Petrus Resources Ltd (TSX:PRQ)

Q2 2026 Petrus Resources Ltd Earnings Call Transcript

Aug 7, 2026 / 03:00 PM GMT

Release Date Price: C$1.78 (+1.14%)

Transcript

Key Points

Positve

Operating netback improved 92% year-over-year to $24.9 million, driven by increased production, higher liquids weighting, and improved liquids pricing.
Production averaged 11,070 BOE per day in Q2 2026, up 21% from a year ago, with June corporate production exceeding 12,000 BOE per day, the highest monthly average in company history.
Realized price increased 46% year-over-year to $37.66 per BOE, despite an 18% drop in natural gas prices, thanks to a higher liquids weighting of 39% and strong oil and NGL prices.
Funds flow for the quarter increased 32% year-over-year, demonstrating solid financial performance despite hedging losses.
The company is executing efficiently on operations, with new wells brought on production in August and additional wells scheduled for later in the year, positioning for continued growth.
Management maintains a disciplined capital investment approach and consistent risk management, allowing the company to remain fundamentally strong and continue paying a high-yield dividend.

Negative

Hedging losses partially masked the dramatic improvement in operating results, reducing the overall financial impact of the strong quarter.
Natural gas prices remain weak, with an 18% drop year-over-year, which could pressure future revenue if the trend continues.
Oil prices are described as very volatile with no end in sight, creating uncertainty for future cash flows and planning.
The Harmatin acquisition did not contribute fully in Q2 due to scheduled facility maintenance in April and May, which temporarily curtailed production.
Production growth is expected to plateau at around 12,000 BOE per day for the rest of the year, with management indicating it is unlikely to reach 13,000 BOE per day exit rate.
Infrastructure constraints in North Ferrier limit the ability to fully capitalize on strong well results, requiring a more spread-out development schedule.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PRQ.TO - Petrus Resources Ltd
Q2 2026 Petrus Resources Ltd Earnings Call
Aug 07, 2026 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for standing by.

Welcome to the pictures.

Resources, second quarter, 2026 results conference call at this time, all participants are in a listen-only mode.

After the speaker's presentation, there'll be a question-and-answer session.

To ask a question during the session, you need to press 11 on your telephone, you will then hear an automated message advising your hand is raised to withdraw your question, please press 11 again, please be advised that today's conference is being recorded.

I would now like to turn the conference over to.

Your speaker for today, Ken, you may go ahead.

Good morning.

Thanks for tuning in to Petrus Resources

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