PetroTal (LSE:TAL) reported average production of 19,473 barrels of oil per day in 2025, representing an increase of about 9% compared with the previous year. The company generated $166.3 million in adjusted EBITDA and $90.4 million in free funds flow despite a weaker Brent price environment. Net income declined to $44.2 million from $111.5 million a year earlier, although PetroTal strengthened its financial position with year-end cash of $139.1 million. During the year, the company returned approximately $44 million to shareholders through dividends and share buybacks before suspending further distributions.
Development capital expenditure was significantly reduced during 2025 as the company prioritised other operational needs, including major investment in an erosion control project. Production at the Bretana field has also been affected by limited water reinjection capacity, which has forced five horizontal wells offline.
To support future growth, PetroTal has awarded a tender for a new drilling contractor and plans to import a drilling rig to Peru in 2026. The company is targeting the spudding of its next Bretana development well by October 2026, while also focusing on cost efficiencies and facility improvements aimed at increasing production and operational efficiency.
More about PetroTal Corp
PetroTal Corp. is an oil and gas production company with its core operations in Peru. Its principal asset is the Bretana field in Block 95, complemented by additional production from Block 131. PetroTal primarily exports its crude via routes through Brazil, seeking Brent-linked pricing while managing logistics, tariffs and water-handling constraints that influence its operational strategy and capital investment priorities.
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