Business
Lotus Creek Exploration Inc. Announces 2026 Budget and Guidance
Calgary, Alberta--(Newsfile Corp. - December 10, 2025) - Lotus Creek Exploration Inc. (TSXV:...
About this update from Lotus Creek Exploration, Inc.
[{"type":"text","content":"Lotus Creek Exploration Inc. Announces 2026 Budget and GuidanceCalgary, Alberta--(Newsfile Corp. - December 10, 2025) - Lotus Creek Exploration Inc. (TSXV: LTC) (\"Lotus Creek\" or the \"Company\") is pleased to provide the Company's 2026 budget and guidance to shareholders. 2026 APPROVED FISCAL BUDGET AND GUIDANCEThe Board of Directors of the Company has approved a 2026 budget (the \"2026 Budget\") of $42.0 million that is expected to deliver 75% annual production growth with forecast average production for the fourth quarter of 2026 of 4,000 boe per day. The Company's drilling program is primarily weighted to the second half of 2026 with expected production to peak in the first quarter of 2027.The details of the 2026 Budget are as follows:$33.6 million (80%) focused on drilling 6.0 gross (6.0 net) light oil Belly River wells in Wilson Creek and expanding infrastructure at the 5,000 boe per day 02-29 oil battery and gathering system.$8.4 million (20%) invested in land, seismic, field capital projects, recompletions, other corporate costs and continued reduction in liabilities associated with abandonment and reclamations.The 2026 Budget is forecast to deliver the following results:Table 12026 Fiscal GuidanceAnnual production (boe/d)3,400 - 3,800Q4 average production (boe/d)3,800 - 4,200 Crude oil and NGLs weighting (%)77 Natural gas weighting (%)23Capital and abandonment expenditures ($ millions)42.0 The full-year 2026 Budget advances our strategy of disciplined, profitable per-share growth while maintaining financial resilience in a lower oil price environment. Capital is directed to our highest-value projects at Wilson Creek, ensuring every dollar deployed drives meaningful value creation. This strategy also further leverages the benefit of key foundational investments in 2025, including the 3D seismic program and the commissioning of the 02-29 oil battery in Wilson Creek.The 2026 Budget supports three strategic priorities:Production Growth: Delivers meaningful year-over-year and Q4-over-Q4 production increases, extending the momentum established in 2025. Development is concentrated in proven areas with strong technical and economic performance.Cash Flow Management: A phased development schedule distributes capital throughout the year and provides flexibility to respond to evolving market conditions. The existin...