Strathcona Resources (SCR) Q2 2026 earnings summary

Executive summary

• Q2 2026 production averaged 117,022 boe/d, with 99.7% liquids, remaining flat sequentially from Q1 2026.

• Operating Earnings reached $376 million ($1.76/share), up 94% from the previous quarter, driven by higher oil prices.

• Free Cash Flow hit a record $296 million ($1.38/share), supported by higher earnings and lower capital expenditures.

• Quarterly dividend of $0.30 per share declared, payable September 21, 2026.

Financial highlights

• Oil and natural gas sales, net of blending and other income, were $1,080 million for Q2 2026, up from $971 million in Q2 2025.

• Net income for Q2 2026 was $333 million, compared to $231 million in Q2 2025.

• Funds from Operations totaled $538 million in Q2 2026, up from $414 million in Q2 2025.

• Capital expenditures were $233 million in Q2 2026, down from $379 million in Q2 2025.

• Net debt at quarter-end was $1.93 billion.

Outlook and guidance

• 2026 production guidance midpoint unchanged; range tightened to 122–128 Mbbls/d, with exit production expected at 135 Mbbls/d (15% exit-to-exit growth).

• 2026 capital budget remains at $1.0 billion.