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Thursday, August 6, 2026

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Interesting Company News Today

Kelt Exploration Reports Financial and Operating Results for the Three Months Ended June 30, 2026

(TSX: KEL) Kelt Exploration Ltd. reported financial and operating results for the second quarter ended June 30, 2026, with petroleum and natural gas sales of $222,166,000 and adjusted funds from operations of $108,725,000. Average daily production reached a record high of 50,388 BOE per day, up 30% from 38,734 BOE per day in the same period of 2025, with production weighted 39% oil and NGLs and 61% gas. Net income for the quarter was $44,679,000, and net capital expenditures were $137,871,000. The company sold an average of 110 long tons of sulphur per day at an average net price of $919.44 per long ton, adding $9,200,000 to funds from operations. At June 30, 2026, net debt was $242,141,000, equating to 0.6 times forecasted 2026 adjusted funds from operations of $410,000,000. The company forecasts 2026 production to average between 50,000 and 52,000 BOE per day and adjusted funds from operations for 2026 to be $410,000,000, with a capital expenditure budget of $375,000,000. Mr. Patrick Miles, Vice President, Exploration, will retire effective August 12, 2026, and Mr. David White has been appointed as his successor.

TAG Oil Spuds T-200 Well at the BED-1 Concession in Egypt

(TSXV: TAO) (OTCQB: TAOIF) TAG Oil Ltd. announced the start of drilling operations at its T-200 vertical well at the Badr Oil Field ("BED-1") in Egypt's Western Desert. The well was successfully spudded on August 6, 2026. The T-200 well is targeting the Abu Roash "F" ("ARF") formation, a naturally fractured reservoir, and is planned for a total depth of approximately 4,200 meters. Drilling and completion operations are expected to take approximately 60 days. Upon successful completion, the well is expected to be brought into production immediately through the Company's planned early production facility, allowing TAG Oil to evaluate production rates, reservoir performance and future development potential. The company expects to provide updates as drilling progresses and will report results following completion and testing of the T-200 well. TAG Oil is a Canadian-based international oil and gas exploration company with a focus on operations and opportunities in the Middle East and North Africa.

Jersey Oil & Gas: Greater Buchan Area Update

(AIM:JOG) Jersey Oil & Gas plc announced that the North Sea Transition Authority (NSTA) has approved an extension to the Second Term of the P2170 "Verbier" licence, aligning its duration with that of the P2498 "Buchan Horst" licence. The Second Term of the P2170 licence has now been extended by approximately six months, to 28 February 2027. JOG holds a 20% interest in each of licences P2498 (Blocks 20/5a, 20/5e and 21/1a) and P2170 (Blocks 20/5b and 21/1d) located in the UK Central North Sea. The company is in the process of establishing a work plan and budget for next year to support progression of the GBA and the licence extensions. The company projects that work on these activities will continue into 2027 and that a request to extend the Second Term of the Buchan licence will be made to the NSTA towards the end of this year. The company also notes that hydrocarbons continue to account for around 75% of total energy usage in the UK. The company urges the government to bring an early end to the Energy Profits Levy and to deliver fiscal and regulatory reforms required to unlock long term investment.

Harbour Energy: 2026 Half-year Results

(LSE:HBR) Harbour Energy plc announced unaudited half-year results for the six months ended 30 June 2026, reporting record production of more than 500,000 barrels per day and launching a new $250 million share buyback. The company achieved increased production of 509 kboepd, up 4% from H1 2025, with revenue rising to $6.4 billion (H1 2025: $5.3 billion) and free cash flow over the period of $1.8 billion (H1 2025: $1.4 billion). Harbour completed the $3.2 billion LLOG Exploration (US) acquisition in February and the Waldorf (UK) acquisition post period end, while divesting non-core assets in Indonesia. Unit operating costs averaged $13.3/boe (H1 2025: $12.4/boe), and period-end net debt and leverage were $5.4 billion and 0.7x, respectively. An interim dividend of 8.05 cents per voting ordinary share ($150 million) will be paid in September, in line with the minimum annual dividend policy of 16.10 cents per share. The company projects full year 2026 production guidance of 490-500 kboepd, total capital expenditure of $2.2-$2.4 billion, and a minimum of $800 million to be returned to shareholders for 2026.

Tenaz Energy Announces Q2 2026 Results

(TSX: TNZ) Tenaz Energy Corp. announced financial and operating results for the second quarter of 2026, reporting production that averaged 17,125 boe/d in Q2 2026, up 6% from Q1 2026 and more than double Q2 2025, due to organic development and two major acquisitions completed in 2025. Funds flow from operations for the second quarter was $74.2 million ($2.26 per basic share), compared to $64.6 million ($2.02 per basic share) in Q1 2026. Capital investment for the second quarter was $58.2 million, resulting in Q2 2026 free cash flow of $16.0 million. Net income of $89.0 million was recorded in Q2 2026, compared to a net loss of $111.1 million in Q1 2026, with a $94 million unrealized gain on derivative instruments. Tenaz ended Q2 2026 with a net debt position of $378.2 million, a decrease of $11.2 million over the previous quarter. During Q2 2026, Tenaz repurchased 143,100 shares at a weighted average price of $49.78 per share, and since 2022 has retired 2.6 million shares at an average cost of $8.06 per share. The company projects preliminary production for July 2026 of approximately 23,000 boe/d (90% European natural gas) and expects to deliver strong growth in the second half of the year.

Strathcona Resources Reports Second Quarter 2026 Financial and Operating Results and Announces Quarterly Dividend

(TSX: SCR) Strathcona Resources Ltd. reported second quarter 2026 financial and operating results, including production of 117,022 boe/d (99.7% liquids) and Operating Earnings of $376 million ($1.76 per share). Free Cash Flow for the quarter was $296 million ($1.38 per share), a record for the company. The Board of Directors declared a quarterly dividend of $0.30 per common share, payable on September 21, 2026 to shareholders of record on September 11, 2026. The Meota Central project was completed at a total installed cost of approximately $345 million (3% under budget) over 18 months (2 months, or 9% ahead of budget), achieving first steam on June 6, 2026 and first oil in late July, with a targeted peak rate of approximately 13,000 bbls/d by mid-2027. Strathcona exercised its $265 million accordion under its bank credit facility, increasing total capacity to approximately $3.755 billion, and subsequently amended and extended the facility to December 31, 2030, adding a $750 million accordion for total potential credit capacity of $4.505 billion. At the end of Q2, Strathcona was approximately $1.9 billion drawn on the facility, leaving more than $1.8 billion in available liquidity. The company projects 2026 exit production of approximately 135 Mbbls/d and maintains its 2026 capital budget of $1.0 billion.

Riley Exploration Reports Second Quarter 2026 Results

(NYSE: REPX) Riley Exploration Permian, Inc. reported financial and operating results for the second quarter ended June 30, 2026, including 34.3 MBoe/d of total equivalent production and oil production of 21.2 MBbls/d. The company generated $166 million in revenues, $87 million of net income, $64 million of operating cash flow, and $80 million of Adjusted EBITDAX. Total accrual capital expenditures before acquisitions were $87 million, and cash capital expenditures before acquisitions were $68 million, with a $6 million Total Free Cash Flow. The company increased debt by $26 million, ending the quarter with a debt-to-Adjusted EBITDAX ratio of 1.0x and a combined principal value of debt of $273 million. Riley Permian revised its full-year 2026 guidance to reflect higher forecasted oil production and total capital expenditures and investments, now targeting full-year oil production guidance implying approximately 30% year-over-year growth in 2026. The company estimates that temporary shut-ins reduced second quarter production by approximately 1.9 MBbls/d due to midstream constraints in New Mexico. The company projects the in-service date of new Targa pipeline infrastructure in Eddy County, New Mexico to occur in the fourth quarter of 2026.

Star Group Reports Fiscal 2026 Third Quarter Results

(NYSE:SGU) Star Group, L.P. reported a 17.2 percent increase in total revenue to $358.1 million for the fiscal 2026 third quarter, compared with $305.6 million in the prior-year period. The amount of home heating oil and propane sold during the fiscal 2026 third quarter declined by 3.4 million gallons, or 9.4 percent, to 32.8 million gallons. Star’s net loss rose by $11.4 million in the quarter, to $28.0 million, primarily due to an unfavorable change in the fair value of derivative instruments of $8.6 million and a $7.1 million increase in Adjusted EBITDA loss. For the nine months ended June 30, 2026, Star reported an 8.3 percent increase in total revenue to $1.7 billion, and net income increased $13.9 million, to $116.1 million, compared to the prior-year period. Year-to-date Adjusted EBITDA increased $19.9 million, to $189.3 million, compared to the nine months ended June 30, 2025. The company did not complete any acquisitions this quarter but is actively assessing a number of possible attractive opportunities. Management states that Star remains in great shape for the quarters to come and continues to invest in its service and installation business.

Lotus Creek Exploration Announces Second Quarter 2026 Operating Results

(TSXV: LTC) Lotus Creek Exploration Inc. reported second quarter 2026 production of 3,417 boe per day, comprised of 1,584 bbl per day of crude oil, 745 bbl per day of NGLs, and 6,528 mcf per day of natural gas. The company drilled 1.0 gross (1.0 net) light oil Belly River channel well in Wilson Creek at a total on stream cost of approximately $4.3 million, and at the end of July, the well was producing at restricted rates of approximately 920 boe per day. During the second quarter, Lotus Creek sold its non-core assets in Tableland, Saskatchewan for aggregate proceeds of $13.0 million, which were used to repay debt under its credit facilities. Adjusted funds from operations for Q2 2026 were $7.5 million, with cash flows from operating activities at $5.5 million and net income of $5.8 million, inclusive of a $5.5 million unrealized gain on risk management contracts. The company invested a total of $8.0 million of capital in the quarter and had net debt of $1.2 million as at June 30, 2026. The company projects average fourth-quarter 2026 production guidance of 4,800 to 5,200 boe per day and full-year capital and abandonment expenditures of $50.0 million. Lotus Creek expects to have ample liquidity through its credit facilities to continue to fund its capital program and operations.

Ecopetrol Announces Successful Auction Result for the Acquisition of Approximately 25% of the Share Capital of Brava Energia S.A.

(NYSE: EC) Ecopetrol S.A. announced that its Brazilian subsidiary, Ecopetrol Investimentos do Brasil Ltda., successfully completed the auction process for the voluntary tender offer (OPAV) for the acquisition of 116,110,717 common shares of Brava Energia S.A. at a price of R$23.00 per share, representing approximately 25% of Brava's issued and outstanding share capital. The settlement and payment for the OPAV Shares are scheduled for August 17, 2026, and the company also plans to consummate a share purchase agreement entered into on April 23, 2026, with shareholders holding approximately 26% of Brava's share capital. Ecopetrol Brasil is expected to acquire a controlling interest representing approximately 51% of Brava's voting share capital. The company expects to initially finance the transaction through a short-term credit facility governed by the laws of the State of New York, entered into by Ecopetrol Capital AG, a subsidiary organized under the laws of Switzerland. Ecopetrol anticipates refinancing the Bridge Facility through a combination of long-term debt and equity contributions. Ecopetrol is the largest company in Colombia, responsible for more than 60% of the hydrocarbon production in Colombia, and has more than 19,000 employees.

W&T Offshore Announces Second Quarter 2026 Results and Declares Dividend for Third Quarter of 2026

(NYSE: WTI) W&T Offshore, Inc. reported operational and financial results for the second quarter of 2026 and declared a third quarter 2026 dividend of $0.01 per share. The company produced 34.7 thousand barrels of oil equivalent per day (49% liquids), incurred $71.6 million in lease operating expenses, and reported net income of $12.6 million, or $0.08 per diluted share. Adjusted Net Income totaled $3.5 million, Free Cash Flow increased by 50% to $31.4 million, and Adjusted EBITDA was $54.4 million for the quarter. Unrestricted cash and cash equivalents grew 15% to $150.7 million, resulting in a 9% decrease in Net Debt to $200.9 million, and total available liquidity at quarter end was $194.1 million. Capital expenditures on an accrual basis were $10.4 million, and asset retirement obligation settlements were $3.4 million. The company declared its 11th consecutive quarterly dividend of $0.01 per share, payable on August 26, 2026 to shareholders of record on August 19, 2026. The company projects third quarter 2026 production to be slightly higher than second quarter and expects full year 2026 capital expenditures and plugging and abandonment to be towards the higher end of guidance.

SandRidge Energy, Inc. Announces Financial and Operating Results for the Three and Six-Month Periods Ended June 30, 2026 and Declares Dividend of $0.13 Per Share

(NYSE: SD) SandRidge Energy, Inc. announced financial and operational results for the three and six-month periods ended June 30, 2026. On August 4, 2026, the Board declared a dividend of $0.13 per share, payable on August 31, 2026 to stockholders of record on August 19, 2026. As of June 30, 2026, the Company had $114.7 million of cash and cash equivalents, including restricted cash of $1.3 million, and no outstanding term or revolving debt obligations. Second quarter net income was $26.7 million, or $0.72 per basic share, with adjusted EBITDA of $34.0 million and production averaging 19.7 MBoe per day, an increase of 11% on a Boe basis versus the same period in 2025. Oil production increased 22% and total revenues increased 48% during the quarter versus the same period in 2025. The Company completed four wells as part of its ongoing one-rig Cherokee development program in the first half of 2026, with two more wells completed in July. The company anticipates closing its previously announced acquisition of certain producing assets and leasehold interests in the Cherokee Play in the third quarter 2026, adding approximately 7,000 net leasehold acres, interests in 21 wells, and eight proven development locations.

Albemarle Reports Second Quarter 2026 Results

(NYSE: ALB) Albemarle Corporation reported net sales of $1.7 billion for the second quarter ended June 30, 2026, up 31% due to higher pricing in Energy Storage (+73%) and higher pricing and volumes in Specialties (price +11%, volume +8%). Net income attributable to Albemarle Corporation was $480 million, or $3.52 per diluted share, and adjusted EBITDA was $858 million, up 155% from the prior-year quarter. Cash from operating activities was $710 million and free cash flow was $638 million, with operating cash flow conversion of 83%. Energy Storage net sales for Q2 2026 were $1,276.7 million, with sales volume of 65 kT LCE and an average realized price of $19.53/kg LCE. Specialties net sales were $423.5 million, with adjusted EBITDA of $117.7 million, up 61.3%. The company projects full-year 2026 capital expenditures to be approximately $500 million, down 15% compared to 2025, and expects Energy Storage sales volumes to be in the range of 225 to 235 kilotons lithium carbonate equivalent. Operations at the Jordan Bromine Company (JBC) joint venture are in line with expectations as it continues to navigate geopolitical tensions in the region.

Energy Fuels Announces Q2-2026 Results

(TSX: EFR) Energy Fuels Inc. reported its financial and operational results for the quarter ended June 30, 2026, including a net loss of $33.6 million ($0.13 per share) and total revenues of $25,108,000. The company entered into a definitive agreement to acquire 100% of Vacuumschmelze GmbH & Co. KG, Ara VAC TopCo US LLC and their subsidiaries for approximately $1.9 billion in cash-and-stock consideration, and continued to advance its planned acquisition of Australian Strategic Materials Ltd. Energy Fuels mined 315,000 pounds of U3O8 during Q2 2026, produced 865,000 pounds of finished U3O8 in Q2, and sold 310,000 pounds at a weighted average realized price of $80.48 per pound for total uranium revenues of $25.0 million. The company had $996.0 million of working capital at quarter-end, including $58.4 million of cash and cash equivalents and $878.3 million of marketable securities. Construction began on an expansion of the White Mesa Mill in Utah to enable large-scale production of heavy rare earth oxides, with completion of the Tb and Dy circuits expected by the end of 2027 and Sm, Eu, and Gd circuits by the end of 2028. The company projects that its planned acquisitions and expansions will strengthen its position as a vertically integrated global critical materials company and provide a long-term source of monazite feedstock from the Donald Project joint venture in Australia.

SM Energy Reports Second Quarter 2026 Results

(NYSE: SM) SM Energy Company reported financial and operating results for the second quarter 2026, including net income of $4.46 per diluted share and adjusted net income of $2.19 per diluted share. The company generated operating cash flow of $1.1 billion, or $1.2 billion before net change in working capital, and delivered adjusted free cash flow of $467 million after $42 million of one-time integration, transaction, and capital costs. Capital expenditures totaled $754 million, or $717 million before changes in accruals, and average net daily production was approximately 440 MBoe/d, including approximately 230 MBbl/d of oil. SM Energy closed the $950 million sale of certain South Texas assets on April 30, 2026, with net proceeds of approximately $900 million used to redeem all $819 million aggregate principal amount of the 6.75% and 5.0% Senior Notes due 2026, contributing to a $1.1 billion sequential reduction in net debt. The company returned $137 million of capital to stockholders through $84 million in share repurchases (2.6 million shares) and a $0.22 per share quarterly dividend. SM Energy raised its second-half 2026 production outlook to 435–440 MBoe/d, including approximately 238 MBbl/d of oil, and maintained full-year 2026 capital guidance of $2.65–$2.85 billion. The company projects full-year production guidance of 418–423 MBoe/d (223–225 MBbl/d of oil) and expects to action full run-rate synergies from the Civitas merger by year-end 2026.

Chord Energy Reports Second Quarter 2026 Financial and Operating Results, Declares Base Dividend and Updates 2026 Outlook

(NASDAQ:CHRD) Chord Energy Corporation reported financial and operating results for the second quarter 2026, with net income of $525.2MM and Adjusted Net Income of $361.7MM ($6.44/diluted share). The company returned 54% of Adjusted Free Cash Flow to shareholders through a base dividend of $1.30 per share and $147.4MM of share repurchases. Oil volumes reached 165.4 MBopd, at the high-end of guidance, and capital expenditures were $416MM (excluding $0.7MM of reimbursable non-op CapEx), modestly below midpoint guidance. Net cash provided by operating activities was $1,116.2MM, Adjusted EBITDA was $923.5MM, and Adjusted Free Cash Flow was $414.1MM. Chord executed and turned in line four additional 4-mile pads, bringing the total to 26 executed 4-mile wells as of early 3Q26. The company repurchased 1,104,346 shares at a weighted average price of $133.47 per share in 2Q26, and shares issued and outstanding were 55.2MM (56.0MM fully diluted) as of June 30, 2026. The company projects to generate approximately $3.0B of Adjusted EBITDA and $1.3B of Adjusted Free Cash Flow in 2026, with FY26 CapEx midpoint guidance at $1.4B and plans to TIL 140 – 160 gross operated wells with an average working interest of ~75%.

Transocean Reports Second Quarter 2026 Results

(NYSE: RIG) Transocean Ltd. reported contract drilling revenues of $966 million for the second quarter of 2026, with strong revenue efficiency of 97.0%. Net income for the quarter was $170 million, or $0.04 per diluted share, and adjusted EBITDA was $312 million, reflecting a margin of 32.2%. Net cash provided by operating activities was $236 million, and after capital expenditures of $24 million, free cash flow was $212 million. The company ended the period with total liquidity of more than $1.3 billion, including the undrawn revolving credit facility. Transocean added $292 million in contract backlog at a weighted average dayrate of about $461,000, and as of August 5, 2026, the total backlog is approximately $6.7 billion, excluding $1.0 billion of backlog for work with Equinor. The company projects industry utilization for deepwater and harsh environment assets to move well into the 90% range during 2027 and expects demand for its highest specification rigs to increase in the coming years.

Diversified Energy Reports Second Quarter 2026 Results

(NYSE: DEC, LSE: DEC) Diversified Energy Company announced its financial and operational results for the three and six months ended June 30, 2026. The company completed the strategic sale of non-core, low-margin Barnett and Arkansas assets for $147M and reported year-to-date acreage sales of $126M. For the second quarter of 2026, Diversified reported average production of 1,253 MMcfepd (209 Mboepd), total commodity revenue of $504M, net income of $248M, adjusted EBITDA of $240M, operating cash flow of $89M, and adjusted free cash flow of $115M. The company declared a 2Q26 dividend of $0.29 per share and repurchased 6,596,753 shares year-to-date through August 5, 2026, representing ~9% of shares outstanding. Liquidity as of June 30, 2026, was $678M, and the leverage ratio was 2.45x. Diversified completed the Camino acquisition in Oklahoma and reported more than 450 economic drilling locations at $65/Bbl oil and $3.25/MMBtu natural gas pricing. The company projects full year 2026 total production of 1,180 to 1,210 MMcfe/d, total capital expenditures of $225 to $255 million, adjusted EBITDA of $960 to $1,010 million, and adjusted free cash flow of ~$440 million.

Prospera Announces Commencement of Service Rig Operations

(TSXV: PEI) Prospera Energy Inc. announced the commencement of service rig operations across its core Saskatchewan heavy oil properties, marking the launch of its second half 2026 workover and reactivation campaign. The 2024/2025 reactivation program consisted of 17 wells for a total capital expenditure of $1.64MM and has generated total net operating income of $1.70MM as of June 30, 2026. Five wells in this program have achieved more than 2X payout. The company now holds a consolidated 100% working interest position across its Saskatchewan core heavy oil properties. Mr. Christopher Moore's resignation from the Board of Directors was effective July 8th, 2026, and is complete and final due to medical and personal reasons. Prospera Energy Inc. is headquartered in Calgary, Alberta, and is listed on the TSX Venture Exchange under the symbol PEI. The company states that this campaign builds directly toward its 2026 growth plan and positions Prospera to exit the year at a materially higher production rate.

Alligator Energy Targets 2030-31 Samphire Uranium Production After Completing FRT

(ASX: AGE) Alligator Energy has outlined a pathway targeting production from its Samphire uranium project in 2030 or 2031 after completing a field recovery trial (FRT) and increasing the project’s mineral resource estimate (MRE) to 30 million pounds of uranium oxide. The FRT was completed on 30 June 2026, achieving the industry benchmark of 70% uranium recovery over 70 pore volumes, with recovered solution reaching a grade of 115 parts per million (ppm) uranium oxide and flow rates of up to five litres per second. Samphire’s MRE has increased 67% from 18Mlb to 30Mlb of uranium oxide, comprising 18Mlb at Blackbush and 12Mlb at Plumbush across Indicated and Inferred categories. The December 2023 scoping study modelled A$131 million in capital expenditure, a post-tax net present value at an 8% discount rate of A$257m, a 42% post-tax internal rate of return, and a 2.45-year payback period, based on a long-term uranium price of US$75/lb and the former 18-million-pound MRE. The study also assumed annual production of 1.2Mlb, with cash costs of US$16.06/lb and all-in sustaining costs of US$33.31/lb. Alligator is targeting FS delivery in mid-2027, offtake and project financing milestones by the end of 2027 or early 2028, and construction during 2029 or 2030, subject to approval of the Mining Lease and a final investment decision. Alligator plans about 300 drill holes across these areas by the end of November 2027, with early drilling already extending uranium mineralisation 600 metres south of Blackbush at grades described as similar to the existing deposit.

Greenridge Exploration Triples the Size of the Bradley Lake Uranium Project in Northern Saskatchewan, Canada

(CSE: GXP OTCQB: GXPLF) Greenridge Exploration Inc. announced it has expanded the size of its Bradley Lake Uranium Project by more than 300% through staking six new claims during a recent re-opening of lands administrated by the Government of Saskatchewan. Bradley Lake now consists of seven mineral claims owned 100% by Greenridge with no underlying royalties, totaling 3,563 hectares (8,804 acres), located approximately thirty kilometres northwest of Stony Rapids, in the northern Athabasca region of Saskatchewan. Historical sampling in outcrop discovered uranium values of up to 3.53% U3O8, and a 2025 helicopter-borne time-domain electromagnetic and radiometric survey delineated a conductive feature coincident with a radiometric anomaly now covered by the expanded claim block. In 2022, ALX Resources Corp. (fully acquired by Greenridge in December 2024) mapped sixty metres of a northeast-southwest trending structure at Bradley West, collecting four samples with geochemical values ranging from 0.08% to 1.77% U3O8. The company holds an active exploration permit for surface prospecting and sampling, airborne and ground geophysics, valid to May 31, 2027. Greenridge owns or has interests in 22 projects and additional claims covering approximately 242,239 hectares, including 13 uranium projects and additional prospective claims covering approximately 167,573 hectares. The company projects further exploration work on the Project in the future and the expected benefits of acquiring the Claims.

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