Petrotal's Bretana suffers leaks in production tubing

Executive Summary

• Petrotal Corp. reported that Bretana field output was temporarily impacted by technical issues, specifically leaks in production tubing, resulting in four wells being shut in.
• Group production averaged 18,805 barrels of oil per day (bopd) in Q3 2025, with a notable dip to approximately 16,750 bopd in the first two weeks of September due to the shutdowns.
• The company expects to restore production by mid-November after mobilizing a service rig to replace tubing, with the total impact on 2025 annual average production estimated at less than 1,000 bopd, leaving the 20,000–21,000 bopd guidance unchanged.

Key Details

• Current Production Metrics:
  • Q3 2025 Group Production Average: 18,805 bopd.
  • Bretana Field Contribution: ~18,325 bopd.
  • Los Angeles Field Contribution: 479 bopd.
  • First Two Weeks of September Average: ~16,750 bopd.
  • Year-to-Date (as of Sept 15, 2025): ~5.47 million barrels, averaging 21,135 bopd.
• Technical Issues:
  • Four wells at the Bretana field are currently shut in due to leaks in production tubing.
  • Six wells were identified with tubing leaks during an investigation into previous pump failures (Dec 2024–Feb 2025).
  • Previous pump replacements were completed by mid-July 2025, briefly boosting production over 21,000 bopd.
• Remediation Plan:
  • Service rig mobilization: Moving to Bretana by the end of October.
  • Pulling operations to replace tubing: Expected to begin by the end of October.
  • Production restoration: Expected to return throughout November.
  • Current workover campaign at Block 131 to be completed by the end of September.
• Financial/Operational Impact:
  • Estimated impact on 2025 annual average production: Less than 1,000 bopd.
  • 2025 Production Guidance: Unchanged at 20,000 to 21,000 bopd.
  • Next Updates: Regular quarterly operations update in early October; Q3 2025 financial results in mid-November.

Notable Quotes

• "While we are disappointed to have experienced some production reliability issues at Bretana in 2025, I would like to assure our shareholders that we are working to address these matters as quickly as possible. Our assets are located in a remote environment, and, unfortunately, it takes time to mobilize equipment to the field." — Manuel Pablo Zuniga-Pflucker, President and CEO