PetroTal Reports 14,907 bopd in Q1 and $128.1M Cash Position
PetroTal averaged 14,907 bopd in Q1 2026, with 14,490 bopd from Bretana and 417 bopd from Los Angeles under full working interest. The company held $128.1 million cash, 0.9 million barrel hedges at $60/$80.50 floor/ceiling and will replace tubing in three wells in Q2, deploying rig in Q3.
1. Q1 2026 Production Performance
PetroTal averaged 14,907 bopd in Q1 2026, with 14,490 bopd from the Bretana field (Block 95) and 417 bopd from the Los Angeles field (Block 131), both at 100% working interest. Production remains constrained by water reinjection capacity of approximately 170,000 barrels per day.
2. Q2 Maintenance and Q3 Drilling Plans
The company plans planned downtime in Q2 to replace production tubing in three horizontal wells ahead of a rig arrival expected in Q3 2026. A contract with a third-party drilling contractor is in final stages, with drilling operations targeted to resume by October at Bretana.
3. Cash Position and Hedging Program
As of April 1, PetroTal held $128.1 million in cash, supported by average realized oil prices of $90.00 per barrel in March. Production hedges cover 0.9 million barrels with costless collars at a $60.00 floor and $80.50 ceiling, and carry a fair value of negative $8.6 million.