Tethys Petroleum Sees Production Rise Amid Turbine Repairs

Tethys Petroleum reported its Q2 2026 results, showing a 70% increase in oil and gas sales to $10.4 million compared to the same period last year.

The company's net loss for the quarter was $0.01 million, down from a net profit of $1.3 million in Q2 2025.

Tethys attributed the loss to technical failures in gas turbines, which impacted oil production levels and fell short of expectations.

The company is working to repair or replace one of the gas turbines and has purchased a second compressor for its Kul-Bas Central Processing Facility.

Once commissioned, this additional compressor is expected to double gas compression capacity and significantly increase associated gas utilization capacity at the facility.