- PetroTal press release ( OTCQX:PTALF ): Q2 GAAP EPS of $0.10.
- Revenue of $118.44M (+176.7% Y/Y).
- Achieved record quarterly production of 14,467 barrels of oil per day and quarterly sales of 14,616 bopd, up 25% and down 5%, respectively, from Q1 2022, representing the company's seventh straight quarter of production growth, with unencumbered sales for the majority of the quarter.
- Generated record net operating income and EBITDA of $98.6M and $93.4M, respectively, both up three and a half fold from Q2 2021 levels and almost double from Q1 2022.
- Generated record free cash flow of $69.4M before changes in non-cash working capital and debt service, accumulating over $100M, for the six months ended June 30, 2022.
- The company estimated 2022 average production to be between 15,000 bopd and 16,000 bopd and the latest production forecast confirms the lower end of this range. Thanks to higher oil prices and lower diluent costs, the Company maintains EBITDA to be approximately $340 million and associated free cash flow before working capital and debt service to be approximately $230 million.
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PetroTal GAAP EPS of $0.10, revenue of $118.44M; reaffirms FY22 guidance