INR Q3 FY26 earnings call: key takeaways

• Production increased 79% year-over-year to 14,000 barrels per day (2:02)
• Total volumes averaged 432 million cubic feet equivalent per day, up 100% from prior year (2:02)

Results vs expectations

EPS basis: Provider EPS (EODHD), not yet checked against the SEC

What changed since last quarter

• The company raised its 2026 production guidance to the high end of its range, citing strong operational execution and synergies from the Ohio acquisition. (12:26)
• The CFO, Kerry, emphasized improving financial processes and data visibility to drive efficiency and reduce costs. (19:47)
• The company plans to continue optimizing capital allocation, focusing on high-return opportunities and maintaining financial discipline. (36:52)

What analysts pressed on

• Whether the REX contract will continue to provide significant realization benefits in winter months. (14:59)
• Concerns about the impact of diesel and stimulation cost inflation on 2027 capital expenditures. (31:05)
• Questions about the timing and development of the Deep Utica asset in 2027 given gas price volatility. (33:24)

In their words

• We are growing production. We are putting more volume through our midstream system, and we are delivering the synergies we outlined. Zach (2:02)
• Our ability to reduce GP&T expenses per mcfe, despite this inherent cost headwinds, demonstrates the differentiated value of our integrated midstream system. Kerry (10:34)
• We have the team, the balance sheet, and the platform in place to ask on the next opportunity that meets our underwriting criteria. Zach (2:02)