PetroTal targets production growth with Bretana drilling restart

(WO) - PetroTal Corp. said it is preparing to resume development drilling at its Bretana field in Peru later this year as the company works to stabilize production and return to growth. 

The company reported first-quarter 2026 production of approximately 14,900 bopd and said it has signed a contract with a third-party drilling contractor ahead of a planned drilling campaign expected to begin in October.

PetroTal also increased its 2026 adjusted EBITDA guidance to $110 million-$120 million, up from a previous outlook of $30 million-$40 million, citing stronger crude pricing and improving operational performance.

President and CEO Manuel Pablo Zuniga-Pflucker said the company remains focused on maintaining production at Bretana while positioning the asset for its next growth phase.

“At Bretana, we remain focused on preparing the field for its next phase of growth,” he said. “We advanced key infrastructure initiatives, including stimulation work on water injection wells to increase injection capacity and help stabilize production ahead of our upcoming drilling campaign.”

The company said year-to-date sales volumes are tracking slightly ahead of expectations as it moves toward the middle of the second quarter.

In addition to restarting drilling activity, PetroTal plans to conduct pulling jobs on three wells during the third quarter to optimize performance ahead of the new campaign.

“Looking ahead, our priorities remain clear: sustain and build production at Bretana, execute our capital program, and position the Company to return to growth,” Zuniga-Pflucker said.