Business
PetroTal Announces 2026 Guidance: Budget Prioritizes Liquidity Preservation, Cost Discipline, and Operational Optimization
Calgary, Alberta and Houston, Texas--(Newsfile Corp. - January 20, 2026) - PetroTal Corp. (TSX: T...
About this update from Petrotal Corp.
[{"type":"text","content":"PetroTal Announces 2026 Guidance: Budget Prioritizes Liquidity Preservation, Cost Discipline, and Operational OptimizationCalgary, Alberta and Houston, Texas--(Newsfile Corp. - January 20, 2026) - PetroTal Corp. (TSX: TAL) (AIM: PTAL) (OTCQX: PTALF) (\"PetroTal\" or the \"Company\") is pleased to provide the following 2026 guidance update. All amounts are in US dollars unless stated otherwise.Key HighlightsTarget average 2026 production volumes of 11,750-12,250 barrels of oil per day (\"bopd\");Capital investment of $80-90 million, allowing for the resumption of development drilling at Bretaña by Q4 2026;Annual Adjusted EBITDA of $30 million at $60.00 Brent, supported by significant reductions in operating costs and run-rate G&A expenses;Similar to prior years, PetroTal has designed its capital program to maintain minimum unrestricted cash liquidity of $60 million.Manuel Pablo Zuniga-Pflucker, President and Chief Executive Officer, commented:\"We recognize that our operational challenges in 2025, specifically rig availability and production reliability, have impacted investor confidence. PetroTal's 2026 budget is a direct response to that feedback. By moving to a third-party drilling provider and deferring non-essential infrastructure spend, we are prioritizing liquidity over near-term production growth. While the decision to suspend our dividend was difficult, this budget confirms it was necessary to navigate the transition through 2026 without compromising the long-term value of the Bretaña field. Bretaña continues to offer competitive economic returns at $60.00 oil prices, provided we make the necessary improvements to our cost structure. Our investments this year will help set the stage for PetroTal to restore production output to 20,000 bopd next year.\"2026 Guidance OverviewPetroTal's Board of Directors has approved a 2026 capital budget of $80-90 million, of which approximately $18 million is carried over from 2025. Key components of the capital program include:$45 million for drilling, rig mobilization, and well facilities, assuming completion of two development well at Bretaña by year-end 2026$16 million for essential operational continuity projects at Bretaña, including upgrades to camp habitability and safety$15 million for capitalized investments in erosion control at Bretaña, with a...