What PetroTal does

PetroTal is a publicly-traded, Peru-focused oil and gas exploration and production company listed on the TSX (TAL), AIM (PTAL), and OTCQX (PTALF). Incorporated in Alberta, Canada in 2016 with operational offices in Houston and Lima, the company became Peru's largest crude oil producer in early 2022. Its portfolio centers on three Peruvian blocks held at 100% working interest: the flagship Block 95 Bretana/Bretana Norte field in the Maranon Basin, which has produced since June 2018 and is currently constrained by water-handling capacity; the Block 131 Los Angeles field, acquired from Cepsa in November 2024 for approximately $5 million and producing light (40–45° API) crude; and the Block 107 Osheki sub-thrust exploration prospect, which carries a mean unrisked prospective resource estimate of 534 MMBO.

Production relies on horizontal drilling with electric submersible pumps, water injection for reservoir pressure maintenance (approximately 170,000 bwpd reinjection capacity at Bretana), AICD completion technology, and digital oil field monitoring. Q1 2026 average production was 14,907 bopd (14,490 bopd from Bretana and 417 bopd from Los Angeles), and FY2025 full-year production was 19,473 bopd. Year-end 2025 reserves stood at 66.4 mmbbls on a 1P basis and 110.2 mmbbls on a 2P basis, with an after-tax 2P PV-10 of $1.167 billion.

PetroTal generates revenue almost entirely from crude oil sales. Approximately 98% of Q1 2026 volumes were exported through the Brazilian route under crude oil marketing agreements with minimum volume commitments, with the remainder sold domestically to PetroPeru's Iquitos Refinery. Realized prices are tied to Brent, net of tariffs, fees, and differentials (approximately $23.43/bbl of deductions in Q1 2026). FY2025 oil revenue was $316.9 million, Adjusted EBITDA was $166.3 million, and free funds flow was $90.4 million; FY2025 net income of $44.2 million was down from $111.5 million in FY2024, reflecting weaker realized oil prices. As of Q1 2026, the company had $128.1 million in total cash ($104.2 million unrestricted) and approximately 919 million common shares outstanding, implying a market capitalization of approximately $362.9 million.

Name

PetroTal

Legal name

PetroTal Corp.

Website

https://petrotalcorp.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

51–100 employees

Short description

PetroTal is a Peru-focused, publicly-traded oil and gas E&P company and Peru's largest crude oil producer, generating ~$317M in FY2025 oil revenue from Block 95 Bretana and Block 131 Los Angeles at 19,473 bopd average production.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Production

NAICS

Crude Petroleum Extraction (21112), Crude Petroleum Extraction (211120)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Commercial & Fleet Fueling (Cardlock, On-Site Tanks, Bulk Delivery) (EUALAIAD)

Keywords

• Crude oil production
• Oil and gas exploration
• Upstream petroleum operations
• Heavy crude oil sales
• Onshore oil development

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Crude Oil Production and Sales: PetroTal generates revenue primarily from the sale of heavy crude oil produced from its Peruvian oil fields. The company sells approximately 98% of production through the Brazilian export route, with remaining volumes sold domestically to PetroPeru's Iquitos Refinery. Revenue is commodity-price dependent, exposed to Brent crude fluctuations, with approximately 0.9 million barrels hedged through costless collars for 2026.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

PetroTal is a publicly-traded oil and gas development and production company that extracts, develops, and sells heavy and light crude oil from its Peruvian oil fields. The company operates three blocks in Peru: Block 95 (Bretana/Bretana Norte, 100% working interest, the flagship producing asset), Block 131 (Los Angeles field, 100% working interest, acquired from Cepsa in 2024), and Block 107 (Osheki, an exploration prospect). Crude oil is sold primarily through the Brazilian export route and domestically to PetroPeru's Iquitos Refinery.

Product overview

PetroTal is a publicly-traded oil and gas development and production company focused on Peru. Its product portfolio consists of three main operating assets: the flagship Bretana Norte oil field in Block 95 (100% WI, production initiated June 2018, currently constrained by water handling capacity), the Los Angeles field in Block 131 acquired in November 2024 (100% WI, light oil production), and the Osheki exploration prospect in Block 107. The company also operates an erosion control infrastructure project at Bretana financed through a $65M syndicated loan. PetroTal became Peru's largest crude oil producer in early 2022.

Differentiator

Problem solved

Functional benefit

Products and services

• Block 95 - Bretana/Bretana Norte Oil Field The flagship producing asset operated by PetroTal in the Maranon Basin along the Ucayali River in Peru. Contains 24 producing wells using horizontal drilling with ESPs, with infrastructure including barging and pipeline routes to tide-water markets. Represents the company's core heavy crude oil production base.
• Block 131 - Los Angeles Field Development asset in central Peru's Ucayali Basin containing the producing Los Angeles field. PetroTal acquired the asset in November 2024. Current production is light oil (40-45° API) sold to PetroPeru at the Iquitos Refinery under short-term contracts.
• Block 107 - Osheki Prospect Exploration prospect located in the provinces of Puerto Inca (Huanuco region) and Oxapampa (Pasco region). Currently in exploration phase, targeting Cretaceous reservoirs with oil charge from Permian source rocks. Mean estimate unrisked prospective resources of 534 MMBO.

Quantifiable outcome

• 9% production increase in FY 2025 over FY 2024 (19,473 vs 17,785 bopd)
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• Third-Party Drilling ProvidercoreImplementation/ SI/ Consulting Partner · 7 May 2026Contract executed with third-party drilling service provider for development drilling at Bretana field. Rig expected to resume drilling October 2026. Provider currently completing operations in Colombia before demobilization to Peru.
• Cepsa PerucoreStrategic or Co-development Partner · 1 January 2024PetroTal acquired 100% working interest in Peru's Block 131, including the Los Angeles field, from Cepsa for approximately $5 million in November 2024. The Los Angeles field was discovered by Cepsa in 2013. The acquisition provides additional near-term development at minimal entry cost.

Scale indicators15 records

Recent moves6 records

Expansion highlights5 records

Others

• Gulf Keystone Petroleum:

Direct peers

• GeoPark: Independent Latin American E&P company with operations across Colombia, Chile, Brazil, and Argentina. Directly comparable as a small-to-mid cap upstream operator in Latin America producing crude oil for export markets with similar capital structure and growth profile.
• Gran Tierra Energy: Latin America-focused upstream oil and gas company primarily producing crude in Colombia and Ecuador. Highly comparable as a small-mid cap E&P with heavy/light crude mix, similar reserve life profile, and similar dependence on single-country regulatory environments.
• Parex Resources: Colombia-focused upstream E&P producing crude oil for export through the Venezuelan border and other routes. Direct comparable as a Latin American independent E&P with similar production scale (~15-25 kbopd), similar capital allocation philosophy, and similar export-route dependencies.
• Frontera Energy: Latin American upstream E&P with operations primarily in Colombia, Ecuador, and Guyana. Highly comparable to PetroTal given similar operational focus on heavy crude, similar governance history (Camilo McAllister, PetroTal's CFO, previously held a senior role at Frontera), and similar mid-cap public market profile.
• Vista Energy: Latin American upstream E&P company with operations in Argentina (Vaca Muerta) and Mexico. Direct comparable as a publicly traded, growth-oriented independent E&P in Latin America focused on unconventional and conventional crude development, listed across multiple exchanges.
• Serinus Energy: Small-cap international upstream E&P with assets in Tunisia and Romania. Comparable to PetroTal as a small public E&P targeting production growth from a narrow asset base, and a direct professional connection through director Eleanor Barker (also on Serinus's board).
• BPZ Resources: Historical Peru-focused E&P (Corvina field), founded and led by Manolo Zuniga (now PetroTal's CEO) before its restructuring. Most directly comparable peer as the prior iteration of Peru-focused heavy crude operations by the same management team, with overlapping operational and geological expertise in the same basin.

Emerging players

• Condor Petroleum: Small-cap E&P with operations in Kazakhstan and Turkey. Comparable to PetroTal as a small public upstream operator focused on niche regional assets with growth-stage production profiles, though geographically distinct.

Broad incumbents

• Ecopetrol: Colombia's state-owned integrated oil and gas major. Comparable to PetroTal as the dominant regional incumbent where multiple PetroTal executives (Camilo McAllister, Jorge Osorio) previously held leadership positions; relevant for understanding competitive context, regulatory environment parallels, and Latin American oil market dynamics.

Market position

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights1 record

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PetroTal