Record Net Income
Reported a record net income of $5.6 billion for the third quarter.
Debt Elimination
Retired all $41 million of senior and seller debt without taking on new debt.
Shareholder Equity Increase
Increased shareholder equity by $22.7 million.
Acquisition and Farmout Agreements
Acquired a 10% override from the original seller group and farmed out the San Andres formation for a horizontal well drilling program with a retained 35% working interest.
Operational Achievements
No reportable safety incidents; maintained consistent production above 1,000 barrels per day across fields.
Future Drilling Potential
Plan to drill 92 wells over the next 5 years, with ongoing horizontal drilling expected to start in 2026.