Tuktu Resources Reports 41% Decline in Sales as Operating Netbacks Rise

Tuktu Resources Ltd., a publicly traded junior oil and gas development company based in Calgary, Alberta, released its financial and operating results for the second quarter of 2026. The company reported petroleum and natural gas sales of $1,447,291, down 41% from the same period in 2025.

The decrease in sales was attributed to a drop in production volumes, which averaged 393 boe/d (70% natural gas, 30% crude oil) compared to 622 boe/d (52% natural gas, 48% crude oil) in Q2 2025. Oil production declined to 116 bbl/d due to natural production declines from the Company's light oil discovery well.

The company's operating netbacks increased to $10.09/boe from $9.66/boe in 2025, while royalties decreased to $6.57/boe from $11.95/boe in 2025. The decrease in royalties was offset by lower realized sales prices of $40.47/boe from $43.09/boe in 2025.

Tuktu continues to advance the Monarch oil asset using its data-led approach, with seismic data confirming anomalies and improving imaging of subsurface geology. The company has signed a non-binding MOU with a clean energy provider for the future delivery of 'Renewable Natural Gas' (RNG-Biogas) to the 100% owned Foothills gas facility.