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PetroTal Announces Q1 2026 Financial and Operating Results
Calgary, Alberta and Houston, Texas--(Newsfile Corp. - May 7, 2026) - PetroTal Corp. (TSX: TAL) (...
About this update from Petrotal Corp.
PetroTal Announces Q1 2026 Financial and Operating ResultsCalgary, Alberta and Houston, Texas--(Newsfile Corp. - May 7, 2026) - PetroTal Corp. (TSX: TAL) (AIM: PTAL) (OTCQX: PTALF) ("PetroTal" or the "Company") is pleased to report its operating and financial results for the three months ended March 31, 2026. 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, 2026, which are available on SEDAR+ at www.sedarplus.ca and on the Company's website at www.PetroTal‐Corp.com.Key HighlightsAverage Q1 2026 sales and production of 14,350 and 14,907 barrels of oil per day (“bopd”), respectively;Adjusted EBITDA(1) of $35.1 million ($27.22/bbl) represents a 90% increase relative to the prior quarter;Free Funds Flow(1) of $25.7 million in Q1 2026, compared to $3.3 million in Q4 2025;Total cash of $128.3 million as of March 31, 2026, compared to $113.6 million in March 2025;2026 Adjusted EBITDA guidance range increases to $110-120 million, from $30-40 million previously;Executed contract with third-party drilling service provider, ahead of planned resumption of development drilling in October 2026.(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:"Our first quarter results reflect a continued focus on maintaining production at Bretana and positioning the Company for a return to growth, while also highlighting the positive impact of improving crude oil prices. Stronger realized pricing in March contributed to a 90% increase in Adjusted EBITDA compared to the prior quarter, despite lower production volumes in the period. This result demonstrates the Company's operating leverage and ability to generate meaningful cash flow even at lower production levels."At Bretana, we remain focused on preparing the field for its next phase of growth. During the quarter and into April, we advanced key infrastructure initiatives,...