Key Highlights

  • Permian Resources (NYSE:PR) delivered USD 846 million of adjusted free Cash Flow after total output increased 22% over the second quarter, reaching 457.5 thousand barrels of oil equivalent daily.
  • Gulfport Energy (NYSE:GPOR) pushed net liquids Volume up roughly 67% versus the second quarter, to 23.5 thousand barrels a day, while Net Income came to USD 96.4 million.
  • SandRidge Energy (NYSE:SD) nearly doubled basic EPS, from USD 0.44 a year earlier to USD 0.83, and held no term or revolving Debt at the end of September.
  • Texas Pacific Land (NYSE:TPL) reported USD 2.42 of diluted EPS, with Royalty income reaching USD 167.3 million and water sales slipping to USD 28.4 million.

Gulfport Energy (NYSE:GPOR): Liquids Gain 67% While Annual Output Lags

Gulfport Energy (NYSE:GPOR) reported third-quarter 2026 figures on November 4, 2026, showing net income of USD 96.4 million and adjusted EBITDA of USD 226.5 million. Adjusted free cash flow was USD 89.0 million. New Utica pads producing liquids-rich wet gas lifted total output about 10% from the second quarter, to 1,057.2 MMcfe per day, and net liquids output hit 23.5 thousand barrels daily. Compared with a year before, total output is roughly 5.6% lower by calculation, so the advance is sequential only. Realized pricing including settled hedges was USD 3.71 per Mcfe, up from USD 3.37. The company repurchased about 218.7 thousand shares for close to USD 36.2 million, while the board lifted the buyback authorization 33% to USD 2.0 billion. Its Liquidity relies more on the revolver than on cash, which stood at about USD 2.6 million, with USD 419.0 million drawn on the revolver and USD 650.0 million of 2029 senior notes outstanding. A borrowing base review on October 30 kept commitments at USD 1.1 billion. Interest expense per Mcfe increased to USD 0.18 from USD 0.13, and a call is set for November 5, 2026.

Permian Resources (NYSE:PR): USD 846 Million of Free Cash on Record Low Costs

Permian Resources (NYSE:PR) released its third-quarter 2026 results on November 4, 2026. Total production grew 22% sequentially to 457.5 thousand barrels of oil equivalent daily, with NGL output up 37% and Natural Gas up 42%, after gas-to-oil ratio wells that had been held back in the second quarter, when regional gas prices were negative, came back online. Adjusted free cash flow reached USD 846 million, and controllable cash costs reached a company low of USD 7.05 per barrel of oil equivalent. Diluted GAAP Earnings were USD 0.49 a share, against USD 0.08 a year ago, while income attributable to Class A holders of USD 420.2 million fell short of the second quarter's USD 792.5 million because of a USD 308.6 million derivative loss. The company completed roughly 175 acquisitions costing about USD 1.15 billion overall, including Ridge Runner at around USD 1.025 billion, with contingent payments up to USD 125 million keyed to WTI pricing. Leverage was roughly 0.5 times. A natural gas Revenue sentence in the release is internally inconsistent, so that figure is left out. Earnings hinge on Commodity prices, which the company itself lists as a major risk.

SandRidge Energy (NYSE:SD): Debt-Free Balance Sheet and Basic EPS Near USD 0.83

SandRidge Energy (NYSE:SD) published its numbers for the quarter ended September 30, 2026, on November 4, 2026. Net income was USD 30.6 million, or USD 0.83 per basic share, compared with USD 16.0 million, or USD 0.44, which is an 89% increase by calculation. Adjusted net income was USD 23.8 million, equal to USD 0.64 per basic share, versus USD 0.42 a year before. Output of 20.9 MBoe daily rose 10% on a Boe basis, supported by a one-rig Cherokee drilling program and a small Acquisition that added around 7,000 net leasehold acres. Realized oil pricing of USD 85.27 a barrel was above USD 65.23 a year earlier yet under USD 95.35 in the second quarter, and free cash flow declined to USD 10.5 million from USD 23.2 million. Cash including restricted balances totaled USD 70.0 million, and the company has no term or revolving borrowings. A USD 0.13 Dividend was declared for payment on November 30, 2026, and no shares were bought back during the period. No numeric guidance was provided, and the company cautioned that activity could be cut back if prices fall.

Texas Pacific Land (NYSE:TPL): Royalty Income Rises as Water Sales Retreat

Texas Pacific Land (NYSE:TPL) submitted its third-quarter 2026 report on November 4, 2026. The company holds around 896,000 surface acres, largely in the Permian Basin, and because it does not produce oil itself, its revenue tracks operator drilling and commodity prices. Net income reached USD 167.4 million, or USD 2.42 per diluted share, up from USD 121.2 million, or USD 1.76. Oil and gas royalties increased to USD 167.3 million from USD 108.7 million as WTI averaged USD 87.12, compared with USD 65.78. Water sales fell to USD 28.4 million from USD 44.6 million, with no explanation given in the excerpt. A USD 42.5 million land sale tied to a Data Center power project in Reeves County was completed, and Chevron (NYSE:CVX) is building that project under annual payments running through 2046. Quarterly dividends came to USD 0.60 a share, and cash of USD 369.6 million trailed the target of roughly USD 700.0 million. The filing associates higher prices with the Iran conflict and turbulence around the Strait of Hormuz, but calls the impact on the balance of 2026 uncertain.

Where Things Stand

On cash flow, yes, although these four are not like for like. Permian Resources (NYSE:PR) converted 22% volume growth and record low costs into USD 846 million of adjusted free cash flow, though a derivative loss weighed on GAAP income. Gulfport Energy (NYSE:GPOR) raised liquids sequentially, yet total output stayed under last year's level and cash is thin. SandRidge Energy (NYSE:SD) has no term or revolving debt, but oil realizations dropped from the second quarter. Texas Pacific Land (NYSE:TPL) gained on royalties while water sales declined for reasons the filing leaves unstated. Oil and gas prices are the shared risk. Next markers include the November 5 calls, Ridge Runner earnout exposure, the SandRidge dividend payment and the Texas Pacific Land cash target. None of these results guarantees how prices or later quarters will unfold.