Ascent Resources (Private)

Ascent updated its 2026 guidance, reflecting higher production and lower operating costs. Strong year-to-date execution has enabled the company to increase production guidance through capital-efficient development. Ascent’s strong liquids portfolio and Utica production has enabled the company to avoid Q3 2026 curtailments and production guidance misses, which have been common among many Northeast producers. Continued efficiency gains have also helped offset inflationary pressures on capital costs, keeping the company’s drilling and completion capital guidance in line with initial expectations.

Q3 2026 natural gas production was 1.887 Bcf/d, higher than the midpoint guidance of 1.83 Bcf/d. Full year 2026 production guidance is revised higher by 1.16% from the prior reporting quarter.

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BKV Corporation (BKV)

BKV’s upstream business delivered another strong quarter in Q3 2026. Q3 2026 production outperformance was primarily driven by continued outperformance in new well development and peer-leading base decline management. Additionally, the Barnett acquisition completed on September 15, 2026, provided an incremental production contribution during the quarter. The Upstream-Midstream business continues to outperform on multiple levels and generate strong cash flow, along with continued improvements in capital efficiency.

Q3 2026 natural gas production was 0.792 Bcf/d, higher than the midpoint guidance of 0.76 Bcf/d. Full-year 2026 production guidance is revised to be 5% higher than the prior reporting quarter. BKV is the largest producer in the Barnett basin with potential to expand.

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ConocoPhillips (COP)

Conoco is capturing efficiencies across their Lower 48 assets and growing its strategic commercial LNG offtake portfolio. The company achieved record Permian completion efficiency with 15% more pumping hours than the prior year average.

Q3 2026 US natural gas production was 3.96 Bcf/d, below the midpoint guidance. Full-year 2026 production guidance is unchanged from the prior reporting quarter. The company released preliminary 2027 production guidance. Production is expected to be higher year-over-year by single digits in 2027.

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Devon Energy (DVN)

Devon Energy is maintaining its full-year 2026 guidance. The company issued preliminary 2027 guidance. Devon Energy expects 2027 oil production growth of 1–3%. Lateral lengths are expected to increase 10% on average year-on-year (YOY) in 2027.

As announced on October 8, Devon agreed to sell the Eagle Ford assets for $4.2 billion in cash. Closing is expected in early 2027.

Eagle Ford oil volumes were below expectations due to the timing of completions during the quarter, offset by solid performance across the rest of the portfolio, led by the Permian Basin. Q3 2026 natural gas production was 4.4 Bcf/d, slightly below the midpoint guidance of 4.475 Bcf/d.

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EOG Resources (EOG)

In Q3 2026, EOG delivered record oil, NGL, and natural gas production while maintaining cost discipline as total per-unit cash operating costs and DD&A came in below guidance midpoints. Q3 2026 US natural gas production was 2.882 Bcf/d, above the midpoint guidance of 2.85 Bcf/d. Full year 2026 natural gas production guidance is revised slightly higher from the prior reporting quarter. EOG is increasing the average lateral length by 16% YOY in 2026 for the Dorado.

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Mach Natural Resources (MNR)

Mach’s Q3 2026 natural gas production was 0.611 Bcf/d, above the midpoint guidance of 0.596 Bcf/d. Full-year 2026 production guidance is unchanged from the prior reporting quarter. The company’s production is in Oklahoma. Mach encompasses about 9% of all Oklahoma natural gas production.

The company provided preliminary 2027 natural gas production guidance of 0.57 Bcf/d, which would be a mid-single YOY decline. Oil production is expected to be up YOY in 2027 by mid-single digits. The company said gas drilling is mostly finished until it sees some price recovery.  

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Talos Energy (TALO)

Talos’ Q3 2026 oil production exceeded guidance driven by continued strong base business performance, the absence of storm-related downtime and contributions from acquired assets. The company increased the midpoint of full-year 2026 production guidance.

Q3 2026 natural gas production was 0.102 Bcf/d, in line with the midpoint guidance. Full-year 2026 oil production guidance is revised higher. The implied natural gas production guidance for 2026 is unchanged compared to the prior reporting quarter.

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