PetroRio closes March with a profit of R$ 128.2 million

According to the balance sheet released by PetroRio, last Thursday (14), the company ended the month of March with a profit of R $ 128.2 million. As a means, the company's total revenue increased 60% to R$ 223.1 million.

The improvement is attributed to the higher volume sold with the incorporation of Frade, in addition to the results of hedge operations in the period. "The volume produced in April was 18% higher than the estimated volume, if considered the natural decline of the field at the time of the incorporation of the asset," PetroRio said.

Ebitda, which measures the company's operating cash generation, jumped from R$ 35.6 million to R$ 197.1 million. In addition, the company also made efforts to revitalize the Octopus field, increasing production by 30%.