Prio Oil Production Slips 5% in August

Prio saw its consolidated oil production drop 5% in August 2026 compared to July. The company reported an average daily output of 179.9 thousand barrels of oil equivalent per day (boepd) on 3 September 2026, weighed down by operational interruptions.

Production at the Peregrino field fell 5% month on month to 78 thousand boepd, following a 5 thousand boepd daily loss from a temporary outage at well C-16. Meanwhile, the new well A-13 in Peregrino delivered an initial flow rate of 6 thousand boepd. Combined average output at Cluster Bravo fell 6% to 13 thousand boepd. In Albacora Leste, partial processing maintenance caused a daily production loss of 6 thousand boepd.

The Frade and Wahoo cluster posted a modest gain, with daily output rising 1% to 74 thousand boepd. Under a joint operating agreement, partner Repsol Sinopec lifted a total volume of 502 thousand barrels of oil during the month.

Following the preview, Itaú BBA set a target price of 73.00 BRL for Prio common shares for 2027. That target represents an estimated upside potential of 13.3%.