Page 15 - LatAmOil Week 38 2021

LatAmOil NEWS IN BRIEF LatAmOil

our position as one of the leading producers in anticipates sales to continue to the end of 2021
Vaca Muerta,” commented Miguel Galuccio, at average rates between 1,900 boepd and 2,400
Vista’s Chairman and CEO. “We are not only boepd. Assuming GLJ Ltd.’s July 1, 2021 com-
adding core assets to our existing portfolio, fur- modity price and a Brazilian Real exchange rate
ther enhancing our growth potential and share- of BRL5.25per US dollar for the remainder of the
holder value, but will also contribute our know year, we now expect to generate EBITDA of over
how in efficient developments, as well as safe and $23mn for 2021, a 15% increase from our prior
sustainable operations.” 2021 guidance of $20mn and a 35% increase
Since 2017, a total of six horizontal wells from our original 2021 guidance of $17mn.
have been drilled in this concession, all of which Alvopetro Energy’s vision is to become a
proved hydrocarbon production. Total produc- leading independent upstream and midstream
tion in Q2-2021 was 832 boepd. There were no operator in Brazil. Our strategy is to unlock the
proved reserves booked at year-end 2020. The on-shore natural gas potential in the state of
Company estimates there are up to 150 new well Bahia in Brazil, building off the development
locations (gross) to be drilled in this block. of our Caburé natural gas field and our strategic
Vista Oil & Gas, September 16 2021 midstream infrastructure.
Alvopetro, September 21 2021
FINANCE
MOVES
Alvopetro initiates $0.06 per

ConocoPhillips Argentina holds a 50% non-op- share quarterly dividend Petrobras comments on
erating interest in the Aguada Federal and Transpetro chairman’s
Bandurria Norte exploitation concessions. The Alvopetro Energy announces that our Board
Aguada Federal and Bandurria Norte exploita- of Directors has declared a quarterly dividend resignation
tion concessions are located in the Neuquina of $0.06 per common share, payable in cash on
Basin in the Province of Neuquén, Argentina, October 15, 2021, to shareholders of record on Petrobras informs that the Board of Directors of
covering a surface area of 24,058 and 26,404 September 29, 2021. This dividend is designated its subsidiary Petrobras Transporte (Transpetro)
gross acres (97.36 and 106.9 square km), respec- as an “eligible dividend” for Canadian income received a letter of resignation from Gustavo
tively, in the Vaca Muerta shale oil play. Each of tax purposes. Alvopetro’s cash flows are linked Santos Raposo as CEO of the company, with
the Assets has been awarded by the Province to US dollars and as such, dividends are being effect from September 24, 2021. Transpetro’s
of Neuquén with unconventional exploitation paid in US dollars. Board of Directors will deliberate on the nom-
concessions that expire in 2050, has no remain- Alvopetro has also given our lender notice of ination of Transpetro’s Service Director, Luiz
ing investment commitments and is operated an additional $1.0mn repayment of our credit Eduardo Valente, to take over as CEO of the
by Wintershall Dea Argentina, which holds facility that will bring the amount outstanding company, observing the governance of Petro-
the remaining 50% working interest in both under the loan to $6.5mn. bras’ nominations.
concessions. Corey C. Ruttan, President and CEO, com- Luiz Eduardo Valente has a degree in Chem-
Under the terms of the transaction, Vista mented: “We have had a long-standing objec- ical Engineering from the Federal University
made no upfront payment and assumed the tive of implementing a disciplined model of Rio de Janeiro (UFRJ) and a post-graduate
outstanding carry consideration amounting to that balances reinvestment in organic growth degree in Oil Processing Engineering from
$77mn, which, on July 24, 2019, ConocoPhillips opportunities with stakeholder returns. With UFRJ. He has an Executive MBA degree from
Argentina had agreed to pay to Wintershall by the repayment of over half of our initial debt Coppead (UFRJ). He started his career at Petro-
bearing 50% of Wintershall’s share in all capital project financing and with ongoing strong pro- bras in 1980, where he was General Manager of
expenditures corresponding to the Assets. At the duction and financial results, we are pleased to the Presidente Getúlio Vargas Refinery (REPAR/
date of this transaction, ConocoPhillips Holding be implementing quarterly dividends to our PR), Refining and Supply Technology (EDISE/
had approximately $5.9mn in consolidated cash. shareholders, six months ahead of our previous RJ), the Henrique Lage Refinery (REVAP/SP)
Concurrently, Vista and ConocoPhillips indication.” and the Nitrogen Fertiliser of Bahia factory
entered into an unsecured credit agreement, Capital Programme: In July, we commenced (FAFEN-BA). He was also Executive Manager
whereby ConocoPhillips shall make available construction on our 8.5-km Gomo/Murucututu for Gas-Chemistry and Liquefaction in the
to Vista, during a 24-month period, a loan for pipeline that will connect our 183(1) well to our Gas and Energy Section, Executive Manager of
a principal amount of up to $25mn, which shall Caburé transfer pipeline. Over 46% of the pipe Corporate HSE, and Executive Manager of the
accrue interest at LIBOR plus 2% per annum and has now been welded and 15% has been installed Industrial area. At Braskem, in which Petrobras
mature on September 16, 2026. and buried. We expect that construction will be is a shareholder, he was Project Director of the
Through this transaction Vista has acquired completed and the 183(1) well to be tied-in and Comperj Phase II Project and Vice-President of
25,231 net acres (102.1 square km), increasing on production early in 2022. Investment and Digital Technologies.
its total acreage in Vaca Muerta to 157,853 acres We also plan to drill our 182-C1 and 183-B1 Petrobras and the Transpetro Board of Direc-
(639 square km). The Company has also added natural gas exploration wells. Based on the sta- tors are grateful for the dedication of Gustavo
up to 150 new well locations to its Vaca Muerta tus of rig maintenance we do not expect to com- Raposo at the head of Transpetro, having car-
portfolio, totaling up to 700 identified new well mence drilling the first of these wells before the ried out important advances and restructuring
locations. end of November. within the company.
“This is a unique opportunity to strengthen 2021 EBITDA Guidance: Alvopetro Petrobras, September 21 2021

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