Prio, listed as PRIO3, announced after market close on Monday, April 6, that it has opened the third producing well in the Wahoo field. The company stated the well’s production has stabilized at 10,000 barrels of oil per day.
The company has reduced flow rates from the wells, limiting the field’s total production to 32,000 barrels of oil per day with the three producing wells now in operation.
Prio highlighted that after the opening of a fourth well, planned for late April, it will limit the field’s production to a total of 40,000 barrels of oil per day.
This development follows a previous announcement on March 27, when the oil company informed the market of the opening of Wahoo’s second producer well. That well had achieved a stabilized production of 12,000 barrels of oil per day.
The Wahoo field is a key asset for Prio as the company continues to develop its offshore portfolio. The deliberate pacing of well openings and production caps is a standard operational strategy to manage reservoir pressure and optimize long-term recovery from the field.
News of the third well’s output contributes to the broader activity and production data monitored by investors in the energy sector. Prio’s updates provide transparency on the progress of its capital projects and their contribution to the company’s overall production volume targets.
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