Lotus Creek Exploration Inc. produced 3,417 barrels of oil equivalent (boe) per day during the second quarter of 2026, comprising 1,584 barrels of crude oil, 745 barrels of natural gas liquids, and 6,528 thousand cubic feet of natural gas per day. The company recorded net income of $5.8 million for the period, a figure that includes a $5.5 million unrealised gain on risk management contracts.

During the quarter, the company completed the sale of non-core assets in Tableland, Saskatchewan, for $13.0 million in aggregate proceeds. Lotus Creek used these funds to repay debt outstanding under its credit facilities. As of June 30, 2026, the company reported nil drawn on its credit facilities and a net debt position of $1.2 million.

Operational efforts are centred on the Wilson Creek project in Alberta. Following a redesign of downhole configurations in the second quarter, production in July increased by approximately 300 boe per day compared to June. Additionally, the company drilled one Belly River channel well that came on stream in July with a total cost of approximately $4.3 million. By the end of July, this well was producing at restricted rates of approximately 920 boe per day.

Lotus Creek plans to optimize production at this new Belly River well during early August 2026. Furthermore, the company successfully drilled four additional gross Belly River light oil wells at Wilson Creek after the end of the second quarter. These wells, which averaged eight days from spud to rig release at a cost of approximately $2.2 million each, are expected to be completed and brought on stream during the third quarter of 2026.

These activities support the company’s objective to reach an average fourth-quarter production guidance of 4,800 to 5,200 boe per day.

Read the full announcement: Lotus Creek Exploration Inc. Announces Second Quarter 2026 Operating Results