CEO Heath Deneke noted that the company connected 36 new wells during the second quarter, fueling a 12% increase in Adjusted EBITDA compared to the first three months of the year. The surge in activity is particularly pronounced in the Williston Basin, where the company now manages six active rigs—the highest level of drilling intensity observed in the region in several years. This operational uptick has prompted management to identify 30 additional well connections not previously included in their 2026 development plan.

To accommodate these high-return projects, the company tightened its 2026 Adjusted EBITDA guidance to a range of $235 million to $255 million while simultaneously raising its total capital expenditure target. Commercial progress continues on the Double E pipeline, with firm transportation agreements serving as a cornerstone for growth. While the company is prioritizing infrastructure development, it has also initiated a $35 million stock repurchase program, having already bought back $1 million in common shares during the quarter.