Petrus Resources Sees 92% Jump in Operating Netback Amid Record Production

Petrus Resources Ltd., an oil and gas company based in Alberta, Canada, has announced its second-quarter financial and operating results for 2026. The company reported a significant increase in operating netback, with a 92% rise to $24.9 million ($24.73/boe) compared to the prior year comparative period.

The company's average production for the quarter was 11,070 boe/d, up 21% from the same period last year and 10% from the first quarter of 2026. June production averaged approximately 12,000 boe/d, the highest monthly production in Petrus' history.

Petrus attributed the increase in operating netback to higher oil production and stronger prices for oil and natural gas liquids (NGLs). The company also reported a significant increase in funds flow, with $16.3 million generated in the second quarter of 2026, a 32% rise from the prior year comparative period.

Petrus President and Chief Executive Officer Ken Gray stated that the company enters the second half of 2026 with 'strong operational momentum' and remains focused on delivering on its 2026 guidance. The company's targets for the remainder of the year include annual average production of 11,000 to 12,000 boe/d, capital spending of $50 to $60 million, funds flow of $60 to $65 million, and net debt of approximately $75 to $80 million.