Ridgewood Energy Q Fund Reports 41.6% Revenue Decline in Q1 2026

Ridgewood Energy Q Fund, LLC reported its financial results for the first quarter of 2026, revealing a total revenue of $365,000, a significant decrease of 41.6% compared to $625,000 in the same period of 2025. The decline in revenue was primarily driven by a drop in oil and gas revenue, which fell to $325,000 from $550,000 year-over-year. Other revenue also decreased from $75,000 to $40,000. The Fund's net income for the quarter was $133,000, down from $210,000 in the prior year, reflecting a decrease in both revenue and production volumes.

The Fund's operational performance showed a reduction in the number of producing wells, which decreased from seven to six. Total production days also fell from 626 to 307. Oil sales dropped to 4,000 barrels from 7,000 barrels, while gas sales decreased to 5,000 thousand cubic feet (mcf) from 11,000 mcf. The average oil price per barrel remained relatively stable at $73, compared to $72 in the previous year, while the average gas price increased to $5.12 per mcf from $4.50. The operational challenges were attributed to ongoing recompletion activities at the Beta Project, which impacted production volumes.

In terms of financial position, total assets increased to $5.991 million as of March 31, 2026, up from $5.569 million at the end of 2025. Current liabilities rose significantly to $662,000 from $202,000, primarily due to increased amounts due to operators. The Fund's total liabilities also increased to $1.964 million from $1.482 million. Despite these changes, members' capital slightly decreased to $4.027 million from $4.087 million, reflecting distributions and retained earnings adjustments.

Looking ahead, the Fund anticipates spending approximately $0.8 million on capital commitments over the next twelve months, primarily related to asset retirement obligations and ongoing development costs for the Beta Project. The Fund's management remains cautious about market conditions, particularly the volatility of oil and gas prices, which could impact future revenues and operational cash flows. The Fund expects to manage its capital expenditures closely in alignment with cash flow from operations, as it does not plan to invest in new projects outside its current interests.