Presidio (FTW) Q2 2026 earnings summary

Executive summary

• Achieved net income of $14.4 million ($0.34 per share) and Adjusted EBITDA of $33.2 million for Q2 2026, with strong cash conversion and minimal capital spending.

• Production averaged 22.8–23 MBoe/d (16% oil, 57% gas, 27% NGLs), benefiting from asset integration and AI-driven operational efficiencies.

• Closed the Canyon Creek acquisition, expanding into the Arkoma Basin and establishing a new operating platform.

• Completed $350 million ABS refinancing at 6.38%, reducing coupon by 184 basis points and enhancing liquidity.

• Declared a quarterly dividend of $0.3375 per share ($1.35 annualized), yielding 12%.

Financial highlights

• Total revenue for Q2 2026 was $54.0 million, with average realized price per Boe of $25.93 (excluding derivatives).

• Lease operating expense improved to $9.39/Boe; total operating expense was $11.22/Boe.

• Free cash flow for the quarter was $15.7 million, or $0.50 per share.

• Adjusted Unhedged EBITDA was $26.3 million for Q2 2026.

• Minimal capital expenditures of $0.6 million, consistent with a low-reinvestment model.

Outlook and guidance

• Asset Intelligence Group targets 3–5% production growth in 2026 without additional capital expenditure; 2.3% uplift achieved YTD.

• Anticipated dividend increase to $1.50/share annualized post-Canyon Creek acquisition, subject to board approval.

• Management expects continued commodity price volatility and maintains a robust hedging program.

• Liquidity sources expected to be sufficient for operating and financing needs for at least the next twelve months.