Business
Lotus Creek Exploration Inc. Announces First Quarter 2026 Operating Results and Expanded Capital Budget
Calgary, Alberta--(Newsfile Corp. - April 27, 2026) - Lotus Creek Exploration Inc. (TSXV: LTC) ("Lotus Creek" or the "Company") is pleased to provide the following first quarter operating results and operational update to shareholders. Lotus Creek's Interim Consolidated Financial Statements and related Management's Discussion and Analysis ("MD&A") for the period ended March 31, 2026 are available for review on Lotus Creek's website at www.lotuscreek.ca and on Lotus Creek's SEDAR+ profile at...
About this update from Lotus Creek Exploration, Inc.
[{"type":"text","content":"Calgary, Alberta--(Newsfile Corp. - April 27, 2026) - Lotus Creek Exploration Inc. (TSXV: LTC) ("Lotus Creek" or the "Company") is pleased to provide the following first quarter operating results and operational update to shareholders. Lotus Creek's Interim Consolidated Financial Statements and related Management's Discussion and Analysis ("MD&A") for the period ended March 31, 2026 are available for review on Lotus Creek's website at www.lotuscreek.ca and on Lotus Creek's SEDAR+ profile at www.sedarplus.ca.","length":573,"tagName":"p"},{"type":"text","content":"QUARTERLY HIGHLIGHTS ","length":20,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Adjusted funds from operations ("Adjusted FFO") for the first quarter of 2026 was $10.6 million as compared to $1.6 million for the first quarter of 2025 and $7.9 million for the previous quarter. Cash flows from operating activities for the first quarter of 2026 was $10.2 million compared to cash flows used in operating activities of $0.4 million for the first quarter of 2025 and cash flows from operating activities of $5.5 million for the previous quarter. See "Non-GAAP and Other Financial Measures" in this press release.","length":549,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":549,"olType":false},{"type":"list","items":[{"val":[{"type":"text","content":"Production for the first quarter of 2026 was 4,010 boe per day comprised of 2,274 bbl per day of crude oil, 896 bbl per day of NGLs and 5,040 mcf per day of natural gas. Production increased from the previous quarter of 3,391 boe per day due to the wells in Wilson Creek brought onstream in March 2026. During the first 30 days of production, the wells averaged over 1,340 boe per day, consisting of 725 bbl per day of crude oil, 360 bbl per day of NGLs, and 1,530 mcf per day of natural gas. The wells remain in the early stages of production, with two wells currently flowing and one well on pump, and the Company continues to monitor performance and optimize operations.","length":673,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":673,"olType":false},{"type":"list","items":[{"val":[{"type":"text","content":"During the first quarter of 2026, the Company drilled, completed, equipped ...