Canada's PetroTal Q2 adjusted EBITDA rises sequentially

Petrotal

06/08/2026 07:26

Overview
Canada-based Peru oil producer's Q2 sales averaged 11,969 bopd
Q2 adjusted EBITDA was $43.5 mln, net income $4.8 mln including $10.2 mln impairment charge
Company ended Q2 with $136.9 mln total cash, up from Q1, reflecting strong operating cash flow

Outlook
Petrotal expects development drilling to resume in October 2026 at Bretana field
Company commenced pulling campaign to replace tubing and pumps, aiming to offset forecast production declines in H2 2026
Petrotal anticipates return to production growth in 2027

Result Drivers
REALIZED PRICING - Co said stronger realized oil prices contributed to higher adjusted EBITDA and free funds flow
PRODUCTION DECLINES - Bretana field production declined due to natural declines, in line with expectations
MITIGATION EFFORTS - Company press release: ID:nRSF4916Pa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Average Sales (bopd)
 
$11.97 mln
 
Q2 Net Income
 
$4.80 mln
 
Q2 Adjusted EBITDA
 
$43.54 mln
 
Q2 Capex
 
$7.97 mln
 
Q2 Operating Expenses
 
$11.01 mln
 
Q2 Operating Income
 
$54.45 mln
 

Analyst Coverage
The stock recently traded at 3 times the next 12-month earnings vs. a P/E of 8 three months ago

Reuters Recommended Reads
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Aug 5 - Canada's Gran Tierra to sell South American assets to Maurel and Prom in $1.33 billion deal
Aug 4 - GeoPark Q2 revenue rises 12% on higher oil prices

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)