revenue $581.4M, net income $49.5M. Q2 revenue +36%, operating income +73% on higher NGL volumes; dividend

Filed August 6, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 8, 2025 · ~2 min read

Key Changes

• high

  Operating income surged 73% YoY to $134.0M in Q2 2026, driven by 58% product revenue growth from higher NGL/condensate volumes (+40%) and sharply higher condensate prices (+56%).

  MD&A: Operating Results verify on EDGAR →
• high

  Service revenue fell 23% YoY to $86.9M as gathered gas volumes declined 5% and more fee revenue was netted in cost of sales under principal accounting.

  MD&A: Service Revenue verify on EDGAR →
• medium

  Litigation-related fees surged $12.0M in H1 2026, driving G&A up 14%; the company now holds an immaterial reserve for the Energy Transfer NGL contract dispute (bench trial held March/April 2026, second trial scheduled October 2026).

  MD&A: G&A Expenses; Notes: Litigation verify on EDGAR →