Big Sky Industrial Reports Improved Net Loss and Revenue Growth in Q2 2026

Big Sky Industrial Inc. reported a net loss of $2.3 million for the three months ended June 30, 2026, a significant improvement compared to a net loss of $6.1 million during the same period in 2025. The company’s total revenue for the second quarter of 2026 was $2.1 million, reflecting a 5% increase from $2.0 million in the prior year. This increase was primarily driven by a 10% rise in oil sales, which totaled $2.0 million, despite a 22% decrease in oil production volumes. The average sales price for oil rose to $77.73 per barrel, up from $55.14 per barrel in the previous year, contributing to the revenue growth.

For the six months ended June 30, 2026, Big Sky Industrial reported a net loss of $5.5 million, down from a loss of $9.2 million in the same period of 2025. Total revenue for the first half of 2026 was $3.7 million, an 11% decline from $4.2 million in the prior year, primarily due to a 29% decrease in production quantities. The company produced 68,037 barrels of oil equivalent (BOE) during the first half of 2026, compared to 95,824 BOE in the same period of 2025, largely due to divestitures of properties in Wyoming and West Texas.

In terms of operational developments, Big Sky Industrial has made significant strides in its industrial gas segment. The company reached a final investment decision for the construction of its processing facility at the Big Sky Carbon Hub in Montana, with an expected initial capacity of 8.0 million cubic feet per day (MMCF/d) targeting annual helium production of approximately 14.4 MMCF. The company also executed a five-year helium sales agreement with a global industrial gas company, ensuring a 100% take-or-pay commitment for up to 1.2 MMCF per month.

As of June 30, 2026, Big Sky Industrial's total assets increased to $55.9 million, up from $40.6 million at the end of 2025. The company’s cash and equivalents rose to $6.0 million, compared to $0.4 million at the end of the previous year. The increase in cash was bolstered by $17.2 million in proceeds from equity issuances during the first half of 2026. The company also amended its credit facility, increasing the borrowing base from $10 million to $20 million, which provides additional liquidity for ongoing and future projects.

Looking ahead, Big Sky Industrial plans to focus on advancing its industrial gas projects while continuing to manage its oil and gas operations. The company anticipates capital expenditures between $20 million and $25 million for the remainder of 2026, primarily for the construction of its gas processing plant and related infrastructure. The management remains committed to maintaining liquidity and evaluating strategic opportunities to enhance shareholder value.