PetroTal shares soared 13.6% to 47.1p in late afternoon trading on Thursday, after the firm announced its seventh consecutive quarter of production growth.
The company reported a record of almost $100 million generated in net operating income in Q2 2022, against $29.6 million in HY1 2021.
PetroTal confirmed crude oil revenues of $118.4 million from $42.8 million, along with a net income of $84.2 million compared to $11.3 million the last year.
The energy firm highlighted an EBITDA of $93.4 million compared to $29.7 million.
PetroTal reached record quarterly production of 14,467 bopd, alongside quarterly sales of 14,616, representing a 25% growth and 5% slide, respectively.
“The outlook for PetroTal’s low sulfur oil remains incredibly robust with recent strong export demand realized,” said PetroTal CEO Manuel Pablo Zuniga-Pflucker.
“Many milestones have yet to be achieved, however, the initiatives remain on track and functioning as planned with more formal updates on this to come in H2 2022.”
