Prio S.A. announced the acquisition of a 60% stake in Peregrino field from Equinor Brasil Energia Ltda, which we estimate will add about 60 thousand barrels of oil equivalent per day (kboe/d) to production and 202 million barrels of oil to its current reserves. With this acquisition and assuming Wahoo?s production in 2026, we now expect Prio?s daily production will approach 200 kboe in 2026, although the deal depends on regulatory approval and Wahoo on environmental permits, the timing of which are uncertain. Upon the conclusion of the above factors, we expect Prio to maintain leverage below 2.0x and sustain comfortable liquidity. As a result, we affirmed our 'BB-' and 'brAA+' long-term issuer credit and national scale ratings and our
