Page 15 - LatAmOil Week 13 2021

LatAmOil NEWS IN BRIEF LatAmOil

“Given the vast changes in terrain, climate,
and ecosystems across the continent, oil and
gas companies in South America are in need of
a more sophisticated method of observing how
these surrounding forces affect their assets,” says
SkyX’s CEO & Founder, Didi Horn. “By working
with key partners, our aim is to provide the supe-
rior insights needed, so companies can safely
monitor changes in ground movement, observe
security concerns in hard-to-access areas and
identify other issues known to disrupt pipeline
operations.”
Channel partners, such as E’Kabel and
Servi Sud SRL, offer SkyX’s high-quality anno-
Touchstone announces “2020 presented significant challenges to the terrain models alongside existing Fiber Optic
Paul Baay, President and CEO, commented: tated imagery, orthomosaics, 3D models, and
year-end 2020 results wider oil and gas industry due to the impact of and Pipeline Inspection Gauge (PIG) solutions
respectively.
COVID-19 on working operations and the vol-
Touchstone Exploration has reported its operat- atile nature of global oil prices. It is against that “We are thrilled to be working with SkyX and
ing and financial results for the three months and backdrop that I am delighted to report another bringing their platform to our customers in oil
year ended December 31, 2020. year of significant progress at Touchstone in and gas,” says Marcelo Velasco, CEO, Servi Sud
2020 Highlights: Achieved annual crude which we have enhanced our financial position SRL. “Our customers are looking for innovative
oil sales of 1,392 barrels per day (bpd), a 24% significantly, encountered major natural gas dis- solutions to better inspect and monitor their
decrease relative to the 1,825 bpd produced in coveries as well as signed a historic long-term assets, so they can better identify and remediate
2019. As expected and consistent with 2019, natural gas sales agreement with the National ruptures and external threats to their pipelines.
our crude oil production has reduced due to Gas Company of Trinidad and Tobago. By working together, our goal is to help our
the ongoing impact of natural declines, reflect- “I would like to thank the entire team at customers reduce the number of incidents that
ing a strategic focus on our Ortoire exploration Touchstone for their dedication, perseverance occur and save costs in the long-run.”
programme which has limited development and flexibility during this difficult period which SkyX, March 30 2021
capital investment. Executed high-impact, inci- has enabled us to achieve such success. As a
dent-free $17,861,000 exploration programme, result of their hard work, the Company is very
primarily focused on drilling two gross (1.6 net) well positioned for another year of growth as LEGAL
wells. we move forward with our exploration, devel-
Despite limited capital and operational opment and production programme at Ortoire Petrobras comments
development asset investment and considerably and across the wider portfolio.”
lower crude oil pricing, generated funds flow Touchstone Exploration, March 26 2021 on Samsung leniency
from operations of $263,000 (2019: $6.84mn)
and an operating netback of $14.49 per barrel agreement
(2019: $26.61). Continued to focus on discre- TECHNOLOGY
tionary cost reductions, with operating costs Petrobras, following up on the release disclosed
on a per barrel basis decreasing by 12% and SkyX expands into Bolivian on January 3, 2021, informs that it received last
general and administration expenses declining week the second, and last, installment, in the
by 6% relative to 2019. Recognised a net loss of energy sector amidst amount of $59.4mn, of the leniency agreement
$11.03mn ($0.06 per share) compared to a net entered into by Samsung Heavy Industries. With
loss of $5.62mn ($0.04 per share) in 2019, driven growing demand for remote these values, Petrobras surpasses BRL5.7bn in
by $11.418mn in net impairment losses recorded funds recovered through collaboration, leniency
in the year predominantly based on lower fore- monitoring services and repatriation agreements. In 2020, the com-
casted crude oil pricing. pany received BRL797mn in reimbursement of
Established a $20mn term loan with a Trini- SkyX, a leader in aerial intelligence powered amounts related to Operation Car Wash.
dad based financial institution and successfully by autonomous long-range UAV solutions, is These reimbursements result from the condi-
accessed capital markets to continue our Ortoire announcing a new partnership with Servi Sud tion of victim of Petrobras in the crimes investi-
exploration programme, raising total net pro- SRL, a service provider for the energy industry in gated under Operation Car Wash. The company
ceeds of $39.2mn from two oversubscribed Bolivia, and the installation of an agent in Argen- will continue to adopt the appropriate measures
equity financings. Maintained financial flexi- tina . Since going to market, SkyX has experi- in search of adequate compensation for the
bility, exiting the year with cash of $24.281mn, enced increasing demand for its products and resulting losses that were caused. Petrobras is
a working capital balance of $12.933mn and services from major oil and gas companies in the co-plaintiff with the Federal Prosecutor’s Office
$7.5mn drawn on our $20mn term credit facility, region, fostering the need for channel partners. and the Federal Government in 21 pending
resulting in a net surplus of $5.433mn. SkyX has also signed a multi-year, multi-mil- administrative misconduct actions, in addition
Business continuity plans remain effective lion-dollar contract with a major oil and gas to being an assistant prosecutor in 76 criminal
across our locations in response to COVID-19 company in South America late last year, and cases related to illegal acts investigated by Oper-
with minimal health and safety impacts or dis- has existing reseller partnerships contributing ation Car Wash.
ruptions to production. to growth. Petrobras, March 24 2021

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