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PetroTal Corp ( (TSE:TAL) ) has shared an announcement.
PetroTal reported first-quarter 2026 production of 14,907 barrels of oil per day and sales of 14,350 barrels per day, with adjusted EBITDA jumping 90% quarter-on-quarter to $35.1 million on stronger realized oil prices despite slightly lower volumes. Free funds flow climbed to $25.7 million, cash on hand reached $128.3 million, and the company sharply raised its 2026 adjusted EBITDA guidance to $110-120 million.
Operationally, PetroTal is preparing the Bretana field for a return to growth, advancing water injection capacity, scheduling workovers on three wells and signing a drilling contract to restart development drilling in October 2026. The company continues to invest in erosion control, where it has spent $36.8 million to date and is retendering the terminated construction contract, while maintaining significant liquidity and modest hedging for the rest of 2026.
More about PetroTal Corp
PetroTal Corp is an oil and gas producer focused on the Bretana heavy oil field in Peru, with listings in Toronto, London and on the OTCQX market. The company sells nearly all its crude through an export route via Brazil and targets production growth while managing transportation, infrastructure and community-related costs in the region.
Learn more about TAL stock on TipRanks’ Stock Analysis page.