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Tuktu Resources reports 38% drop in production and $2.58M loss in Q1 2026 amid lower oil output

Company Fundamentals
20 May 2026
Newsfile Corp
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Bearish
pluang ai news

Tuktu Resources Ltd. announced a 38% decrease in production to 434 barrels of oil equivalent per day in Q1 2026, driven by a 59% drop in crude oil output to 146 barrels per day. The company reported a net loss of $2.58 million, significantly higher than the previous year's loss, due to reduced sales and lower capital expenditures as it assesses its Monarch property. Despite lower realized prices and production, operating costs and royalties also declined, partially offsetting the impact. Tuktu continues to focus on evaluating its assets amid challenging market conditions.

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