revenue $51.1M, net income $26.7M. Cherokee Play acquisition announced as Q2 revenue rises 48% on stronger oil prices

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

Key Changes

• high

  Signed $65M acquisition of Cherokee Play producing assets, with up to $6M in additional earn-out payments tied to WTI oil prices through Dec 2027; deal expected to close Q3 2026, funded with cash on hand.

  Notes: Cherokee Play acquisition view on EDGAR →
• high

  Q2 2026 NYMEX oil averaged $95.65/Bbl, up 48% from $64.57/Bbl in Q2 2025, driving total revenue growth of 48.0% to $51.1M despite an 8% decline in natural gas prices to $3.06/Mcf.

  MD&A: NYMEX pricing verify on EDGAR →
• medium

  Production mix shifted toward higher-value oil, rising from 16.7% to 18.3% of total volumes, while NGL declined from 33.9% to 32.1%; natural gas remained flat at approximately 50%.

  MD&A: Production mix verify on EDGAR →