Energy Earnings Report — 2026-07-16 to 2026-08-30

25 most recent Energy earnings

1. Aug 21, 2026, 1:48 PM ET·PBT·Energy

   Permian Basin Royalty Trust — August 2026 Earnings Summary

   PERMIAN BASIN ROYALTY TRUST

   Cash distribution declared at $0.018701 per unit for September 15, 2026, representing a decrease from the prior month primarily due to the exclusion of a $1.125 million Blackbeard Operating LLC settlement payment received in July. Texas Royalty Properties generated $1.54 million in revenue and $1.39 million in net profit, with allocated volumes of 14,405 barrels of oil and 5,581 Mcf of gas, though Waddell Ranch properties remain in an excess cost position yielding no proceeds for this period. A definitive Combination Agreement was entered between SoftVest affiliates and Blackbeard Holdings to form a new publicly traded corporation, New PBT, with unitholders holding over 15% of units having requested a special meeting to vote on the transaction. Future distribution guidance remains difficult to predict due to volatile worldwide market conditions affecting pricing and the requirement to recover accrued excess costs from Waddell Ranch properties before future distributions can be made. The Trustee maintains a neutral stance on the proposed Business Combination, declining to solicit proxies or make recommendations, while Blackbeard Operating will provide production and cost data quarterly rather than monthly.

2. Aug 17, 2026, 4:08 PM ET·EP·Energy

   Empire Petroleum — Second Quarter 2026 Earnings Summary

   EMPIRE PETROLEUM CORP

   Reported Q2 2026 total product revenue of $11.1 million (up 27% YoY) and reduced net loss to $1.9 million ($0.05/share) from $5.1 million ($0.15/share) in Q2 2025, driven by a 23% decline in net sales volumes offset by a 1% increase in realized price per Boe to $41.33. Adjusted EBITDA improved to a $0.4 million profit from a $1.2 million loss in the prior year period, supported by a 22% reduction in lease operating expenses to $5.0 million and a 35% decrease in DD&A to $2.0 million. Strategic development momentum is building in Texas with the arrival of the first drilling rig and successful logging of the Wakefield-Harrison GU B #1 well to 21,006 ft, while North Dakota steam injection is scheduled to initiate in Q3 2026 following a major retrofit. Capital position remains supported by a $10.0 million gross proceeds raise from a March 2026 Rights Offering and a $7.5 million at-the-market sales agreement with Roth Capital Partners, though cash on hand stands at $3.1 million with $2.0 million available on the credit facility. Future outlook includes anticipated revenue generation from the Louisiana program through 2026, potential operating expense reductions from the New Mexico Residual Oil Zone matter, and continued expansion of subsurface control across Intermediate and Deep Productive Zones.

3. Aug 17, 2026, 9:01 AM ET·BDCO·Energy

   Blue Dolphin Energy — Second Quarter 2026 Earnings Summary

   BLUE DOLPHIN ENERGY CO

   Total revenue surged to $144.3 million for Q2 2026 from $56.6 million in the prior year period, while net income turned positive at $17.7 million ($1.19/share) compared to a $1.7 million loss in Q2 2025. Consolidated EBITDA improved significantly to $24.4 million for the quarter and $45.1 million for the first half of 2026, up from $0.1 million and $5.1 million respectively in the prior year periods. Refinery Operations drove profitability with $22.9 million in pre-tax income for Q2 2026, reversing a $2.1 million loss from the same period in 2025. Liquidity strengthened substantially, with cash and restricted cash rising to $31.7 million as of June 30, 2026, from $2.0 million at the end of 2025. CEO noted that disciplined operational execution amid market volatility delivered strong results, while a $1.0 million regulatory settlement gain contributed to the six-month financial performance.

4. Aug 17, 2026, 6:31 AM ET·PROP·Energy

   Prairie Operating Co. — Second Quarter 2026 Earnings Summary

   PRAIRIE OPERATING CO

   Q2 2026 revenue surged 45% year-over-year to $98.9 million, while net income turned positive at $193.8 million ($1.75 basic EPS) compared to a prior-year loss of $45.0 million; Adjusted EBITDA rose 65% to $34.0 million. Management raised full-year 2026 guidance for production to 23,000–25,000 Boe/d, capital expenditures to $185.0–$195.0 million, and Adjusted EBITDA to $180.0–$190.0 million, citing August production of ~27,000 Boe/d. The company maintains a working capital deficit of $125.5 million with $436.0 million outstanding on a $475.0 million credit facility, though it generated $52.0 million in net operating cash flow for the quarter. Strategic initiatives include partial refinancing of Series F Preferred Stock, a credit facility amendment modifying covenants, and successful technical milestones such as the first three-mile lateral and cost-saving wellbore trials.

5. Aug 13, 2026, 5:10 PM ET·DWSN·Energy

   Dawson Geophysical Company — Second Quarter 2026 Earnings Summary

   DAWSON GEOPHYSICAL CO

   Total revenue surged 82% year-over-year to $17.9 million, while year-to-date fee revenue rose 94% to $46.5 million; Adjusted EBITDA improved $1.8 million to $0.6 million for the quarter and jumped 875% year-to-date to $11.5 million. Net loss for the quarter was $3.4 million ($0.11 per share), impacted by $1.7 million in strategic transaction costs, whereas year-to-date net income was $4.2 million ($0.14 per share) after $2.4 million in similar costs. Management expects demand for high-density seismic services to increase significantly pending the success of current channel count tests, with increased bid activity anticipated in Canada for Q4 2026 and 2027. The company is engaged in discussions with controlling stockholder Wilks Brothers, LLC regarding potential asset contributions or business combinations, though no definitive agreement is guaranteed; a special committee of independent directors has been formed to evaluate these transactions. The Board approved a $3 million capital budget for 2026, and the company continues to deploy new single node channels to improve data delivery speed and competitive advantage, with seasonal Canadian operations scheduled to resume in Q4 2026.

6. Aug 13, 2026, 4:06 PM ET·PED·Energy

   PEDEVCO — Second Quarter 2026 Earnings Summary

   PEDEVCO CORP

   Revenue surged 561% year-over-year to $46.1 million and net income turned positive at $17.5 million ($1.31/share), reversing a $1.7 million loss in Q2 2025, driven by a 348% production volume increase to 6,801 Boe/d and higher average realized oil prices. Adjusted EBITDA rose 516% to $18.7 million, while net debt decreased to approximately $73 million as the company reduced revolver borrowings from $98 million to $85 million and improved its working capital deficit by roughly $25 million in H1 2026. Following the October 2025 Juniper Merger, the company expects production to dip in July before recovering in late 2026 and 2027 as the Hastings well begins contributing and over 20 new gross wells are drilled or participated in. The company maintains a disciplined development focus with $40.0 million of additional availability under its A&R Credit Agreement, aiming to balance growth with low leverage and balance sheet strength.

7. Aug 13, 2026, 6:35 AM ET·ANNA·Energy

   AleAnna, Inc. — Second Quarter 2026 Earnings Summary

   ALEANNA INC

   Q2 2026 net income surged to $3.8 million from $0.6 million in the prior year period, while total revenues rose 155% to $10.2 million, driven by the Longanesi field. Adjusted EBITDA reached $4.1 million for the quarter, up from $0.8 million year-over-year, marking the fifth consecutive quarter of positive Adjusted EBITDA and net income. The Gradizza field development project transitioned from planning to execution in Q2 2026, with construction commencing to establish the company's first wholly owned and operated production asset. Total Proved Reserves volumes increased 47% compared to year-end 2024, and the balance sheet strengthened with stockholders' equity rising to $65.9 million as of June 30, 2026. Management confirmed the Longanesi field is on track to outperform initial expectations and highlighted a strategic focus on increasing exposure to operated assets to support Italy's energy security.

8. Aug 12, 2026, 5:14 PM ET·WHK·Energy

   WhiteHawk Minerals Corp. — Second Quarter 2026 Earnings Summary

   WHITEHAWK MINERALS CORP

   Q2 2026 revenue reached $29.1 million (up 38% YoY, 40% QoQ), while Adjusted EBITDA rose 104% YoY to $20.7 million; however, the company reported a net loss of $39.2 million ($2.54/share) driven by $21.7 million in debt extinguishment losses and $15.8 million in non-recurring management fees. The Board initiated a quarterly dividend of $0.50 per share ($2.00 annualized), with an initial prorated payment of $0.11/share payable August 28, 2026, alongside a CAD of $17.4 million ($0.63/share diluted). Nine acquisitions totaling $111.8 million were signed since the June 10 IPO, expected to generate 16–17 MMcfe/d and $17.0–$18.5 million in incremental cash flow by 2027–2028, funded via $50.0 million Series E Preferred Stock and existing liquidity. Net production averaged 70.0 MMcfe/d (up 57% YoY), with a leverage ratio of 0.67x and $13.2 million in cash on hand as of June 30, 2026.

9. Aug 12, 2026, 4:52 PM ET·MXC·Energy

   Mexco Energy Corporation — Q1 Fiscal 2027 Earnings Summary

   MEXCO ENERGY CORP

   Net income surged 107% year-over-year to $501,065 ($0.24 per diluted share), driven by a 13% revenue increase to $1.98 million despite a 15% drop in oil production and a 49% decline in natural gas prices. The company deployed approximately $2.1 million of existing cash to acquire oil and gas royalty properties, aligning with its core strategy of securing interests with development potential. Fiscal 2027 guidance targets the drilling of 53 horizontal wells and completion of 20, with an estimated aggregate cost of $1.8 million, of which $620,000 has been expended to date. Operations remain concentrated in the Permian Basin, with management continuing to evaluate additional drilling prospects for the remainder of the fiscal year.

10. Aug 12, 2026, 4:37 PM ET·BATL·Energy

    Battalion Oil Corporation — Second Quarter 2026 Earnings Summary

    BATTALION OIL CORP

    Reported Q2 2026 total operating revenues of $48.1 million, up from $42.8 million in Q2 2025, while net income turned positive at $9.1 million ($0.34/share) compared to a $3.5 million loss in the prior year period. Net debt decreased to $74.2 million from $108.3 million in Q1 2026, improving the leverage ratio to 1.36x from 1.79x, supported by $55.9 million in net proceeds from ATM equity placements. Completed refinancing of senior secured credit facility extending maturity to December 2029 with a fixed margin of 6.50% over SOFR, while securing additional compression capacity to support production growth starting mid-Q3. Initiated a new joint exploration and development agreement for up to eight wells in Monument Draw with drilling expected to commence before August 2026, alongside a transition to a multi-bench development program funded by cash on hand. Adjusted EBITDA declined to $12.3 million from $18.1 million in Q2 2025, impacted by $7.8 million in realized hedge losses and increased gathering expenses due to a new long-term processing agreement.

11. Aug 12, 2026, 11:02 AM ET·NGS·Energy

    Natural Gas Services Group — Q2 2026 Earnings Summary

    NATURAL GAS SERVICES GROUP INC

    Record Financial Performance: Rental revenue reached a record $49.4 million (up 25% YoY, 5% sequentially), driving adjusted EBITDA to a record $25.1 million (up 27.4% YoY); adjusted net income was $6.1 million ($0.47/share) excluding $3.3 million in Flatrock transaction costs. Raised Full-Year Guidance: Management increased 2026 adjusted EBITDA guidance to $103 million–$108 million and growth capital expenditure guidance to $60 million–$80 million, reflecting strong organic execution and the addition of Flatrock. Strategic Milestones & Capital Allocation: Completed the $120 million Flatrock acquisition in June 2026, adding 87,000 rented horsepower; maintained a $0.15 per share quarterly dividend (50% higher than prior year) while reducing DSO to ~33 days pro forma. Operational Outlook: Expecting to deploy at least 55,000 horsepower organically in 2026 with growth CapEx accelerating in H2 to meet contracted schedules, despite continued inflationary pressure on labor and parts costs.

12. Aug 11, 2026, 6:25 PM ET·BRN·Energy

    Barnwell Industries, Inc. — Third Quarter Ended June 30, 2026 Earnings Summary

    BARNWELL INDUSTRIES INC

    Revenue rose to $3,379,000 from $2,535,000 in Q2 2026 and $3,192,000 in Q3 2025; net loss narrowed to $403,000 from $1,116,000 in the prior quarter, while Adjusted EBITDA turned positive at $425,000 versus negative $369,000 previously. Production increased 9% sequentially to 75,000 BOE, and the company maintained a debt-free balance sheet with $4,467,000 in cash and $3,070,000 in working capital. Strategic initiatives include evaluating a potential sale of the Canadian oil and gas business, pursuing transformative M&A across industries, and completing a definitive agreement to sell remaining Hawaii real estate interests for approximately $1,550,000. Operational efficiencies drove a 12% decline in salaries and wages and an 8% sequential drop in cash general and administrative expenses to $1,280,000, alongside the completion of the corporate transition to a lower-cost Houston platform.

13. Aug 11, 2026, 4:52 PM ET·SLNG·Energy

    Stabilis Solutions — Second Quarter 2026 Earnings Summary

    STABILIS SOLUTIONS INC

    Second quarter 2026 revenue declined 31.2% year-over-year to $11.9 million, while net loss widened to $4.6 million ($0.25 per share) from $0.6 million in the prior year period, driven by $2.9 million in expenses from a terminated marine vessel charter. Management views 2026 as a transition year with revenues expected to increase over 50% in the second half, projecting a record 2027 with full-year revenues ramping to well over $100 million. Strategic milestones include a U.S. Coast Guard Letter of Recommendation for the Galveston LNG facility, the execution of a new data center LNG contract commencing Q3 2026, and a multi-year supply agreement launching in early 2027. Aerospace customer revenues grew 71% year-over-year, and the company maintains $18.9 million in total liquidity despite total liabilities rising to $40.9 million due to increased noncurrent deferred revenue.

14. Aug 11, 2026, 4:01 PM ET·SND·Energy

    Smart Sand, Inc. — Second Quarter 2026 Earnings Summary

    SMART SAND INC

    Revenue reached $115.1 million in Q2 2026, a 25% sequential increase from Q1 and a 34% year-over-year rise from Q2 2025, while net income turned positive at $10.2 million ($0.26/share) compared to a $3.9 million loss in Q1 2026 and $21.4 million in Q2 2025. Adjusted EBITDA surged to $18.7 million, up from $3.8 million in Q1 2026 and $7.8 million in Q2 2025, driven by a 25% sequential increase in tons sold to 1.86 million and improved contribution margins of $14.54 per ton. Management raised 2026 sales volume guidance to a 10% to 20% increase over 2025 levels, expects full-year positive free cash flow, and projects capital expenditures between $15.0 million and $20.0 million. The company returned approximately $12.1 million to shareholders year-to-date via share repurchases and dividends, including a new $20.0 million repurchase program authorized through April 2028 and a special dividend of $0.10 per share. Leadership transitions are scheduled for January 1, 2027, with James Young succeeding Lee Beckelman as CFO and Stephen Brill promoted to General Counsel, while long-term growth is supported by expanding LNG export capacity and AI data center power demand.

15. Aug 11, 2026, 8:01 AM ET·BSIN·Energy

    Big Sky Industrial Inc. — Second Quarter 2026 Earnings Summary

    BIG SKY INDUSTRIAL INC

    Q2 2026 revenue rose 5% year-over-year to $2.1 million, while production fell 31% to 33,747 BOE; net loss narrowed to $2.3 million ($0.04/share) from $6.1 million in Q2 2025, driven by higher realized prices ($63.24/BOE vs. $41.54) and lower lease operating expenses. Strategic pivot milestones advanced with Phase 1 facility construction on schedule, a five-year 100% take-or-pay helium offtake agreement secured at $285/Mcf, and commercial operations targeted for Q1 2027. Liquidity strengthened to $21.5 million (including $17.5 million undrawn credit capacity) following a credit facility amendment that doubled the borrowing base to $20 million and suspended covenant testing through March 2027. Total debt increased to $4.5 million as of June 30, 2026, with a subsequent $4.0 million draw post-quarter end to fund capital expenditures, while the strategic divestiture program to fund the industrial gas transition is substantially complete.

16. Aug 11, 2026, 6:31 AM ET·VG·Energy

    Venture Global — Q2 2026 Earnings Summary

    VENTURE GLOBAL INC

    Q2 2026 revenue surged 48% YoY to $4.6 billion, while net income attributable to common stockholders jumped 266% to $1.3 billion; full-year 2026 Consolidated Adjusted EBITDA guidance was raised to $8.7 billion–$9.1 billion. The company delivered its 1,000th LNG cargo and secured over 2 MTPA in new or increased offtake agreements, with Plaquemines Phase 1 targeted for Q4 2026 commercial operation and CP2 on schedule for late 2027 first LNG. Capital structure was strengthened through the issuance of $2.25 billion in senior secured notes and a $1.75 billion term loan to refinance existing debt, while a Q3 cash dividend of $0.04 per share was declared, representing a 122% increase. Total assets grew to $61.5 billion and long-term debt increased to $41.5 billion as of June 30, 2026, reflecting ongoing project construction and expansion activities.

17. Aug 10, 2026, 9:34 PM ET·EROK·Energy

    EagleRock — Second Quarter 2026 Earnings Summary

    EAGLEROCK LAND LLC

    Revenue reached $41.5 million, a 73.7% year-over-year increase from $23.9 million in Q2 2025, while the net loss narrowed to $(37.5) million from $(70.8) million in the prior year period. Normalized Adjusted EBITDA grew 31.7% quarter-over-quarter to $36.2 million, and Free Cash Flow surged to $22.2 million from $4.4 million in Q1 2026. Full-year 2026 Normalized EBITDA guidance was raised to a range of $129 million to $133 million, exceeding the original internal forecast. Strategic milestones include the completion of an IPO raising $368 million in May 2026, the acquisition of Intrepid Ranch for $78.2 million in August 2026, and the full repayment of the predecessor credit facility in June 2026.

18. Aug 10, 2026, 5:23 PM ET·SOC·Energy

    Sable Offshore Corp. — Second Quarter 2026 Earnings Summary

    SABLE OFFSHORE CORP

    Generated first full quarter of revenue at $137.1 million with $9.4 million positive operating cash flow, offset by $18.5 million in non-recurring demurrage charges due to California regulatory constraints. Reduced 2H 2026E capital expenditure midpoint by 41% to $85 million to optimize cash flow and accelerate debt amortization; raised 2027 expected oil ratio to ~100% from 91%. Issued $115 million in common stock and completed refinancing extending maturity to 2028, establishing a $675 million Senior Secured Term Loan B and $345 million Convertible Senior Notes. Net sales volumes grew 149% to ~40,000 Bo/d by quarter-end; provided 2H 2026E guidance of 40,000 net Bo/d and FY 2027E guidance of 42,500 net Bo/d assuming normalized operations. Facing temporary downstream throughput constraints of 40,000 gross Bo/d and quality deducts due to sulfur content, with relief expected in late August and broader infrastructure improvements anticipated in 2027.

19. Aug 10, 2026, 4:38 PM ET·SMC·Energy

    Summit Midstream Corporation — Second Quarter 2026 Earnings Summary

    SUMMIT MIDSTREAM CORP

    Net income turned positive at $4.6 million versus a $4.2 million loss in Q2 2025, while Adjusted EBITDA reached $60.7 million (down slightly from $61.1 million in Q2 2025 but up 12% from Q1 2026); total revenues rose to $155.0 million from $140.2 million year-over-year. Management tightened full-year 2026 Adjusted EBITDA guidance to $235–$255 million and increased full-year capital expenditure guidance to $100–$120 million to fund high-returning growth projects in the Rockies and Permian, including 30 additional Williston wells. A $35 million stock repurchase program was established with $34.0 million in remaining capacity as of June 30, 2026, while the Board continued to suspend common stock cash dividends; Series A Preferred dividends remain payable in September. Operational highlights include 36 new well connections, a 9.9% increase in Mid-Con natural gas throughput, and a 6.3% rise in aggregate liquids volumes, though the Piceance segment faced temporary volume declines due to shut-ins. Balance sheet strength remains robust with total leverage at 4.1x, $21.0 million in unrestricted cash, and $418 million of borrowing availability under the ABL Revolver.

20. Aug 10, 2026, 4:24 PM ET·INR·Energy

    Infinity Natural Resources — Second Quarter 2026 Earnings Summary

    INFINITY NATURAL RESOURCES INC

    Total revenues surged to $171.0 million in Q2 2026 from $74.5 million in Q2 2025, while net income declined to $108.0 million ($0.88 per diluted share) from $1.18 per diluted share in the prior year period. Adjusted EBITDAX increased 131% year-over-year to $114.7 million with a margin of $3.62 per Mcfe, and net cash from operating activities rose 136% quarter-over-quarter to $137.9 million. The company maintained 2026 guidance for a capital budget of $450–$500 million and net production between 345–375 MMcfe/d, following the rapid integration of the Antero Acquisition which drove a 75% increase in net daily production. Financing activities included the issuance of $550 million in senior notes and Series A Preferred Stock, while liquidity stood at $900.9 million with $72.3 million remaining under the share repurchase program.

21. Aug 10, 2026, 4:21 PM ET·KLXE·Energy

    KLX Energy Services Holdings, Inc. — Second Quarter 2026 Earnings Summary

    KLX ENERGY SERVICES HOLDINGS INC

    Revenue reached $167.3 million, a 15.6% sequential increase, while net loss narrowed to $(8.4) million from $(24.0) million in Q1 2026; Adjusted EBITDA rose 68% to $18.7 million with margins expanding to 11.2%. The company closed the Wolf Pack Acquisition on June 2, 2026, contributing $3.4 million in June revenue and recording a $6.5 million bargain purchase gain, with full-year synergy estimates increased to approximately $2.5 million. Q3 2026 revenue guidance is set at $176 million to $188 million (midpoint $182 million), implying mid-single-digit sequential growth in the base business excluding Wolf Pack. Levered and unlevered free cash flow turned positive at $4.1 million and $6.6 million respectively, compared to negative figures in Q1, though net working capital decreased 15% to $46.0 million due to acquisition-related liabilities. Management confirmed the base business grew over 13% sequentially, outpacing the 5.8% increase in the U.S. Land Rig Count, and noted a $125 million backstopped rights offering will be discussed on the upcoming conference call.

22. Aug 10, 2026, 4:20 PM ET·AMPY·Energy

    Amplify Energy — Second Quarter 2026 Earnings Summary

    AMPLIFY ENERGY CORP

    Reported net income of $17.3 million in Q2 2026, a turnaround from a $38.1 million net loss in Q1, driven by a $22.6 million non-cash unrealized gain on commodity derivatives; Adjusted EBITDA rose to $8.6 million from $3.8 million in the prior quarter. Updated full-year 2026 guidance to lower lease operating expenses to $80.0–$95.0 million and capital investment to $45.0–$55.0 million, while maintaining Adjusted EBITDA guidance of $30.0–$40.0 million; production guidance was adjusted downward to 7.0–7.5 MBbls/d. Announced a new share repurchase program authorizing up to $15.0 million of common stock, citing the Board's view that shares trade at a meaningful discount to net asset value. Total production averaged 6.8 MBopd in Q2 2026, a 6% increase quarter-over-quarter, supported by royalty relief at the Beta Field (reducing burden from 25% to 12.5%) and an amended CO₂ agreement at Bairoil expected to yield $10 million in annual cost savings. Maintained a debt-free position with $36.2 million in total liquidity as of June 30, 2026, while hedging 70–75% of expected 2026 PDP production and 55–65% of 2027 production.

23. Aug 10, 2026, 4:01 PM ET·NGS·Energy

    Natural Gas Services Group, Inc. — Second Quarter 2026 Earnings Summary

    NATURAL GAS SERVICES GROUP INC

    Total revenue increased 24.2% year-over-year to $51.4 million, while Adjusted EBITDA rose 27.4% to $25.1 million; however, net income declined to $3.8 million ($0.30/share) from $5.2 million ($0.41/share) in the prior year quarter, primarily due to $3.3 million in strategic transaction costs related to the Flatrock Acquisition. The company raised full-year 2026 Adjusted EBITDA guidance to $103–$108 million from a prior range of $92.5–$97.5 million, supported by record horsepower utilization of 88.3% and the recent acquisition of Flatrock Compression Holdings, which added 87,233 rented horsepower. Strategic capital deployment included $108.7 million for the Flatrock acquisition and $18.8 million in capital expenditures, resulting in $127.5 million in investing cash outflows; outstanding debt on the revolving credit facility stands at $328.0 million with a leverage ratio of 2.77x. Management announced a third-quarter dividend of $0.15 per share and expects to deploy at least 55,000 horsepower organically in 2026, citing constructive industry fundamentals driven by constrained equipment supply and growing demand from LNG exports and power generation.

24. Aug 10, 2026, 8:06 AM ET·CRC·Energy

    California Resources Corporation — Second Quarter 2026 Earnings Summary

    CALIFORNIA RESOURCES CORP

    Reported net income of $514 million, a significant turnaround from a $711 million loss in Q1 2026 and $172 million in Q2 2025, while adjusted EBITDAX rose to $338 million from $304 million in Q1 2026 and $267 million in Q2 2025. Reaffirmed full-year 2026 capital outlook of $520–$560 million but reduced drilling, completions, and workover capital guidance by $10 million to $370–$390 million; Q3 2026 adjusted EBITDAX guidance is set at $285–$325 million. Achieved over 100% of annual Berry merger synergy targets ($103 million annualized savings) six months early and announced a definitive agreement to acquire Crimson Midstream Holdings for $63 million. Returned $36 million to shareholders via dividends in Q2 2026, declared a new quarterly dividend of $0.405 per share, and ended the quarter with $1,322 million in liquidity following a $550 million senior notes offering and $573 million debt redemption. Operational headwinds from temporary takeaway constraints and higher transportation costs reduced Q2 adjusted EBITDAX and operating cash flow by approximately $25 million, though net production averaged 149 MBoe/d with 81% oil content.

25. Aug 10, 2026, 7:30 AM ET·INSW·Energy

    International Seaways — Second Quarter 2026 Earnings Summary

    INTERNATIONAL SEAWAYS INC

    Net income surged to $295 million ($5.91 per share) in Q2 2026 from $62 million ($1.25 per share) in Q2 2025, while shipping revenues more than doubled to $467 million from $196 million; adjusted EBITDA and free cash flow also reached record highs of $345 million and $261 million, respectively. The Board declared a record quarterly dividend of $5.05 per share, maintaining a payout ratio of at least 85% of adjusted net income for the third consecutive quarter, alongside an active $50 million share repurchase program. Fleet expansion continues with two remaining LR1 newbuildings expected in Q3 2026 and four additional LR1s contracted for 2028 delivery, all set to join the Panamax International Pool upon completion. Strategic momentum includes the full acquisition of Tankers International to expand Suezmax commercial management and a new three-year time charter for a 2017-built Suezmax securing approximately $45 million in future revenue. The company maintains a robust balance sheet with $935 million in total liquidity, a net loan-to-value ratio of 6%, and the capacity to invest opportunistically while adhering to disciplined capital allocation.