Lotus Creek Exploration Sees Increased Production After Redesigns

Lotus Creek Exploration Inc., trading under the ticker LTC, has released its second quarter 2026 operating results. The company's production for this period was 3,417 barrels of oil equivalent (boe) per day, comprised of 1,584 bbl/day of crude oil and 745 bbl/day of natural gas liquids. This is a decrease from the previous quarter's 4,010 boe/d due to the Tableland Disposition and downtime caused by weather and workovers in Wilson Creek.

However, following redesigns of the downhole configurations at Wilson Creek, production increased by approximately 300 boe/day (70% light oil and NGLs) in July compared to June. The company has also drilled a new well in Wilson Creek with a total on-stream cost of $4.3 million, which produced at restricted rates of 920 boe/d in July.

Lotus Creek plans to optimize production from this well in early August and has an additional five wells expected to be completed and brought online during the third quarter of 2026. The company's full-year 2026 budget aims for disciplined, profitable per-share growth while maintaining financial resilience in a volatile oil price environment.