
Financial Results & Update - The company reported a net income of $19.6 million for Q2 2025, an increase from $13.0 million in Q1 2025 and $8.8 million in Q2 2024 [3][24] - Adjusted net income for Q2 2025 was $12.2 million, or $0.33 per share, compared to $14.5 million in Q1 2025 and $6.4 million in Q2 2024 [3][41] - Net cash provided by operating activities was $22.9 million in Q2 2025, up from $20.3 million in Q1 2025 and $11.4 million in Q2 2024 [3][32] - Adjusted EBITDA for Q2 2025 was $22.8 million, compared to $25.5 million in Q1 2025 and $12.9 million in Q2 2024 [3][35] Operational Results & Update - Total production for Q2 2025 was 1,619 MBoe, a 19% increase year-over-year from 1,363 MBoe in Q2 2024 [4][5] - Oil production increased by 46% year-over-year, contributing to a total revenue increase of 33% compared to Q2 2024 [5][24] - The realized oil price per barrel was $62.80 in Q2 2025, down from $79.54 in Q2 2024 [4][24] - The company’s production averaged 17.8 MBoed during Q2 2025, slightly down from 17.9 MBoed in Q1 2025 [4][5] Dividend Program - The Board declared a dividend of $0.12 per share, a 9% increase, payable on September 29, 2025 [6][10] - Total dividends declared for Q2 2025 amounted to $32.0 million, with special dividends totaling $130.2 million for the year [10][11] Liquidity & Capital Structure - As of June 30, 2025, the company had $104.2 million in cash and cash equivalents, with no outstanding debt [9][22] - The company repurchased 0.5 million shares for $6.0 million during the first half of 2025, with $69 million remaining under the repurchase authorization [11][22] Outlook - The company aims to grow its asset base responsibly while focusing on high-return projects, including a one-rig development in the Cherokee Shale Play [12] - Future plans include evaluating merger and acquisition opportunities and optimizing production through artificial lift conversions [12] Environmental, Social, & Governance (ESG) - The company emphasizes safe and environmentally conscious resource harvesting, including no routine flaring of natural gas and using pipelines for water transport [13]