NXT Energy Solutions reports surveys, debt levels, and asset ownership

NXT Energy Solutions Inc. (TSX: SFD)(OTCQB: NSFDF) released an operational update covering recent survey activity, asset ownership changes, and its current debt position, according to a company press release.

The Calgary-based company completed airborne SFD® flight operations for an oil and gas exploration client in Africa on August 26, 2026, finishing within 14 days. Data interpretation and drilling recommendations are expected to be delivered to that client before the end of 2026.

NXT has also mobilized a team to South Asia to begin flight operations for a separate SFD® survey. Results for that project are expected to be delivered to the client by the first quarter of 2027.

CEO Gerry Sheehan stated, "The positive financial impact of our SFD® surveys in Africa and South Asia is expected to be significant for the third and fourth quarters of 2026." The company plans to release its Q3 2026 financial results on or before November 16, 2026.

NXT exercised an early purchase option on its Cessna Citation 560 Ultra aircraft's capital lease. Combined with the acquisition of remaining rights to its SFD® technology in December 2025, the company now holds full unencumbered ownership of the operating assets used to deliver its survey services.

As of September 30, 2026, NXT reported long-term debt of approximately $519,000 at a 4% interest rate, due May 2031. The company states no convertible debentures or capital leases remain outstanding.

NXT is also continuing to evaluate applications of its SFD® technology and a data library containing 50,000 line-kilometers of airborne geophysical data in the Western Canadian sedimentary basin, with Baycrest Energy Ltd. supporting the evaluation of strategic pathways for that initiative.

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