Hallador Reports Q3 2026 Results; Turtle Creek Advances Toward Year-End Final Investment Decision
Globe Newswire•09/11/2026•16:05 ET
0
Key Highlights
- ➤Turtle Creek targets final investment decision before year-end 2026
- ➤Management targets approximately $1.6 billion of Turtle Creek value within 24 months
- ➤Contracted forward sales increased 26% sequentially to approximately $3.0 billion
- ➤Q3 revenue fell 11% year-over-year to $130.3 million
- ➤Q3 net loss was $4.5 million versus $23.9 million net income previously
Expert Statements
Brent Bilsland, Chairman and Chief Executive Officer of Hallador Energy Company
“Our goal at Turtle Creek is to seek to roughly double an $800 million investment into $1.6 billion of value over the next 24 months”
Brent Bilsland, Chairman and Chief Executive Officer of Hallador Energy Company
“We believe the market ascribes little to no value to the project today. Turtle Creek will diversify Hallador's generation into natural gas and make us a multi-fuel independent power producer, which we believe broadens the group of investors who can own our shares and finance our company.”
Brent Bilsland, Chairman and Chief Executive Officer of Hallador Energy Company
“Offtake contracts are the next step in building the project's value. Our financing plan does not require those contracts to be in place, but we believe long-term contracts are likely to improve the terms on which we can raise additional capital.”
Brent Bilsland, Chairman and Chief Executive Officer of Hallador Energy Company
“As we advance toward our targeted commercial operation date in the second half of 2028, our objective is to build value at each development stage with little to no equity dilution.”
Brent Bilsland, Chairman and Chief Executive Officer of Hallador Energy Company
“MISO notified us that the interconnection study, which ran through MISO's Expedited Resource Addition Study program, is complete”
Brent Bilsland, Chairman and Chief Executive Officer of Hallador Energy Company
“We are now finalizing the interconnection agreement, which has not yet been executed. We are finalizing an engineering and construction agreement and purchase orders for the balance of the equipment. Our goal is FID before the end of 2026, and commencement of commercial operation remains targeted for the second half of 2028.”
– Contracted Forward Sales Increase 26% from Q2’26 to $3.0 billion(1) at the Segment Level –
– Management Targets Approximately $1.6 Billion of Value from Turtle Creek Within 24 Months –
Get started
Create a free account to read the full story.