PetroTal Announces Q4 and Full Year 2024 Results

Rhea-AI Summary

PetroTal Corp. (PTALF) reported strong Q4 and full-year 2024 results, with production exceeding guidance. Q4 2024 saw average sales of 19,087 bopd and production of 19,142 bopd, while FY 2024 achieved 17,558 bopd in sales and 17,785 bopd in production, marking a 25% increase from 2023.

Financial highlights include:

• EBITDA of $40.2 million in Q4 and $237 million in FY 2024
• Development capex of $50.6 million in Q4 and $163 million in FY 2024
• Annual free funds flow of $74.1 million
• Available cash of $103 million at year-end 2024

The company paid its eighth consecutive quarterly dividend of $0.015/share in March 2025. Total shareholder returns in 2024 included $0.06/share in dividends and 11.3 million shares repurchased, totaling approximately $65 million. YTD 2025 production has averaged 23,200 bopd, with strong performance from newly drilled wells.

Positive

• Production exceeded guidance with 25% YoY growth in 2024
• Strong EBITDA of $237 million in FY 2024, near high end of guidance
• Consistent shareholder returns with $65 million paid in 2024
• 2025 YTD production increase to 23,200 bopd
• Successfully replaced 208% of 2P reserves with 13-year reserve life index

Negative

• Net Surplus declined to a deficit of $1.5 million in Q4 2024
• Reduced share buybacks due to capital allocation priorities
• Production currently constrained by facility capacity
• Operating and transportation expenses increased by $1.48/bbl in Q4 2024
• Brent oil prices declined by $4.32/bbl in Q4 compared to Q4 2023

Calgary, Alberta and Houston, Texas--(Newsfile Corp. - March 20, 2025) - PetroTal Corp. (TSX: TAL) (AIM: PTAL) (OTCQX: PTALF) ("PetroTal" or the "Company") is pleased to report its operating and financial results for the three months and year ended December 31, 2024. All amounts herein are in United States dollars unless stated otherwise.

Key Highlights

• Average Q4 2024 sales and production of 19,087 and 19,142 barrels of oil per day ("bopd"), respectively, including volumes from the acquisition of Block 131, which closed in late November;

• Average FY 2024 sales and production of 17,558 bopd and 17,785 bopd, respectively, slightly above the guidance range (16,500 to 17,500 bopd), and an increase of approximately 25% relative to 2023 average production;

• Group production has averaged approximately 23,200 bopd in 2025 YTD;

• Generated EBITDA⁽¹⁾ of $40.2 million ($22.86/bbl) and $237 million ($36.87/bbl) in Q4 2024 and FY 2024 respectively, near the high end of annual guidance ($200 to 240 million);

• Development capital expenditures ("capex") totaled $50.6 million in Q4 2024 and $163 million in FY 2024, near the midpoint of the annual guidance range ($150-175 million);

• Annual free funds flow⁽¹⁾ was $74.1 million, prior to returns of capital to shareholders, representing a yield of approximately 21% relative to our year-end 2024 market capitalization;

• Available cash increased to $103 million at year-end 2024 (from $91 million the prior year);

• On March 14, PetroTal paid a dividend of $0.015/share, associated with Q4 2024 results. This was PetroTal's eighth consecutive quarterly dividend, bringing total return of capital under the Company's dividend program to $116 million ($0.14/share);

• PetroTal paid total dividends of $0.06/share and repurchased 11.3 million common shares in 2024, representing approximately $65 million of total capital returned to shareholders (compared to $62 million in 2023).

• Successfully completed seven new oil wells in 2024. During 2024, six of these oil wells produced just over 2 million bbls of oil and generated approximately $85 million in net operating income⁽¹⁾, which amounts to a 100% return of investment as of year-end 2024.

Selected financial and operational information outlined above should be read in conjunction with the Company's unaudited consolidated financial statements and management's discussion and analysis ("MD&A") for the three and twelve months ended December 31, 2024, which are available on SEDAR+ at www.sedarplus.ca and on the Company's website at www.PetroTal‐Corp.com.

(1) Non-GAAP (defined below) measure that does not have any standardized meaning prescribed by GAAP and therefore may not be comparable with the calculation of similar measures presented by other entities. See "Selected Financial Measures" section.

Manuel Pablo Zuniga-Pflucker, President and Chief Executive Officer, commented:

"PetroTal reported strong financial and operational results in 2024, increasing our production by an average of 25% over 2023, while returning more than $65 million to shareholders through dividends and share buybacks. The Company also successfully managed a period of record low river levels during the dry season, on our way to exceeding annual production guidance.

2025 is off to an excellent start, with the results of our development drilling campaign and facility investments supporting year-to-date average production of more than 23,000 bopd. We are also excited to commence development on our new asset at the Los Angeles field, along with the greater Block 131 region, with a new drilling rig expected to arrive around mid-year.

Over the past eight months, PetroTal has been actively hedging its 2025 production volumes and has no long-term debt or significant drilling commitments. We are committed to our ongoing capital program which prioritizes a material dividend in tandem with strategic initiatives that include Block 131 development and the erosion control project. I would like to thank shareholders for their continued support, as well as PetroTal's board of directors and the rest of the PetroTal team for their continued valuable contributions to our success."

Selected Financial Highlights

	Three Months Ended				Twelve Months Ended
	Q4-2024		Q3-2024		Q4-2024		Q4-2023
	$/bbl	$ 000	$/bbl	$ 000	$/bbl	$ 000	$/bbl	$ 000
Average Production (bopd)		19,142		15,203		17,785		14,248
Average sales (bopd)		19,087		14,760		17,558		14,421
Total sales (bbls)(1)		1,756,030		1,357,961		6,426,106		5,263,485
Average Brent price	$73.42		$77.74		$78.98		$81.53
Contracted sales price, gross	$73.16		$78.58		$79.15		$80.54
Tariffs, fees and differentials	($21.10)		($20.52)		($20.96)		($20.33)
Realized sales price, net	$52.06		$58.06		$58.19		$60.21
Oil revenue(1)	$52.06	$91,421	$58.06	$78,850	$58.19	$373,940	$60.21	$316,911
Royalties(2)	$7.42	$13,022	$5.47	$7,433	$6.22	$39,947	$5.82	$30,648
Operating expense	$7.88	$13,843	$8.23	$11,176	$6.90	$44,320	$6.16	$32,446
Direct Transportation:
Diluent	$0.14	$248	$0.90	$1,218	$0.77	$4,931	$1.30	$6,857
Barging	$1.89	$3,317	$0.68	$927	$0.96	$6,200	$0.66	$3,475
Diesel	$0.05	$81	$0.13	$173	$0.08	$520	$0.10	$516
Storage	$1.97	$3,452	$0.51	$690	$0.58	$3,697	$0.78	$4,115
Total Transportation	$4.05	$7,098	$3.05	$3,008	$2.39	$15,348	$2.84	$14,963
Net Operating Income(3,4)	$32.71	$57,458	$42.14	$57,233	$42.68	$274,325	$45.39	$238,854
Erosion Control	$5.45	$9,569	$0.40	$548	$1.57	$10,117	$0.00	$0.00
G&A	$4.86	$8,534	$6.75	$9,160	$5.65	$36,291	$5.33	$28,049
EBITDA(3)	$22.41	$39,355	$34.20	$46,406	$35.47	$227,917	$40.05	$210,805
Adjusted EBITDA(3,5)	$22.87	$40,167	$35.69	$48,436	$36.88	$236,972	$40.97	$215,646
Net Income	$12.10	$21,242	$4.46	$7,179	$17.34	$111,450	$21.00	$110,505
Basic Shares Outstanding (000)		911,783		913,259		911,783		912,314
Market Capitalization(6)		$355,595		$429,231		$355,595		$556,511
Net Income/Share ($/share)		$0.02		$0.01		$0.11		$0.12
Capex		$50,589		$43,019		$162,827		$108,454
Free Funds Flow(3) (7)	($11.02)	($10,422)	$4.81	$6,537	$11.56	$74,145	$20.37	$107,192
% of Market Capitalization(6)		(2.9%)		1.2%		20.9%		19.3%
Total Cash(8)		$114,528		$133,072		$114,528		$111,299
Net Surplus (Debt) (3) (9)		($1,532)		$10,124		($1,532)		$52,307

 

1. Approximately 89% of Q4 2024 sales were through the Brazilian route vs 89% in Q3 2024.
2. Royalties include the impact of the 2.5% community social trust.
3. Non-GAAP (defined below) measure that does not have any standardized meaning prescribed by GAAP and therefore may not be comparable with the calculation of similar measures presented by other entities. See "Selected Financial Measures" section.
4. Net operating income represents revenues less royalties, operating expenses, and direct transportation.
5. Adjusted EBITDA is net operating income less general and administrative ("G&A") and plus/minus realized derivative impacts.
6. Market capitalization for Q4 2024, Q3 2024 and Q4 2023 assume share prices of $0.39, $0.47, and $0.61 respectively on the last trading day of the quarter.
7. Free funds flow is defined as adjusted EBITDA less capital expenditures. See "Selected Financial Measures" section.
8. Includes restricted cash balances.
9. Net Surplus (Debt) = Total cash + all trade and net VAT receivables + short and long term net derivative balances - total current liabilities - long term debt - non current lease liabilities - net deferred tax - other long term obligations.

Q4 2024 Financial Variance Summary

	Three months ended			Twelve months ended
US$/bbl Variance Summary	Q4 2024	Q3 2024	Variance	Q4 2024	Q4 2023	Variance
Oil Sales (bopd)	19,087	14,760	4,327	17,558	14,421	3,137
Contracted Brent Price	$73.42	$77.74	($4.32)	$78.98	$81.53	($2.55)
Realized Sales Price	$52.06	$58.06	($6.00)	$58.19	$60.21	($2.02)
Royalties	$7.42	$5.47	$1.95	$6.22	$5.82	$0.40
Total OPEX and Transportation	$11.93	$10.45	$1.48	$9.29	$9.00	$0.29
Net Operating Income(1,2)	$32.71	$42.14	($9.43)	$42.68	$45.39	($2.71)
G&A	$4.86	$6.75	($1.89)	$5.65	$5.33	$0.32
EBITDA	$22.41	$34.20	($11.79)	$35.47	$40.05	($4.58)
Net Income	$12.10	$4.46	$7.64	$17.34	$21.00	($3.66)
Free Funds Flow(1,3)	($11.02)	$4.81	($15.83)	$11.56	$20.37	($8.81)

 

• Sales volumes increased by 29% QoQ, due to the conclusion of dry season in the Amazon basin, which removed constraints on PetroTal's ability to export crude oil from the Bretana field. FY 2024 sales volumes increased by 22% relative to 2023, due to an active development drilling program and ongoing expansion of export capacity;
• Brent oil prices declined by $4.32/bbl in Q4, and $2.55/bbl in FY 2024, relative to the comparable periods in 2023. PetroTal's realized sale price declined by $6.00/bbl in Q4 2024, primarily due to the timing of export sales during the quarter. However, relative to FY 2023, the Company's realized sale price declined less than the Brent benchmark;
• Operating and transportation expenses increased by $1.48/bbl in Q4 2024, mainly due to demurrage charges on the Company's barge fleet. However, on a YTD basis, operating and transportation costs have risen by a marginal $0.29/bbl;
• Net income rose by $7.64/bbl in Q4 2024, mainly due to an unrealized derivative gain of $2.7 million, and a gain related to deferred income tax expense.

1. See "Selected Financial Measures".
2. Net operating income represents revenues less royalties, operating expenses, and direct transportation.
3. Free funds flow is defined as adjusted EBITDA less capital expenditures.
4. Net Surplus (Debt) = Total cash + all trade and net VAT receivables + short and long term net derivative balances - total current liabilities - long term debt - non current lease liabilities - net deferred tax - other long term obligations.

Additional financial and operational updates during and subsequent to the quarter ending December 31, 2024:

Production & Drilling Update

PetroTal's 2025 year-to-date production has averaged approximately 23,200 bopd, including 22,600 bopd from the Bretana field and 600 bopd from the Los Angeles field. With river levels comfortably above the historical average during the ongoing rainy season, PetroTal is currently exporting from the Bretana field near the capacity of its barge fleet. Production also remains constrained by facility capacity, as the Company awaits the installation of CPF4, which will increase oil handling capacity to 32,000 bopd by mid-year.

The Company continues to observe strong production response from recently drilled wells; the 22H well was brought onstream in mid-January and averaged 4,500 bopd over its first 30 days onstream, including a maximum daily rate of 7,025 bopd. Well 23H was brought onstream for production testing in the last week of February 2025, flowing naturally at an average of 3,500 bopd over its first ten days onstream. Flush production from wells 22H and 23H is expected to be sufficient to support production levels throughout H1 2025, in advance of the annual dry season which typically sets in by August.

Erosion Control Project

PetroTal has demobilized its drilling rig at Bretana and is preparing to ramp up activity on the erosion control project in Q2 2025. Transportation of the preassembled steel segments from the project's staging point in Pucallpa is expected to take place in May, when the jackup is also expected to arrive on site. The Company should be in a position to provide additional updates on the project with Q1 2025 results in mid-May.

As previously disclosed, PetroTal recorded a $9.6 million expense for the erosion control project in Q4 2024, primarily associated with the purchase of steel components. The Company continues to budget $35-40 million for the erosion control project in 2025, approximately 75% of which will be expensed through the income statement.

Cash and Liquidity Update

PetroTal ended 2024 with a total cash position of $114.5 million, of which $102.8 million was unrestricted. This compares to total cash of $133 million at the end of Q3 2024, and $111 million at the same time last year. Net Surplus, a non-IFRS measure which PetroTal uses to describe its liquidity position net of working capital and various non-current liabilities, declined to a deficit of $1.5 million at the end of Q4 2024. This compares to a surplus of $10.1 million at the end of Q3 2024, and $52 million at the end of 2023. The main source of variance in net surplus relative to the prior quarter is the lease liability associated with PetroTal's acquisition of a drilling rig in Q4 2024. Relative to year-end 2023, PetroTal has also recorded a large increase in tax liabilities as the Company consumed net operating losses over the prior three years.

PetroTal entered into additional hedge agreements during Q4 2024, and subsequently in January 2025. The Company now has hedges on an average of 260,000 barrels per month over the next twelve months, which represents approximately 40% of forecast production volumes. The terms of the hedge agreements entered into during Q4 2024 and January 2025 are essentially the same as those reported with Q3 2024 results in November. PetroTal's hedges consist of costless collars with a Brent floor price of $65.00/bbl and a ceiling of $82.50/bbl, with a cap of $102.50/bbl.

Shareholder Returns Update

As previously announced on February 20, 2025, PetroTal declared a quarterly dividend of $0.015 per share, associated with Q4 2024 results. This dividend was paid on March 14 to shareholders of record as of February 28, bringing cumulative payout under the Company's ongoing dividend program to $116 million. PetroTal's 2025 liquidity strategy prioritizes dividend sustainability, balanced with Block 131 development and erosion control working capital requirements. As a result, the volume of share buybacks has decreased compared to previous quarters. The Company will continue to monitor buyback levels and will operate in the quarterly approved bandwidths announced in May 2024.

2025 Budget Guidance

As previously announced on January 16, 2025, PetroTal has guided to annual average production of 21,000 to 23,000 bopd in 2025, an increase of approximately 24% relatively to 2024. At an annual average Brent oil price of $75.00/bbl, this production is expected to drive annual EBITDA of $240 to 250 million, supported by capital investments of $140 million. As of March 20, 2025 PetroTal is pleased to report no material changes to its forecast.

Year-end 2024 Reserves

On February 19, 2025, PetroTal announced its updated reserves evaluation for the year ending December 31, 2024. The Company reported growth in all major reserves categories, with its 2P after tax reserves value per share increasing to $1.89/share. The after tax net present value of PetroTal's reserves, discounted at 10% ("NPV10"), increased to $1.7 billion, on associated 2P reserves of 114 million bbls. The Company successfully replaced 293% and 208% of 1P and 2P reserves, respectively, with an associated 2P reserve life index of 13 years. For the full text of this announcement, please refer to PetroTal's press release dated February 20, 2025, filed on SEDAR+ (www.sedarplus.ca) and posted on PetroTal's website (www.petrotalcorp.com). In addition to the summary information disclosed in this press release, more detailed information will be included in the annual information form for the year ended December 31, 2024, to be filed on SEDAR+ (www.sedarplus.ca) and posted on PetroTal's website (www.petrotalcorp.com) by March 28, 2025.

Corporate Presentation Update

The Company has updated its Corporate Presentation, which is available for download or viewing at www.petrotalcorp.com.

Q4 2024 Webcast on March 20, 2025

PetroTal's management team will host a webcast to discuss Q4 2024 results on March 20, 2025 at 9am CT (Houston) and 2pm GMT (London). Please see the link below to register.

https://stream.brrmedia.co.uk/PTAL_Q4_2024

ABOUT PETROTAL

PetroTal is a publicly traded, tri‐quoted (TSX: TAL) (AIM: PTAL) and (OTCQX: PTALF) oil and gas development and production Company domiciled in Calgary, Alberta, focused on the development of oil assets in Peru. PetroTal's flagship asset is its 100% working interest in the Bretaña Norte oil field in Peru's Block 95, where oil production was initiated in June 2018. In early 2022, PetroTal became the largest crude oil producer in Peru. The Company's management team has significant experience in developing and exploring for oil in Peru and is led by a Board of Directors that is focused on safely and cost effectively developing the Bretaña oil field. It is actively building new initiatives to champion community sensitive energy production, benefiting all stakeholders.

For further information, please see the Company's website at www.petrotal-corp.com, the Company's filed documents at www.sedarplus.ca, or below:

Camilo McAllister
Executive Vice President and Chief Financial Officer
Cmcallister@PetroTal-Corp.com
T: (713) 253-4997

Manolo Zuniga
President and Chief Executive Officer
Mzuniga@PetroTal-Corp.com
T: (713) 609-9101

PetroTal Investor Relations
InvestorRelations@PetroTal-Corp.com

Celicourt Communications
Mark Antelme / Jimmy Lea
petrotal@celicourt.uk
T : +44 (0) 20 7770 6424

Strand Hanson Limited (Nominated & Financial Adviser)
Ritchie Balmer / James Spinney / Robert Collins
T: +44 (0) 207 409 3494

Stifel Nicolaus Europe Limited (Joint Broker)
Callum Stewart / Simon Mensley / Ashton Clanfield
T: +44 (0) 20 7710 7600

Peel Hunt LLP (Joint Broker)
Richard Crichton / David McKeown / Georgia Langoulant
T: +44 (0) 20 7418 8900

READER ADVISORIES

FORWARD-LOOKING STATEMENTS: This press release contains certain statements that may be deemed to be forward-looking statements. Such statements relate to possible future events, including, but not limited to: oil production levels and production capacity, including wells 22H and 23H; PetroTal's 2025 development program for drilling, completions and other activities, including Block 131 and CPF-4 at Bretana; plans and expectations with respect to the erosion control project; and PetroTal's expectations with respect to dividends and share buybacks. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "believe", "expect", "plan", "estimate", "potential", "will", "should", "continue", "may", "objective", "intend" and similar expressions. The forward-looking statements provided in this press release are based on management's current belief, based on currently available information, as to the outcome and timing of future events. The forward-looking statements are based on certain key expectations and assumptions made by the Company, including, but not limited to, expectations and assumptions concerning the ability of existing infrastructure to deliver production and the anticipated capital expenditures associated therewith, the ability to obtain and maintain necessary permits and licenses, the ability of government groups to effectively achieve objectives in respect of reducing social conflict and collaborating towards continued investment in the energy sector, reservoir characteristics, recovery factor, exploration upside, prevailing commodity prices and the actual prices received for PetroTal's products, including pursuant to hedging arrangements, the availability and performance of drilling rigs, facilities, pipelines, other oilfield services and skilled labour, royalty regimes and exchange rates, the impact of inflation on costs, the application of regulatory and licensing requirements, the accuracy of PetroTal's geological interpretation of its drilling and land opportunities, current legislation, receipt of required regulatory approval, the success of future drilling and development activities, the performance of new wells, future river water levels, the Company's growth strategy, general economic conditions and availability of required equipment and services. PetroTal cautions that forward-looking statements relating to PetroTal are subject to all of the risks, uncertainties and other factors, which may cause the actual results, performance, capital expenditures or achievements of the Company to differ materially from anticipated future results, performance, capital expenditures or achievement expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those set forth in the forward-looking statements include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses; and health, safety and environmental risks), business performance, legal and legislative developments including changes in tax laws and legislation affecting the oil and gas industry and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures, credit ratings and risks, fluctuations in interest rates and currency values, changes in the financial landscape both domestically and abroad, including volatility in the stock market and financial system, wars (including Russia's war in Ukraine and the Israeli-Hamas conflict), regulatory developments, commodity price volatility, price differentials and the actual prices received for products, exchange rate fluctuations, legal, political and economic instability in Peru, access to transportation routes and markets for the Company's production, changes in legislation affecting the oil and gas industry, changes in the financial landscape both domestically and abroad (including volatility in the stock market and financial system) and the occurrence of weather-related and other natural catastrophes. Readers are cautioned that the foregoing list of factors is not exhaustive. Please refer to the annual information form for the year ended December 31, 2023 and the management's discussion and analysis for the three months ended March 31, 2024 for additional risk factors relating to PetroTal, which can be accessed either on PetroTal's website at www.petrotal-corp.com or under the Company's profile on www.sedarplus.ca. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

OIL REFERENCES: All references to "oil" or "crude oil" production, revenue or sales in this press release mean "heavy crude oil" as defined in National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101").

SHORT TERM RESULTS: References in this press release to peak rates, initial production rates, current production rates, 30-day production rates and other short-term production rates are useful in confirming the presence of hydrocarbons, however such rates are not determinative of the rates at which such wells will commence production and decline thereafter and are not indicative of long-term performance or of ultimate recovery. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production of PetroTal. The Company cautions that such results should be considered to be preliminary.

FOFI DISCLOSURE: This press release contains future-oriented financial information and financial outlook information (collectively, "FOFI") about PetroTal's prospective results of operations and production results, 2024 drilling program and budget, well investment payback, cash position, liquidity and components thereof, all of which are subject to the same assumptions, risk factors, limitations and qualifications as set forth in the above paragraphs. FOFI contained in this press release was approved by management as of the date of this press release and was included for the purpose of providing further information about PetroTal's anticipated future business operations. PetroTal and its management believe that FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments, and represent, to the best of management's knowledge and opinion, the Company's expected course of action. However, because this information is highly subjective, it should not be relied on as necessarily indicative of future results. PetroTal disclaims any intention or obligation to update or revise any FOFI contained in this press release, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Readers are cautioned that the FOFI contained in this press release should not be used for purposes other than for which it is disclosed herein. All FOFI contained in this press release complies with the requirements of Canadian securities legislation, including NI 51-101. Changes in forecast commodity prices, differences in the timing of capital expenditures, and variances in average production estimates can have a significant impact on the key performance measures included in PetroTal's guidance. The Company's actual results may differ materially from these estimates.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245298

FAQ

What was PetroTal's (PTALF) production growth in 2024 compared to 2023?

PetroTal's production increased by approximately 25% in 2024 compared to 2023, reaching average production of 17,785 bopd.

How much capital did PTALF return to shareholders in 2024?

PTALF returned approximately $65 million to shareholders through $0.06/share in dividends and repurchasing 11.3 million common shares.

What is PetroTal's (PTALF) current production rate in 2025?

PetroTal's 2025 year-to-date production has averaged approximately 23,200 bopd, including 22,600 bopd from Bretana field and 600 bopd from Los Angeles field.

What are PTALF's production guidance targets for 2025?

PetroTal has guided to annual average production of 21,000 to 23,000 bopd in 2025, representing approximately 24% increase from 2024.

What was PetroTal's (PTALF) EBITDA for full year 2024?

PetroTal generated EBITDA of $237 million ($36.87/bbl) for full year 2024, near the high end of annual guidance ($200-240 million).