Business
PetroTal Announces Q1 2025 Financial and Operating Results
Calgary, Alberta and Houston, Texas--(Newsfile Corp. - May 12, 2025) - PetroTal Corp. (TSX: TAL) ...
About this update from Petrotal Corp.
[{"type":"text","content":"PetroTal Announces Q1 2025 Financial and Operating ResultsCalgary, Alberta and Houston, Texas--(Newsfile Corp. - May 12, 2025) - PetroTal Corp. (TSX: TAL) (AIM: PTAL) (OTCQX: PTALF) (\"PetroTal\" or the \"Company\") is pleased to report its financial and operating results for the three months ended March 31, 2025. All amounts herein are in United States dollars unless stated otherwise.Selected financial and operational information outlined above should be read in conjunction with the Company's unaudited consolidated financial statements and management's discussion and analysis (\"MD&A\") for the three months ended March 31, 2025, which are available on SEDAR+ at www.sedarplus.ca and on the Company's website at www.PetroTal‐Corp.com.Key HighlightsAverage Q1 2025 sales and production of 23,286 and 23,281 barrels of oil per day (\"bopd\"), respectively, both record highs for PetroTal;Generated Adjusted EBITDA(1) and Net Income of $71.9 million ($34.29/bbl) and $30.9 million ($14.72/bbl), respectively;Free Funds Flow(1) of $48.2 million ($23.02/bbl), PetroTal's second best quarter since inception; Capital expenditures of $23.6 million, a substantial QoQ decrease as the Bretana drilling campaign wound down in January;Total cash of $113.6 million at end of the period, essentially flat to the prior quarter, and an increase of $28 million compared to the same period last year;Arrangement of term loan facility with a syndicate of Peruvian banks, with commitments of up to $65 million;Mark to market value of production hedges increased to $14.2 million as of May 7, 2025; and,Declared a quarterly dividend of $0.015/sh, payable to shareholders on June 13, 2025. (1) Non-GAAP (defined below) measure that does not have any standardized meaning prescribed by GAAP and therefore may not be comparable with the calculation of similar measures presented by other entities. See \"Selected Financial Measures\" section. Manuel Pablo Zuniga-Pflucker, President and Chief Executive Officer, commented:\"PetroTal's first quarter results reflect a strong contribution from our 2024 development drilling program. I am proud of our entire team for delivering another record quarter of production. We have successfully been running near 100% of our transportation and facility capacity and are taking full advantage of high river levels during the ongoing ra...