PetroTal Corp (TSX:TAL)

C$ 0.69 0.01 (1.47%) Market Cap: 629.75 Mil Enterprise Value: 492.16 Mil PE Ratio: 4.21 PB Ratio: 0.92 GF Score: 63/100

Q3 2024 Petrotal Corp Earnings Call Transcript

Nov 14, 2024 / 03:00 PM GMT

Release Date Price: C$0.63 (-3.08%)

Transcript

Key Points

Positve

PetroTal Corp (PTALF) has increased its production by 39% compared to the same period last year, averaging over 15,000 barrels per day in Q3 2024.
The company has returned more than $53 million to shareholders this year through dividends and buybacks, maintaining a regular quarterly dividend for seven consecutive quarters.
PetroTal Corp (PTALF) has successfully managed operational challenges due to severe drought conditions, producing almost 40% more than during last year's third quarter.
The company has acquired a new drilling rig, expected to provide savings on day rates and standby fees, along with increased flexibility in managing the drilling program.
PetroTal Corp (PTALF) maintains a strong liquidity position with a cash balance of $133 million and access to over $77 million in short-term credit facilities.

Negative

Production volumes have been impacted by declining oil prices, with the Brent benchmark averaging $77.74 per barrel in Q3 2024, leading to a decrease in net operating income.
The company's net income decreased by $28 million compared to the prior quarter, primarily due to a $17.5 million non-cash charge from an unrealized commodity derivative loss.
PetroTal Corp (PTALF) expects its cash balance to decline over the next few quarters due to existing payables, increased spending on the erosion control project, and upcoming tax liabilities.
Operational expenses were high this quarter due to increased well maintenance costs and higher expenses related to electrical submersible pumps.
The company faces challenges in transportation and sales capacity, with ongoing efforts to open new export routes and discussions with Petroperu to facilitate oil sales through the ONP pipeline.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TAL.TO - Petrotal Corp
Q3 2024 Petrotal Corp Earnings Call
Nov 14, 2024 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Many of the questions as possible within the time allotted.

I will now hand over to Nola and Camilo for the presentation. Please take it away.

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Unidentified_2 [2]
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Thank you, Jimmy and good morning everyone and thank you for joining PTAO third quarter, 2024 webcast where we are going to provide a brief summary of the financial and operational results that we released this morning before market open.

My name is Manolo Suniga and I am the President and CEO of Petro Tao. I am joined today by Camila mcallister, our executive VP and Chief Financial

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