SPND — what changed in the latest 10-Q
A section-by-section comparison of SPND'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 · 2026-08-19 vs the prior 10-Q · 2026-05-20
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +27 | −9 | ~10 | 30 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 2 |
| Risk factors | Text added/removed | 0 | 0 | ~1 | 5 |
| Other information | Text added/removed | +4 | −3 | 0 | 1 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Market risk (Item 3)
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 · 2026-08-19
Oil and gas revenues for the first six months of 2026 were $2,987,000, as compared to $1,928,000 for the same period in 2025, an increase of approximately $1,059,000 or 54.9%. The increase is due to additional production from wells brought online in 2026 and an increase in oil and natural gas prices…
Oil sales for the first six months of 2026 were approximately $1,925,000 compared to approximately $987,000 for the first six months of 2025, an increase of approximately $859,000 or 87.1%. Oil sales volumes for the first six months of 2026 were approximately 23,180 bbls compared to approximately 13…
Average oil prices received were $79.64 per bbl in the first half of 2026 compared to $66.64 per bbl in the first half of 2025, an increase of approximately $13.00 per bbl or 19.5%.
Natural gas revenue for the first six months of 2026 was $1,062,000 compared to $941,000 for the same period in 2025, an increase of approximately $121,000 or 12.9%. Natural gas sales volumes for the first six months of 2026 were approximately 291,300 mcf compared to approximately 293,800 mcf during…
Average natural gas prices received were $3.65 per mcf in the first six months of 2026 as compared to $3.20 per mcf for the same time period in 2025, an increase of approximately $0.45 per mcf or 14.1%.
Text removed vs the prior filing · source: 10-Q · 2026-05-20
Oil sales for the first three months of 2026 were approximately $576,000 compared to approximately $533,000 for the first three months of 2025, an increase of approximately $43,000 or 8.1%. Oil sales volumes for the first three months of 2026 were approximately 8,346 bbls, compared to approximately …
Average oil prices received were $64.79 per bbl in the first three months of 2026 compared to $72.85 per bbl in the first three months of 2025, a decrease of approximately $8.06 per bbl or 11.1%.
Natural gas revenues for the first three months of 2026 were $605,000 compared to $519,000 for the same period in 2025, an increase of approximately $86,000 or 16.6%. Natural gas sales volumes for the first three months of 2026 were approximately 144,000 mcf compared to approximately 145,000 mcf dur…
Average gross natural gas prices received were $4.47 per mcf in the first three months of 2026 as compared to $3.58 per mcf in the same time period in 2025, an increase of approximately $0.89 per mcf or 24.7%.
Revenues from lease operations were $41,000 in the first three months of 2026 compared to $43,000 in the first three months of 2025, a decrease of approximately $2,000 or 4.7%. Revenues from lease operations are derived from field supervision charged to operated leases along with operator overhead c…
Other information
Text added vs the prior filing · source: 10-Q · 2026-08-19
During the second quarter of 2025, the Company participated in the drilling of a new horizontal well in Major County, OK, targeting Mississippian Lime. The Reutlinger 22-27-1H well was spud on June 6, 2025, and was drilled to an approximate true vertical depth (TVD) of 9,000 ft and a measured depth …
During the first quarter of 2026, the Company participated in the drilling of a new horizontal well in Custer County, OK targeting the Cherokee Formation. The Edward 30-31-DP #1H well was spud on January 4, 2026, and was drilled to a total measured depth of 21,570 ft. The well was cased and cemented…
Also, during the first quarter of 2026, the Company participated in the drilling of a horizontal well in Custer County, OK targeting the Des Moines Formation. During the second quarter of 2026, on May 2, 2026, the operator spud the Aracari 1-12-1XH well. The well reached a total measured depth of 19…
During the second quarter of 2026, the Company sold its non-operated interest in the Moore-Hooper #1H, #2H, and #3H wells and lease in Loving County, Texas.
Text removed vs the prior filing · source: 10-Q · 2026-05-20
During the second quarter of 2025, the Company participated in the drilling of a new horizontal well in Major County, OK, targeting Mississippian Lime. The Reutlinger 22-27-1H well was spud on June 6, 2025, and was drilled to an approximate true vertical depth (TVD) of 9,000 ft and a measured depth …
During the first quarter of 2026, the Company participated in the drilling of a new horizontal well in Custer County, OK targeting the Cherokee Formation. The Edward 30-31-DP #1H was spud on January 4, 2026 and was drilled to a total depth of 21,570 ft. The Company owns an estimated 0.01725466 non-o…
Also, during the first quarter of 2026, the Company participated in the drilling of a horizontal well in Custer County, OK targeting the Des Moines Formation. The Aracari 1-12-1XH well was spud on May 2, 2026, subsequent to the end of the first quarter, and is currently in the drilling phase. The Co…
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