XPRO — what changed in the latest 10-Q
A section-by-section comparison of XPRO's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-11-03 vs the prior 10-Q · 2026-07-28
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +39 | −38 | ~19 | 55 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | Text added/removed | 0 | 0 | ~1 | 0 |
| Other information | Text added/removed | +2 | −1 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-11-03
We organize and manage our operations on a geographical basis. During the third quarter of 2026, we realigned organizational structure and combined two of our reportable segments (MENA and APAC) into one operating and reportable segment (AMENA). Refer to Note 5 “Business Segment Reporting” and Note …
The third quarter of 2026 was characterized by heightened geopolitical risk, tightening supply conditions, and stronger oil prices. Escalating tensions in the Middle East, including disruptions to regional production and shipping routes amid a failure of the previously signed Memorandum of Understan…
According to the Energy Information Administration (“EIA”), average daily liquid fuels demand increased by 3.1 million b/d in the third quarter compared to the previous quarter. The demand rebound was driven by September consumption as northern hemisphere regions build stocks for the upcoming winter…
On the supply side, global liquid fuels production averaged around 101.3 million b/d in the third quarter, an increase of 4.8 million b/d compared to the previous quarter. The upward movement of supply came as oil exports from the Middle East increased, despite attacks on the critical bypass route o…
Brent crude oil prices rose from an average of $80/bbl in July to reach $84/bbl on average in August and increased further to average $97/bbl in September. Prices rose following increased attacks on oil infrastructure and tankers around the Middle East. The most notable among these developments were…
Text removed vs the prior filing · source: 10-Q · 2026-07-28
We organize and manage our operations on a geographical basis. Our reporting structure and the key financial information used by our management team is organized around our four operating segments: (i) North and Latin America (“NLA”), (ii) Europe and Sub-Saharan Africa (“ESSA”), (iii) Middle East an…
The second quarter of 2026 was marked by increased volatility as a result of conflict in the Persian Gulf and resultant effective closure of the Strait of Hormuz. On June 18, the US and Iran signed a memorandum of understanding (MOU) in an effort to end the conflict and open the strait. Following th…
According to the Energy Information Administration (“EIA”), average daily oil demand fell by 2.5 million b/d in the second quarter compared to the previous quarter. High fuel prices, fuel shortages, and government efforts to curtail fuel use have reduced demand in recent months, helping limit global…
Brent crude oil prices reached a daily peak of $138/bbl in early April, averaging $100/bbl for the month as a whole as tensions in the Middle East rose significantly. By the end of the quarter, prices pulled back, averaging $85/bbl in June with a daily low price of $70/bbl by the end of June as the …
Looking ahead, we continue to see a supportive backdrop for offshore and international energy markets despite a complex geopolitical environment. Ongoing instability in the Middle East has reinforced the importance of energy security, supply diversification, and resilient energy infrastructure. Whil…
Other information
Text added vs the prior filing · source: 10-Q · 2026-11-03
On September 14, 2026, Lisa L. Troe, non-executive director, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell sufficient shares of the Company’s ordinary shares between June 3, 2027 and June 29, 2027, subject to certain conditions, to cover tax obligations related to the vesting of …
During the three months ended September 30, 2026, no other director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.
Text removed vs the prior filing · source: 10-Q · 2026-07-28
During the three months ended June 30, 2026, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice