Decimus Oil Sees Production Slide Amid Downtime and Rising Expenses
Decimus Oil Corp., a Calgary-based oil and gas company, released its second-quarter financial and operating results for 2026. The company's production averaged 154 barrels of oil equivalent per day (boe/d) in Q2/26, down 13% from the same period last year.
The decrease in production was largely due to unplanned downtime at several properties, including Vulcan, Hays, and Swan Hills. As a result, revenue for the quarter increased by only 8% to $643,546, mainly driven by a 16% rise in combined commodity prices.
Net production expenses, however, rose by 36% to $647,122, with a significant increase of 45% on a per-boe basis. This led to a negative operating netback and an adjusted funds flow deficit of $336,892 for the quarter.
According to Decimus' President & CEO, Cameron MacDonald, 'The second quarter showed both the leverage in our asset base and the work ahead of us.' The company is focused on preserving liquidity and cutting costs to improve netbacks while evaluating opportunities to add production.