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PHX ENERGY SERVICES CORP . Press Release August 4 , 2026 TSX- - PHX Calgary , Alberta PHX Energy Announces Highest Second Quarter Revenue in its History and Continued Record RSS Activity Second Quarter Highlights • For the three - month period ended June 30 , 2026 , PHX Energy generated consolidated revenue of $ 178.9 million , which is 7 percent higher than the $ 167.7 million generated in the second quarter of 2025 and the highest level of second quarter revenue in the Corporation's history . For the second consecutive quarter , the Corporation achieved record Rotary Steerable Systems ( " RSS " ) activity which represented 21 percent of the Corporation's consolidated activity ( 2025-20 percent ) . PHX Energy's consolidated operating days increased by 7 percent quarter - over - quarter which was mainly driven by increased Canadian division activity . Consolidated revenue in the 2026 - quarter included $ 15.4 million of motor rental revenue ( 2025 - $ 13.8 million ) . • • In the second quarter of 2026 , adjusted EBITDA ( 1 ) was $ 33 million , 18 percent of consolidated revenue ( 1 ) , an increase of 20 percent compared to $ 27.4 million , 16 percent of consolidated revenue , in the same 2025 - quarter . Earnings in the 2026 three - month period were $ 11 million , $ 0.21 per share , as compared to $ 8.5 million , $ 0.17 per share , in the same 2025 - period . Higher earnings were primarily driven by increased revenue and strong performance in RSS and motor rental activities , both of which are high - margin businesses for the Corporation . In addition , earnings in the 2026 - quarter benefited from lower cash - settled share - based compensation expense and tariff refund recoveries . Earnings in the 2026 - period included depreciation and amortization expenses for drilling and other equipment of $ 17.2 million ( pre - tax ) which is a 37 percent increase when compared to the $ 12.6 million ( pre - tax ) in the corresponding 2025 - quarter . This increase is the result of ongoing fixed asset additions as well as $ 2.6 million in additional depreciation recognized in the 2026 - quarter relating to a change in the estimated useful life of certain primary components of motors that became effective in the third quarter of 2025 . In the 2026 - quarter , PHX Energy's US division's revenue was $ 127.8 million , virtually the same level as the $ 128.1 million generated in the second quarter of 2025. The US division's operating days held steady with a marginal decline of 1 percent . In comparison , the average number of active horizontal and directional rigs per day in the US industry declined by 4 percent quarter - over - quarter . Despite the contraction in industry activity , the US division achieved record RSS activity which represented 25 percent of the division's operating days in the second quarter of 2026 ( 2025-24 percent ) . US division revenue in the 2026 - quarter represented 71 percent of consolidated revenue ( 2025 - 76 percent ) . PHX Energy's Canadian division reported $ 51.1 million of quarterly revenue , a 29 percent increase compared to $ 39.6 million in the 2025 - quarter and the highest level of second quarter revenue for the division . In the 2026 three- month period , the segment achieved record RSS activity which represented 15 percent of its operating days ( 2025 - 13 percent ) . In addition to strong RSS activity , the division's revenue growth was supported by increased activity