Q2 revenue +37% on oil price surge; operating income +88% as gas weakness, LOE climb offset gains

Filed August 6, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 7, 2025 · ~2 min read

Key Changes

• high

  Oil revenue jumped 56% on a 48% NYMEX price surge to $95.65/bbl, though settled derivatives cut realized price by $18.28/bbl (vs +$0.49/bbl gain in Q2 2025), capping upside from the rally.

  MD&A: Oil pricing and derivatives verify on EDGAR →
• high

  Natural gas revenue fell 51% as realized price dropped 30% to $1.64/Mcf, driven by a widening basis differential to $(1.83)/Mcf from $(0.87)/Mcf and weak NYMEX gas prices.

  MD&A: Natural gas pricing verify on EDGAR →
• high

  Lease operating expenses rose 49% to $30.0M ($10.27/Boe) on higher well count, increased saltwater disposal from higher water cuts, and surface equipment rentals.

  MD&A: Lease operating expenses verify on EDGAR →