PetroTal (TAL) Q4 2025 earnings summary

Executive summary

• Achieved average FY 2025 production of 19,473 bopd, up 9% year-over-year, and sales of 19,212 bopd.

• Generated $166.3 million Adjusted EBITDA and $44.2 million net income for FY 2025, despite weaker oil prices.

• Returned $44 million to shareholders via dividends and buybacks before pausing distributions in November 2025.

• Ended 2025 with $139.1 million in cash, up from $114.5 million at year-end 2024.

Financial highlights

• FY 2025 oil revenue was $316.9 million, down from $373.9 million in FY 2024 due to lower realized prices ($45.19/bbl vs $58.19/bbl).

• Net income for FY 2025 was $44.2 million, a decrease from $111.5 million in FY 2024.

• Free funds flow increased to $90.4 million in FY 2025 from $74.1 million in FY 2024.

• Development capex was $75.6 million in FY 2025, down from $172.1 million in FY 2024.

• Total cash at year-end 2025 was $139.1 million, with $112.4 million unrestricted.

Outlook and guidance

• Production in early 2026 averages 15,000 bopd, in line with annual guidance.

• Plans to resume development drilling at Bretana by October 2026, with a new contractor tendered.

• Focus on optimizing water handling capacity to restore and expand production.

• Cost reductions and capex optimization remain priorities for 2026.