Lycos Energy (LCX) Q3 2026 earnings summary

Executive summary

• Q3 production averaged 3,496 boe/d, up 18% YoY and 85% QoQ; October field estimates exceeded 4,400 boe/d, 97% crude oil.

• 2026 exit production guidance increased to 4,500–5,000 boe/d, and the capital budget expanded to $60–65 million.

Financial highlights

• Q3 petroleum and natural gas sales, net of blending, were $30.7 million, up 58% YoY; 9M sales were $58.3 million, down 16%.

• Q3 adjusted funds flow was $14.0 million, up 47% YoY and 92% QoQ; 9M adjusted funds flow was $25.9 million, down 18%.

• Q3 net income was $1.8 million versus $2.5 million YoY; 9M net income was $3.3 million versus a $49.8 million loss in 2025.

• Q3 cash flow from operating activities was $6.6 million, down 37% YoY; 9M cash flow was $30.1 million, down 4%.

Outlook and guidance

• 2026 exit production guidance raised from 4,000–4,500 to 4,500–5,000 boe/d; expected mix is ~97% crude oil.

• 2026 capital budget increased by $10 million to $60–65 million; incremental spending is largely to prepare 2027 development and production growth.

• The remaining 08-31 pad wells were expected on production by mid-November; the Kehewin step-out well was planned for spud in mid-November and production by late November.