Arrow Exploration (AXL) Q2 2026 earnings summary

Executive summary

• Achieved record quarterly results with significant increases in revenue, production, and profitability, driven by new field discoveries and development drilling.

• Expanded asset base with the acquisition of the Thorsby field in Alberta, Canada, and continued development in Colombian basins.

• Maintained a strong balance sheet with substantial cash reserves and no debt, supporting ongoing capital programs.

Financial highlights

• Total oil and natural gas revenue for Q2 2026 was $34.2 million, up 116% year-over-year from $15.9 million.

• Adjusted EBITDA reached $25.1 million, a 300% increase compared to Q2 2025.

• Net income was $10.4 million, reversing a net loss of $0.9 million in Q2 2025.

• Operating cash flows for Q2 2026 were $15.7 million.

• Cash position at quarter-end was $28.5 million, with no outstanding debt.

Outlook and guidance

• Focus for the remainder of 2026 is on drilling additional wells at the Icaco pad and recompletions to boost productivity in key fields.

• Ongoing engagement with authorities regarding the Tapir block extension, with expectations of securing the extension.