Saturn Oil & Gas Crushes Q2 Production Guidance, Posts Record Revenue
Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) released its Q2 2026 results, exceeding production guidance for the eighth consecutive quarter.
The company achieved a record corporate revenue of $359 million in Q2 and $629 million in the first half of 2026. Adjusted funds flow was $123 million ($0.68/share basic), while adjusted EBITDA reached $142 million in the quarter and $269 million for the first half.
Saturn accelerated capital from Q3 into Q2 to capture stronger oil prices, getting rigs back into the field a month sooner than planned due to its flexible capital program and favorable weather conditions. Five rigs were deployed in late May and started drilling in early June, resulting in 17 gross wells being drilled and brought on production.
The company continued its 'core-up' strategy with strategic tuck-in acquisitions, enhancing its size and scale while expanding its drilling inventory and land position within existing core areas. Saturn returned $8.4 million to shareholders through share buybacks in Q2, continuing its steady return of capital.