Spindletop Oil & Gas Sees Revenue Surge on Higher Oil Prices

Spindletop Oil & Gas Co reported its quarterly results for 2026, showing significant growth in revenue and profits. The company's revenue rose to $1.94 million, a year-over-year increase of 86.9%. This growth was driven by higher oil production and commodity prices.

Oil volumes increased by 71.7% year-to-date, making it a larger contributor to the company's revenue. Meanwhile, gas volumes remained flat. Multiple wells were brought online in 2026, boosting production and cash flow.

Depreciation, depletion & amortization decreased following a reserve re-evaluation and lower depletion rates. The management is evaluating joint ventures or asset sales as potential liquidity options to fund operations if needed.