RESERVE PETROLEUM CO reported first-quarter 2026 results with revenue rising to $5.554M while net income attributable to common stockholders declined to $1.0068M and diluted earnings per share fell to $6.64 versus the year-ago quarter — 10-Q Summary.
Financial Highlights
- Revenue was $5.554M for Q1 2026, up from $4.308M in the year-ago quarter; YoY change 28.9%.
- Net income attributable to common stockholders was $1.0068M for Q1 2026, down from $1.7782M in the year-ago quarter; YoY change (44.3%).
- Diluted earnings per share was $6.64 for Q1 2026, compared with $11.71 in the year-ago quarter; YoY change (43.3%).
Business Highlights
- Oil and gas sales rose 44% year over year to $5.54M, driven by higher production volumes and modest price increases.
- Production mix shifted with oil volumes up 13,446 barrels and gas volumes up 120,078 MCF, increasing overall output.
- Depreciation, depletion & amortization rose 63% due to new-well production and accelerated asset utilization.
- Exploration costs increased 355% reflecting higher drilling dry hole/plugging activity and lease work.
- Receivables increased from new wells while payables declined due to year-end invoice timing, supporting cash operations.
Original SEC Filing:
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