# Tenaz Energy Reports Record 22,122 boe/d Quarter and Targets 40,000 boe/d by 2030 > Tenaz Energy reported Q3 2026 production of 22,122 boe/d and funds flow of $131.3 million, then guided 2027 output to 26,000-30,000 boe/d. - Published: 2026-11-05T03:56:22+00:00 - Section: Earnings & Results - Author: News Desk - URL: https://newsforagent.com/news/2026-11-05/tenaz-energy-q3-results-2027-guidance - Source: [TradingView](https://www.tradingview.com/news/tmx_newsfile:983cee263094b:0-tenaz-energy-corp-announces-q3-2026-results-2027-guidance-and-long-range-plan/) ## Key takeaways - Tenaz Energy averaged 22,122 boe/d in Q3 2026, up 29% from Q2 2026 and 42% from Q4 2025. - Funds flow from operations reached $131.3 million in Q3 2026 against capital investment of $99.0 million. - The board approved a 2027 capital budget of $300 million to $350 million and production guidance of 26,000 to 30,000 boe/d. - A preliminary long-range plan targets organic production of up to 40,000 boe/d by the end of 2030. Tenaz Energy Corp. reported third-quarter 2026 production of 22,122 boe/d, up 29% from the second quarter, with funds flow from operations of $131.3 million and capital investment of $99.0 million. The Calgary-based company announced the results, 2027 guidance and a long-range plan on November 4, 2026, according to [TradingView](https://www.tradingview.com/news/tmx_newsfile:983cee263094b:0-tenaz-energy-corp-announces-q3-2026-results-2027-guidance-and-long-range-plan/). ## Tenaz's Record Quarter and Dutch North Sea Wells [Tenaz Energy](https://akta.pro/company-profiles/0000zcz/tenaz-energy) is a Calgary-based international exploration and production company and the largest natural gas producer in the Dutch sector of the North Sea, with additional crude production in Alberta. Production rose 42% from the fourth quarter of 2025, which the company said was the first quarter in which both the NAM Offshore and GEMS assets were in its portfolio. In the Netherlands, the K17-FA-103 well (60% working interest) was brought on production late in the third quarter at an initial rate of 18.0 MMcf/d (10.8 MMcf/d net). The K17-FA-102B sidetrack well (60% working interest) encountered 800 meters of gas-saturated sandstone in a new fault block, and fracture stimulation operations are underway. [ONE-Dyas](https://akta.pro/company-profiles/0008t64/one-dyas) completed drilling on the N05-A-Noord Z1X well (32.3% working interest) during the quarter. The well encountered sandstone and gas but at saturations deemed too low to be economical, and it has been suspended while the rig drills the Diamant exploration well (45% working interest). Tenaz said it had no reserves booked to the Noord prospect but carried 3.3 MMboe of net risked prospective resource in its year-end 2025 report. ## Tenaz's 2027 Budget and Long-Range Plan The board approved a 2027 capital expenditure budget of $300 million to $350 million, with production guidance of 26,000 to 30,000 boe/d, which the company said represents year-over-year growth of approximately 40% at the midpoint. The 2027 plan includes drilling 13 wells (7.2 net), nine (3.7 net) in the Dutch North Sea and four (3.5 net) in Canada, plus multiple workover projects. A preliminary long-range plan through 2030 indicates the capability to organically increase production to 40,000 boe/d by the end of 2030. The plan excludes potential M&A opportunities. ## How Tenaz Built Its North Sea Position According to akta.pro [company records](https://akta.pro/company-data), Tenaz acquired North Sea gas assets including interests in the GEMS project for approximately US$244 million in October 2025. In July 2024 it acquired all shares of NAM Offshore B.V. from Nederlandse Aardolie Maatschappij B.V., a joint venture between Shell PLC and ExxonMobil, for approximately EUR 165 million. In May 2026 it extended the ADES Holding Company (Shelf Drilling Winner) jack-up rig contract by three years to a firm commitment worth approximately US$221.93 million. ## Tenaz's Next Steps in the North Sea The K17-FA-102B well is anticipated to be on production by the end of the year. The Diamant Z1 well is drilling into 2027, and ONE-Dyas anticipates a final investment decision on GEMS Phase 2 in mid-2027 with first gas in 2029. ## Companies in this story - [Tenaz Energy company profile](https://akta.pro/company-profiles/0000zcz/tenaz-energy) · website: https://www.tenazenergy.com - [ONE-Dyas company profile](https://akta.pro/company-profiles/0008t64/one-dyas) · website: https://www.onedyas.com - [Eni company profile](https://akta.pro/company-profiles/00004s8/eni) · website: https://www.eni.com/en_IT/home.html --- News for Agent · https://newsforagent.com/llms.txt