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RECONSTRUCTION DATA GROUP INC

CIK:0001141197|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue:
Oil and gas sales	$ 46,113	$ 6,972	$ 86,335	$ 15,708
Operating expenses:
Lease operating costs	16,406	2,799	32,763	6,211
Exploration expense	24	0	24	0
Selling, general and administrative expense	3,408	1,693	6,515	3,289
Depreciation, depletion, amortization and accretion	10,152	3,857	22,602	7,203
Impairment of oil and gas properties	817	510	2,422	742
Total operating expenses	30,807	8,859	64,326	17,445
Gain on sale of oil and gas properties	52	1,021	52	1,021
Note receivable - credit loss	0	(1,378)	0	(1,378)
Operating income (loss)	15,358	(2,244)	22,061	(2,094)
Other income (expense):
Interest expense	(1,973)	0	(3,968)	0
Interest income	76	63	134	127
Net income (loss) on derivative contracts	5,014	0	(26,252)	0
Other income (expense)	6	15	11	17
Total other income (expense)	3,123	78	(30,075)	144
Income (loss) before income taxes	18,481	(2,166)	(8,014)	(1,950)
Income tax benefit (expense)	(1,027)	490	(159)	(414)
Net income (loss)	$ 17,454	$ (1,676)	$ (8,173)	$ (1,536)
Earnings (loss) per common share:
Basic	$ 1.31	$ (0.37)	$ (0.77)	$ (0.34)
Diluted	$ 1.31	$ (0.37)	$ (0.77)	$ (0.34)
Weighted average number of common shares outstanding:
Basic	13,300,231	4,570,178	10,620,121	4,556,866
Diluted	13,300,231	4,570,178	10,620,121	4,556,866

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows From Operating Activities:
Net income (loss)	$ (8,173)	$ (1,536)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion, amortization and accretion	22,602	7,203
Impairment of oil and gas properties	2,422	742
Note receivable - credit loss	0	1,378
Amortization of right-of-use asset	89	75
Amortization of deferred financing costs	336	0
Share-based compensation expense	904	949
Net loss on derivative contracts	26,252	0
Cash (paid) received for derivative settlements, net	(7,778)	0
Deferred income taxes	121	(414)
Gain on sale of oil and gas properties	(52)	(1,021)
Changes in operating assets and liabilities:
Accounts receivable - oil and gas	1,656	(672)
Note receivable accrued interest	0	(41)
Inventory	(80)	0
Prepaid expenses and other current assets	653	349
Accounts payable	(20,522)	(2,224)
Accrued expenses	6,626	(481)
Revenue payable	751	1,201
Income tax payable	37	0
Other liabilities	29	0
Net cash provided by operating activities	25,873	5,508
Cash Flows From Investing Activities:
Cash paid for drilling and completion costs	(20,008)	(3,675)
Cash received for sale of oil and gas property	2,000	2,635
Net cash (used in) provided by investing activities	(18,008)	(1,040)
Cash Flows From Financing Activities:
Proceeds from credit facility	11,000	0
Repayment of credit facility	(13,000)	0
Reverse stock split costs	(44)	0
Proceeds from issuance of shares, net of offering costs	0	139
Net cash (used in) provided by financing activities	(2,044)	139
Net increase in cash and restricted cash	5,821	4,607
Cash and restricted cash at beginning of period	6,321	6,607
Cash and restricted cash at end of period	12,142	11,214
Cash paid for:
Interest	2,891	0
Income taxes	0	0
Noncash investing and financing activities:
Change in accrued oil and gas development costs	(10,825)	(4,780)
Changes in estimates of asset retirement costs, net	4,660	119
Conversion of preferred stock into common stock	17,014	0
Issuance of restricted common stock	$ 0	$ 3

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash	$ 10,805	$ 3,222
Restricted cash	1,337	0
Accounts receivable - oil and gas	24,010	25,666
Inventory	141	61
Derivative contract assets, current	3,347	8,368
Prepaid expenses and other current assets	180	434
Total current assets	39,820	37,751
Oil and gas properties:
Oil and gas properties, subject to amortization, net	295,675	303,411
Oil and gas properties, not subject to amortization, net	16,623	18,859
Total oil and gas properties, net	312,298	322,270
Derivative contract assets	5,316	9,640
Operating lease - right-of-use asset	124	213
Other assets	2,141	5,995
Total assets	359,699	375,869
Current liabilities:
Accounts payable	6,548	32,436
Accrued expenses	13,408	8,245
Revenue payable	22,231	21,480
Operating lease liabilities - current	125	182
Derivative contract liabilities - current	5,687	964
Deposit on sale of oil and gas properties	2,000	0
Asset retirement obligations - current	743	1,170
Total current liabilities	50,742	64,477
Long-term liabilities:
Revolving credit facility	85,000	87,000
Operating lease liabilities, net of current portion	0	32
Derivative contract liabilities	7,067	6,358
Asset retirement obligations, net of current portion	13,688	7,641
Deferred income taxes	921	800
Other long-term liabilities	2,230	2,197
Total liabilities	159,648	168,505
Shareholders' equity:
Series A preferred stock, $0.001 par value, 200,000,000 shares authorized; -0- and 17,013,637 shares issued and outstanding, respectively	0	17,014
Common stock, $0.001 par value, 200,000,000 shares authorized; 13,290,902 and 4,797,239 shares issued and outstanding, respectively	13	5
Additional paid-in capital	330,071	312,205
Accumulated deficit	(130,033)	(121,860)
Total shareholders' equity	200,051	207,364
Total liabilities and shareholders' equity	$ 359,699	$ 375,869