Earnings call transcript: Presidio Production posts record output in Q3 2026

Presidio Production Company announced record third-quarter production of 26,133 barrels of oil equivalent per day in its Q3 2026 earnings call. Despite this strong performance, the company reported a $46.4 million net loss, driven by a significant $66.5 million unrealized hedge loss. Revenue for the quarter was $57.33 million, with lease operating expenses falling to $9.10 per BOE.

The company raised its quarterly dividend to $0.375 a share, or $1.50 annualized. Management credited the Canyon Creek acquisition and continued gains from its AI-based operating system, called Mainspring, for the production and cost improvements. While the shares were up 0.78% at $10.30, they remain significantly below their 52-week high of $17.20.

The company's net debt stands at $349.4 million, with a debt-to-equity ratio of 2.18. Investors should consider the company's leverage and hedge volatility alongside the stronger operating data and dividend yield of 13.21%.