Big Sky Industrial Inc. Reports Third Quarter 2026 Results and Highlights Phase 1 Construction Progress at Big Sky Carbon Hub

(NASDAQ: BSIN) Big Sky Industrial Inc. reported financial and operating results for the three and nine months ended September 30, 2026, and provided an update on construction and development at its flagship Big Sky Carbon Hub project. Ryan Smith, President and Chief Executive Officer, stated that in-field gathering and injection lines are complete, long-lead equipment including natural gas-fired generators has been procured, plant fabrication is underway, and on-site civil work will begin in the coming weeks. Construction remains on schedule, with first production targeted for spring 2027. The Big Sky Carbon Hub's Phase 1 modular processing facility fabrication has begun under a fixed-scope EPC agreement with CANUSA EPC, with equipment installation planned from late Q4 2026 into Q1 2027. The plant is designed to produce approximately 14 MMcf of high-purity helium per year and capture and permanently sequester or utilize approximately 125,000 metric tons of CO₂ annually at initial operations. In April 2026, the company executed a five-year, 100% take-or-pay helium sales agreement with an investment-grade global industrial gas company at a fixed, all-in price of $285 per Mcf realized at the plant gate, with CPI-linked escalation beginning March 1, 2028, and a year-three pricing redetermination. The buyer is responsible for all transportation, logistics, and downstream delivery. The company is in discussions for a new, larger senior secured credit facility and is also progressing on monetizing its Phase 1 Section 45Q tax credits. The Big Rose MRV plan, submitted October 9, 2025 and accepted by the EPA on November 12, 2025, is in the final stage of the EPA’s approval process; the Cut Bank MRV plan, submitted December 17, 2025, is also moving through the EPA process. Installation of in-field lines connecting production wells to the processing facility and CO₂ to the Big Rose injection well is complete. Three production wells are drilled, completed, and ready for tie-in, and two Class II permitted injection wells are operational. Engineering and planning for Phase 2, a second processing plant on the same footprint, are underway, with a final investment decision expected in the coming months. On October 23, 2026, the U.S. Department of Energy designated helium a critical material. As of September 30, 2026, the company had a cash balance of $2.9 million and total available liquidity of $14.4 million, including $11.5 million of undrawn capacity under its amended senior secured credit facility. After quarter end, the company sold 15 non-core wells in East Texas for net proceeds of approximately $0.4 million, with the buyer assuming approximately $0.9 million of asset retirement obligations. As of September 30, 2026, total debt outstanding was $8,500, cash balance was $2,915, net debt balance was $5,585, and total liquidity was $14,415. Third quarter 2026 production was 30,628 BOE (76% oil), compared to 35,326 BOE in Q3 2025. Third quarter 2026 revenue totaled $2.0 million (93% oil), compared to $1.7 million in Q3 2025. Third quarter 2026 realized average sales prices were $77.30/bbl and $3.35/mcf for oil and natural gas, respectively, resulting in an average realized price of $63.83/BOE, compared to $60.12/bbl, $2.82/mcf, and $49.20/BOE in Q3 2025. Revenue increased 12% year over year, driven by a 30% increase in average realized price per BOE, offsetting lower volumes. Third quarter 2026 lease operating expense was $2.1 million, compared to $1.0 million in Q3 2025, reflecting approximately $1.2 million of remediation and related costs from a produced fluids release. The company submitted an insurance claim for up to $1.0 million of these costs, with a $0.1 million deductible, but no insurance receivable was recognized as of September 30, 2026. Excluding remediation costs, lease operating expense was $0.9 million, or $29.71 per BOE, compared to $29.58 per BOE in Q3 2025. Cash general and administrative expense was $1.6 million for Q3 2026, down from $1.7 million in Q3 2025 and $1.8 million in Q2 2026. Equity compensation expense was $0.6 million for Q3 2026, compared to $0.4 million in Q3 2025. The company reported a net loss of $3.5 million, or ($0.07) per share, in Q3 2026, compared to a net loss of $3.3 million, or ($0.10) per share, in Q3 2025, which included a $0.9 million impairment. Adjusted EBITDA, excluding $1.2 million of environmental remediation costs, was $(0.8) million, compared to $(1.3) million in Q3 2025. A conference call to discuss results will be held on November 11, 2026 at 9:00 a.m. Eastern Time.

Big Sky Industrial Schedules Second Quarter 2026 Conference Call for August 11, 2026 at 9:00 a.m. ET

(NASDAQ: BSIN) Big Sky Industrial Inc. announced it will host a conference call on Tuesday, August 11, 2026, at 9:00 a.m. Eastern Time to discuss its financial results for the second quarter ended June 30, 2026. The company stated that its results will be reported in a press release prior to the call. Big Sky Industrial Inc. is an integrated industrial gas, energy, and carbon management company with operations focused on the Big Sky Carbon Hub and Cut Bank oil field in Montana’s Kevin Dome region. The company’s asset base supports three distinct business lines: helium production, carbon management, and low-decline oil production. Big Sky Industrial Inc. is focused on developing an integrated platform that leverages helium as a federally designated critical mineral, carbon management opportunities supported by Section 45Q federal tax credits, and conventional oil production from its owned and operated assets. The company’s operations are designed to generate revenue from multiple independent sources across helium, carbon management, and oil. A webcast of the conference call will be available in the Investor Relations section of the company’s website.