$SPND

SPINDLETOP OIL & GAS CO

CIK:0000867038|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues
Oil and gas revenues	$ 1,806,000	$ 876,000	$ 2,987,000	$ 1,928,000
Revenue from lease operations	41,000	48,000	82,000	91,000
Gas gathering, compression, equipment rental	19,000	26,000	43,000	44,000
Real estate rental income	67,000	71,000	131,000	142,000
Other	11,000	19,000	22,000	30,000
Total Revenues	1,944,000	1,040,000	3,265,000	2,235,000
Expenses
Lease operations	353,000	297,000	557,000	587,000
Production taxes, gathering and marketing	187,000	140,000	345,000	281,000
Pipeline and rental operations	4,000	13,000	7,000	26,000
Real estate operations	21,000	24,000	48,000	49,000
Depreciation and amortization	52,000	142,000	148,000	188,000
General and administrative	598,000	692,000	1,310,000	1,413,000
Total Expenses	1,215,000	1,308,000	2,415,000	2,544,000
Income (Loss) from operations	729,000	(268,000)	850,000	(309,000)
Other Revenue
Interest Income	161,000	212,000	329,000	420,000
Total Other Revenue and Expense	161,000	212,000	329,000	420,000
Income (Loss) before income tax	890,000	(56,000)	1,179,000	111,000
Current income tax provision	78,000	1,000	78,000	14,000
Deferred income tax provision	65,000	13,000	96,000	17,000
Total income tax provision	143,000	14,000	174,000	31,000
Net Income (Loss)	$ 747,000	$ (70,000)	$ 1,005,000	$ 80,000
Earnings (Loss) per Share of Common Stock Basic and Diluted	$ 0.11	$ (0.01)	$ 0.15	$ 0.01
Weighted Average Shares Outstanding Basic and diluted	6,598,303	6,693,271	6,598,325	6,716,478

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities
Net Income	$ 1,005,000	$ 80,000
Reconciliation of net Income to net cash provided by operating activities
Depreciation and amortization	148,000	188,000
Changes in accounts receivable	(190,000)	248,000
Changes in income tax receivable	78,000	15,000
Changes in accounts payable and accrued liabilities	(520,000)	(210,000)
Changes in other long-term liabilities	93,000
Changes in deferred Income tax asset	96,000	17,000
Net cash provided for operating activities	710,000	338,000
Cash Flows from Investing Activities
Capitalized acquisition, exploration and development	(418,000)	(318,000)
Changes in other short-term investments	(500,000)
Changes in other long-term investments	939,000	1,025,000
Proceeds from sale of oil and gas properties	755,000
Net cash provided (used) for Investing activities	776,000	707,000
Cash Flows from Financing Activities
Purchase of treasury stock		(351,000)
Net cash used for financing activities		(351,000)
Increase in cash, cash equivalents, and restricted cash	1,486,000	694,000
Cash, cash equivalents, and restricted cash at beginning of period	3,911,000	6,742,000
Cash, cash equivalents, and restricted cash at end of period	$ 5,397,000	$ 7,436,000

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 5,127,000	$ 3,641,000
Restricted cash	270,000	270,000
Accounts receivable	2,231,000	2,041,000
Income tax receivable	54,000	132,000
Other short-term investments	752,000	252,000
Total Current Assets	8,434,000	6,336,000
Property and Equipment - at cost
Oil and gas properties (full cost method)	27,231,000	27,568,000
Rental equipment	465,000	465,000
Gas gathering system	115,000	115,000
Other property and equipment	479,000	479,000
	28,290,000	28,627,000
Accumulated depreciation and amortization	(27,031,000)	(26,916,000)
Total Property and Equipment	1,259,000	1,711,000
Real Estate Property - at cost
Land	688,000	688,000
Commercial office building	1,925,000	1,925,000
Accumulated depreciation	(1,404,000)	(1,371,000)
Total Real Estate Property	1,209,000	1,242,000
Other Assets
Deferred Income Tax Asset	473,000	569,000
Other long-term investments	16,651,000	17,590,000
Other	3,000	3,000
Total Other Assets	17,127,000	18,162,000
Total Assets	28,029,000	27,451,000
Current Liabilities
Accounts payable and accrued liabilities	6,220,000	6,740,000
Total Current Liabilities	6,220,000	6,740,000
Noncurrent Liabilities
Other long-term liabilities	593,000	500,000
Asset retirement obligation	5,883,000	5,883,000
Total Noncurrent Liabilities	6,476,000	6,383,000
Total Liabilities	12,696,000	13,123,000
Shareholders' Equity
Common stock, $.01 par value, 100,000,000 shares authorized; 7,677,471 shares issued and 6,598,303 outstanding at June 30, 2026, and 6,598,370 outstanding at December 31, 2025.	77,000	77,000
Additional paid-in capital	943,000	943,000
Treasury stock, at cost	(2,270,000)	(2,270,000)
Retained earnings	16,583,000	15,578,000
Total Shareholders' Equity	15,333,000	14,328,000
Total Liabilities and Shareholders' Equity	$ 28,029,000	$ 27,451,000