Lotus Creek boosts 2026 capital budget to $50M, raises production guidance after strong Q1 results

Lotus Creek Exploration reported a strong first quarter in 2026 with adjusted funds from operations rising to $10.6 million, up from $1.6 million in Q1 2025, and production increasing to 4,010 boe per day. The company expanded its 2026 capital budget from $42 million to $50 million to accelerate drilling of light oil wells in Wilson Creek, aiming to replace production lost from recent asset sales. A new oil treater at Wilson Creek is expected to improve profitability and become fully operational in Q2 2026. Lotus Creek also extended its credit facilities to 2028, ensuring liquidity to support growth plans amid volatile oil prices.