SPINDLETOP OIL & GAS CO reported first-quarter 2026 results with revenue of $1.32M, net income of $258K and diluted EPS of $0.04, compared with $1.2M, $150K and $0.02, respectively, in the year-ago quarter.
Financial Highlights
MetricCurrent quarterPrior year quarterYoY changeRevenue¹$1.32M$1.2M10.5%Net income²$258K$150K72%Diluted EPS³$0.04$0.02100%¹ Reported as “Total Revenues”. ² Reported as “Net Income”. ³ Reported as “Earnings per Share of Common Stock Basic and diluted”.
Business Highlights
- Revenue growth was driven by higher natural gas pricing and increased oil volumes, lifting oil & gas revenue about 12.3% year over year to roughly $1.181M.
- Natural gas pricing improved significantly (about +24.7% per mcf), offsetting a modest decline in gas volumes and boosting gas revenue.
- Oil production increased 23.9% year over year to approximately 8,346 barrels, supporting higher oil sales despite lower per‑barrel prices.
- Lease operating expenses declined roughly 29.7% quarter over quarter while DD&A rose after a 2025 reserve re-evaluation increased the depletion rate.
- Management is monitoring cash flow against capital needs and is evaluating joint venture or asset sale options to fund operations and maintain liquidity.
Original SEC Filing:
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