Phoenix Energy Reports Record Revenue and Crude Oil Production in Q2 2026

Phoenix Energy, LLC, an oil and gas exploration and production company based in Irvine, California, has reported its Q2 2026 financial and operating results. The company generated total revenues of $405.9 million in Q2 2026 as compared to $163.8 million in Q2 2025, with net income of $106.0 million as compared to $18.7 million for the same period in 2025.

The increase in revenue and net income was primarily due to higher product sales of $144.6 million generated from the Company's operated properties driven by additional wells placed into service, and a $17.2 million increase in mineral and royalty revenues primarily driven by a 42.8% increase in the average realized price for crude oil.

The company achieved its highest quarterly production of crude oil to date with 3.7 million barrels of oil produced in Q2 2026, and completed the first full four-mile lateral unit development in Montana, consisting of two four-well unit developments, eight wells in total.