Page 16 - LatAmOil Week 45 2021

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the negotiation phase with the consortia led by
Petro Rio SA (PetroRio) for the two assets.
The company clarifies that, depending on the
terms of the contracts negotiated, there could
be a final round of offers. The conclusion of the
transaction will depend on the outcome of the
negotiations, as well as the necessary corporate
approvals. Petrobras reinforces its commitment
to the broad transparency of its divestment pro-
jects and the management of its portfolio and
informs that the subsequent stages of the project
will be disclosed in accordance with the compa-
ny’s Divestment System.
Petrobras, November 5 2021

The Safe Notos, a technologically advanced and our highest quarterly operating netback since FINANCE
efficient Dynamically Positioned (DP3), harsh Q1-2019 and a 97% increase relative to Q3-2020.
environment semi-submersible safety and main- Reported funds flow from operations of GeoPark to pay quarterly
tenance support vessel, can accommodate up to $1.073mn versus $192,000 in Q3-2020. Recog-
500 persons with extensive recreation facilities. nised a reduced net loss of $51,000 compared to cash dividend, renew share
In addition, with a large capacity open deck area a net loss of $703,000 in the same period of 2020.
and telescopic gangway, the Safe Notos provides Exited Q3-2021 with a cash balance of $5.004mn repurchase programme
Petrobras with 300-tonne lift capability. and $7.5mn drawn on our term credit facility.
Jesper Kragh Andresen, CEO of Prosafe, says: Successfully aided in exporting a third-party GeoPark, a leading independent Latin American
“Prosafe is pleased that once again the Safe Notos drilling rig to Trinidad, with developmental oil and gas explorer, operator and consolidator
has been extended by Petrobras demonstrating drilling operations commencing on our WD-4 with operations and growth platforms in Colom-
her continued value in supporting their offshore block on early October 2021.Exploration opera- bia, Ecuador, Chile, Brazil and Argentina, today
operations.” tions proceeded in the third quarter, with Coho announced its Board of Directors has declared a
Prosafe, November 5 2021 natural gas facility and pipeline construction quarterly cash dividend of $0.041 per share, pay-
operations continuing towards targeted pipe- able on December 7, 2021, and the renewal of the
line commissioning in the first quarter of 2022, share repurchase programme for up to 10% of
PERFORMANCE as well as the completion of the design of the its shares outstanding until November 10, 2022.
Cascadura natural gas facility. Quarterly Cash Dividend: The Board of
Touchstone Exploration “Our third quarter results reflect the focused of $0.041 per share ($2.5mn in the aggregate)
Paul Baay, President and CEO, commented: Directors has declared a quarterly cash dividend
announces Q3-2021 results work the team has done on maintaining base payable on December 7, 2021, to the sharehold-
ers of record at the close of business on Novem-
production with minimal expense while exe-
and operational update cuting a safe capital programme at Ortoire. ber 23, 2021.
The higher reported operating netbacks have
Renewal of Share Buyback Programme:
Touchstone Exploration reports its operat- resulted in strong cash flow for the quarter which GeoPark concluded its 2020-2021 share repur-
ing and financial results for the three and nine help fund our ongoing capital programme while chase programme on November 10, 2021, with
months ended September 30, 2021. Selected we move closer to first production from Coho, 692,707 shares acquired, and a total amount
information is outlined below and should be which is forecasted to effect a step change in our invested of $8.5mn, including transaction costs.
read in conjunction with Touchstone’s Sep- financial performance.” The Board of Directors has approved the
tember 30, 2021 unaudited interim condensed Touchstone Exploration, November 11 2021 renewal of the repurchase programme for up
consolidated financial statements and related to 10% of shares outstanding or approximately
Management’s discussion and analysis, both of 6.074mn shares, expiring on November 10,
which will be available under the Company’s INVESTMENT 2022. The share repurchases may be made from
profile on SEDAR and the Company’s website. time to time through open-market transactions,
Third-Quarter Operational and Financial Petrobras comments on block trades, privately negotiated transactions or
Highlights: Achieved quarterly average produc- otherwise, and are subject to market and busi-
tion volumes of 1,333 bpd, a 2% increase relative divestment of Albacora ness conditions, levels of available liquidity, cash
to the 1,310 bpd produced in Q3-2020. Despite requirements for other purposes, regulatory
continuing COVID-19 challenges in Trinidad, and Albacora Leste considerations and other relevant factors.
executed an incident free $7.542mn exploration As detailed in our 2022 Work Programme
programme, highlighted by the drilling of the Petrobras, following up on the release disclosed and Investment Guidelines, GeoPark plans to
Royston-1 exploration well and completion of on 10/07/2021, about the divestment project deliver another year of strong operational and
the Royston area seismic programme. of the Albacora and Albacora Leste fields, in financial performance and free cash flow gener-
Realised petroleum sales of $7.65mn from an the Campos Basin, informs that its Executive ation while remaining committed to returning
average crude oil price of $62.37 per barrel. Gen- Board concluded the analysis of the proposals value to its shareholders.
erated an operating netback of $27.77 per barrel, received and, yesterday, it approved the start of GeoPark, November 10 2021

P16 www. NEWSBASE .com Week 45 11•November•2021