By Brazil Stock Guide – Prio SA (PRIO3) began production at its Wahoo field in Brazil’s Santos Basin on Thursday (19), marking the startup of its first producing well and a key step in expanding output capacity.
The Rio de Janeiro-based oil company said it will disclose initial well productivity and timelines for additional wells after stabilizing production and completing fiscal metering procedures.
The Wahoo field is widely seen as a major growth driver for Prio this year, with estimated production capacity of up to 40,000 barrels per day. The gradual ramp-up will depend on the performance of the first well and the phased connection of subsequent wells.
The development comes as energy markets remain sensitive to oil price volatility, with production efficiency and scale playing a central role in determining earnings for independent producers like Prio.