ($50.51/bbl) and $36.3 million ($37.87/bbl), respectively, compared to $62.3 million ($55.58/bbl) and $84.2 million ($75.10/bbl), respectively, in Q3 2022 and $25.7 million ($38.61/bbl) and $11.9 million ($17.84/bbl), respectively, in Q4 2021.
- Capital deployed in Q4 2022 totalled $32.0 million, of which approximately 65% was allocated to drilling and completing wells 12H and 13H and commencing drilling on the Company's next water disposal well, 4WD.
- Outlook: On January 16, 2023, PetroTal announced a $125 million fully funded capital program that targets average production between 14,000 and 15,000 bopd in 2023 with possible river level upside allowing 17,000 bopd in the second half 2023. Under base case production guidance, EBITDA is projected to be $220 million using an $84/bbl average 2022 Brent oil price. This generates after-tax free funds flow of $55 million, strengthening total accessible cash in 2023 to $241 million prior to debt service.
For further details see:
PetroTal GAAP EPS of $0.04, revenue of $63.8M