Petrus Resources Sees 92% Jump in Operating Netback Amid Higher Oil Production
Petrus Resources Ltd., an oil and gas company, reported its second-quarter financial results for 2026. The Calgary-based company saw a significant increase in operating netback, which rose by 92% to $24.9 million ($24.73/boe) compared to the same period last year.
The company's average production was 11,070 boe/d (barrels of oil equivalent per day), a 21% increase from the prior year comparative period and 10% higher than the first quarter of 2026. Production in June averaged approximately 12,000 boe/d, marking the highest monthly production in Petrus' history.
Petrus also reported increased oil and condensate production, which rose by 61% to 1,998 bbl/d (barrels per day) from 1,243 bbl/d in the second quarter of 2025. The company's total liquids (oil, condensate, and NGLs) represented 39% of its production.
The total realized price increased by 46% to $37.66/boe in the second quarter of 2026 from $25.77/boe in the prior year comparative period. Petrus' capital expenditures were $11.7 million in the second quarter and $33.2 million for the first six months of 2026.