(WO) – PetroTal’s Bretana 25H development well in Peru has reached a depth of 3,362 m, on schedule and in line with its pre-drill prognosis, the company said in its third-quarter update. The well was spudded on Sept. 21. It’s the first oil well in a renewed development drilling program meant to bring Bretana field production back to about 20,000 bpd by the end of the first quarter of 2027.
“The 25H well is the first oil well in the renewed development drilling program that we expect will return Bretana field production to approximately 20,000 bopd by the end of the first quarter of 2027,” said CEO Manuel Pablo Zuniga-Pflucker.
PetroTal is also adding waterflood support at Bretana, which sits in Block 95, where PetroTal holds a 100% working interest. After stimulation work on two water injection wells, the company injected an average of 187,000 bwpd in September, up 6% from August.
Group production averaged 11,797 bpd in the third quarter: 11,465 bpd from Bretana and 332 bpd from the Los Angeles field in Block 131. Year-to-date production averaged 13,076 bpd, about 3% ahead of the company’s internal budget. Unrestricted cash rose to $115.6 million at Sept. 30, from $105.3 million at the end of the second quarter.
On Oct. 1, PetroTal signed a technical evaluation agreement (TEA) with PeruPetro for Area CXVII in the Marañón basin. The TEA gives the company exclusive rights to evaluate the area for 24 months, which PeruPetro can extend by up to 12 months. It also gives PetroTal an option to negotiate license contracts directly. The work will be limited to desk studies:
- Reprocessing legacy 2D seismic
- Re-evaluating historical exploration wells
- Petroleum system modeling
The area contains two structures where legacy wells have tested oil. Both have potential in the Vivian formation, Bretana’s producing reservoir, and in the deeper Chonta formation, which produces oil in Blocks 8 and 192. Zuniga-Pflucker said the agreement provides “exclusive, low-cost access to evaluate two structures where legacy wells have tested oil.” PetroTal will report third-quarter results and an update on the 25H well on Nov. 9.
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