1derrick_2015
9 years ago
Petrobras Hits Pay at Pitu North 1, Potiguar Basin
Petrobras has announced the successful results from Pitu North 1 (3-BRSA-1317-RNS) well, located in the deep-waters of the Potiguar basin, Brazil. The well is located in the BM-POT-17 concession, approximately 60 km from the state coast of Rio Grande do north, at a water depth of 1,844m...
For more, visit http://www.1derrick.com/petrobras-hits-pay-at-pitu-north-1-potiguar-basin/16985/
TOP1
11 years ago
Petrobras Argentina Heavily Undervalued Worth The Risk?
Vaca Muerta could ultimately reach 16 billion barrels of oil and 308 trillion cubic feet of gas
http://seekingalpha.com/article/1668652-petrobras-argentina-sa-heavily-undervalued-and-worth-the-risk
In 2011, the Argentine energy industry was shaken by two game-changing developments. First, YPF, S.A. (YPF), then a subsidiary of Spain's energy conglomerate Repsol, S.A., announced on November 7, 2011 a supergiant oil and gas field discovery in the Vaca Muerta shale formation in the province of Neuquén, Argentina. The US Energy Information Administration believes that total technically recoverable hydrocarbons from Vaca Muerta could ultimately reach 16 billion barrels of oil and 308 trillion cubic feet of gas.
The announcement caused the American Depositary Receipts (ADRs) of YPF, traded in the New York Stock Exchange, to shoot up 13.36%. The administration of Argentine President Cristina Fernández de Kirchner was however quick to throw cold water on the market's...
newey_to_the_block
11 years ago
Petrobras Argentina , along with the province of Neuquén provincial business and Gas y Petroleo del Neuquen SA ( P & L ) signed an agreement for the exploration and eventual exploitation of Parva Negra area .
The agreement provides for the drilling of four wells in shale gas in the Vaca Muerta formation , with an estimated $ 54 million investment.
Argentina Petrobras will be the operator with 85 % interest in the Joint Venture (JV ) and GyP have the remaining 15% for an exploration permit over the area for four years.
Among the activities in the province of Neuquén, Argentina Petrobras announced last Monday, the discovery of a productive oil accumulation in granting Rincón de Aranda, also within the Vaca Muerta Formation , at a depth of 2501 meters .
Moreover, last October , the company reported a successful well Mx- 1015, located in the area The Mangrullo , also in Neuquén, in the jurisdiction of municipalities and Cutral Huincul Co.
TOP1
11 years ago
Real Positive Beat On Numbers In Fourth Quarter Earnings Results Very Bullish
http://stks.co/i0HcP
Petrobras Argentina: Fourth Quarter 2013 Results
The following excerpt is from the company's SEC filing.
Petrobras Argentina?s net income for 2013 fourth quarter was a P$102 million gain. Petrobras Argentina?s net income for 2012 fourth quarter was a P$4 million gain.
Net income for 2013 quarter is attributable to operating income of P$151 million and positive financial income (expense) of P$55 million, partially offset by income tax charge of P$93 million and minority interest charge of P$11 million.
Oil sales increased 23% to P$1,762 million in 2013 quarter, mainly as a result of an improvement in average sales prices, partially offset by a decline in sales volumes as a result of a lower production derived from the natural decline of mature fields.
Gas sales increased P$104 million to P$384 million in 2013 quarter basically due to the rise in average sales prices, partially offset by a decline in sales volumes as a result of a lower production derived from the natural decline of mature fields.
* Gross profit increased P$248 million to P$697 million in 2013 quarter. The improvement in 2013 quarter is basically attributable to the 35% rise in average sales prices, partially offset by an 8% decline in sales volumes and an increase in the lifting cost. Gross margin on sales was 32% and 26% in 2013 and 2012 quarters, respectively.
As of December 31, 2013, Petrobras Argentina?s liquid hydrocarbon and natural gas proved reserves totaled 205 million boe (82.3 million barrels of oil and 736.8 billion cubic feet of gas).
As of December 31, 2013, total oil proved reserves (including crude oil, condensate and NGL) and total natural gas proved reserves of Petrobras Argentina were equal to 6 years of production, measured according to 2013 oil and gas production levels.
Liquid hydrocarbon and natural gas accounted for 40% and 60%, respectively, of total proved reserves. In addition, 86% of total proved reserves are located in Argentina.
* Sales in the Refining business unit rose P$529 million to P$2,305 million in 2013 quarter, mainly due to the recovery of refined products, partially offset by lower oil sales volumes.
Sales volumes of refined products totaled 523.2 thousand cubic meters in 2013 quarter and 515.9 thousand cubic meters in 2012 quarter.
* Gross profit rose P$94 million to P$201 million in 2013 quarter, with margins on sales of 8.7% and 6% in 2013 and 2012 quarters, respectively.
Styrenic products sales revenues increased P$202 million to P$690 million in 2013 quarter, mainly as a result of a 35% improvement in average sales prices and, to a lesser extent, a 6% rise in sales volumes.
* Gross profit totaled P$192 million in 2013 quarter and P$69 million in 2012 quarter, and gross margin on sales increased to 19% in 2013 quarter from 9.3% in 2012 quarter.
* Sales revenues increased P$166 million to P$563 million in 2013 quarter, mainly as a result of the improvement in sales prices.
Revenues from liquid fuel sales rose P$24 million to P$74 million in 2013 quarter, as a consequence of the increase in sales prices, partially offset by a decline in sales volumes.
Revenues from gas sales increased P$144 million to P$479 million in 2013 quarter, basically due to an improvement in average sales prices, partially offset by a decline in sales volumes to 261 million cubic feet per day in 2013 quarter from 267 million cubic feet per day in 2012 quarter.
* Gross profit rose P$13 million in 2013 quarter to P$102 million and gross margin on sales was 18% and 22% in 2013 and 2012 quarters, respectively.
* In 2013 quarter net sales for electricity generation decreased P$117 million to P$270 million, mainly as a consequence of regulatory changes in the Wholesale Electricity Market, retroactive to February 2013.
Sales volumes attributable to Genelba, Pichi Picún Leufú, Genelba Plus and Ecoenergía power plants totaled 1,079, 256, 311 and 22 GWh in 2013 quarter and 1,312, 199, 341 and 12 GWh in 2012 quarter, respectively.
* Gross profit totaled P$77 million in 2013 quarter and P$61 million in 2012 quarter, and gross margin on sales increased to 29% in 2013 quarter from 16% in 2012 quarter.
Gixene
11 years ago
TOP1, I can't decide that for you, only you can. I wish I could tell you the bottom of the dip also. Though looking at the Japanese Candlesticks, they are still showing it's bearish signals. There has been bullish candlesticks present themselves, but they are not confirmed. Until we see a bullish candlestick confirmed, we can expect a continued downtrend.
Good luck, Gulley