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Topaz Energy Misses Q2 Estimates, Raises 2026 Royalty Production Outlook

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Topaz Energy (TPZ.TO) reported second-quarter adjusted net income of C$45.79 million, or C$0.29 per share, up from C$26.03 million, or C$0.17, a year earlier. It missed FactSet estimates of C$0.30 per share

The oil and gas infrastructure and royalty company said total revenue and other income rose to C$111.21 million in the quarter from C$81.19 million. It missed FactSet estimates of C$122.00 million

During the second quarter, the company completed a C$38.7 million tuck-in royalty acquisition in its core operating area, adding developed and undeveloped royalty interests with multi-zone, liquids-rich natural gas and oil exploration upside.

Topaz also declared a third-quarter dividend of C$0.35 per share, or C$1.40 per share on an annualized basis, representing a trailing annualized yield of 4.3% based on the company's current share price.

In its guidance, Topaz said YTD 2026 average royalty production of 24,420 boe/d exceeds its previously announced 2026 royalty production guidance of 23,900 boe/d, reflecting strong performance and increased activity therefore Topaz has increased the annual average royalty production guidance range to 23,900 boe/d to 24,300 boe/d.

Based on updated estimates, Topaz's 2026 exit net debt is estimated between $435.0 and $440.0 million, before consideration of incremental acquisitions, the company said.

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