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PetroTal Corp ( (TSE:TAL) ) has shared an announcement.
PetroTal reported that Q1 2026 group production averaged 14,907 barrels of oil per day, down 2% quarter-on-quarter but slightly ahead of internal expectations, with most volumes coming from the Bretana field and some from the Los Angeles field. Production at Bretana remains constrained by water reinjection capacity and planned tubing replacements, while drilling is expected to resume by October once a third-party rig contract is finalized.
The company ended the quarter with total cash of $128.1 million, including $104.2 million of unrestricted cash, down from year-end 2025 but above the level a year earlier, supported by strong March pricing near $90 per barrel. PetroTal also maintains oil price hedges covering about 0.9 million barrels through 2026, which currently carry a negative fair value, underscoring both its effort to manage commodity price risk and the near-term mark-to-market drag on its financial position.
More about PetroTal Corp
PetroTal Corp. is a Calgary and Houston-based oil and gas development and production company focused on onshore crude oil assets in Peru. Its flagship operation is the 100% owned Bretana Norte field in Block 95, and it also produces from the Los Angeles field in Block 131, having grown to become Peru’s largest crude oil producer in early 2022. The company emphasizes safe, cost-effective development and community-sensitive energy production.
For an in-depth examination of TAL stock, go to TipRanks’ Overview page.