HOUSTON, April 24, 2025 (GLOBE NEWSWIRE) -- Evolution Petroleum Corporation (NYSE American: EPM) ("Evolution" or the "Company") today announced that it plans to release its fiscal third quarter 2025 financial and operating results on Tuesday, May 13, 2025, after the market closes. Additionally, Kelly Loyd, President and Chief Executive Officer, Ryan Stash, Senior Vice President, Chief Financial Officer, and Treasurer, and Mark Bunch, Senior Vice President and Chief Operating Officer, will review the results ...

Transaction Remains Highly Accretive to Both Near and Long-Term Cash FlowsHOUSTON, April 14, 2025 (GLOBE NEWSWIRE) -- Evolution Petroleum Corporation (NYSE American: EPM) ("Evolution" or the "Company") today announced the closing of its previously announced acquisition of non-operated oil and natural gas assets located in New Mexico, Texas, and Louisiana (the "Acquisition", or "TexMex"). The total purchase price for the Acquisition is $9.0 million before customary post-closing adjustments, with an effective ...

HOUSTON, March 25, 2025 (GLOBE NEWSWIRE) -- Evolution Petroleum Corporation (NYSE American: EPM) ("Evolution" or the "Company") announced today that members of the Company's management team plan to participate in several upcoming events. Water Tower Research Fireside Chat – March 26, 2025Evolution will participate in a virtual fireside chat hosted by Water Tower Research ("WTR") on Wednesday, March 26, 2025, at 2:00 p.m. CT. The event will feature an in-depth conversation with Company management regarding i ...

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Core Viewpoint - Evolution Petroleum Corporation has announced a definitive agreement to acquire non-operated oil and natural gas assets in New Mexico, Texas, and Louisiana for a total purchase price of $9.0 million, expected to close by the end of the third quarter of fiscal 2025 [2][3]. Strategic Benefits of the Acquisition - The acquisition is the seventh transaction in six years, aimed at strengthening the production base and aligning with a disciplined growth strategy by adding high-quality, low-decline production at an attractive valuation of approximately 2.8x NTM Adjusted EBITDA [3][6]. - The acquired assets will add approximately 440 barrels of oil equivalent per day (BOEPD) of net production, with a balanced commodity mix of 60% oil and 40% natural gas, primarily consisting of low-decline, Proved Developed Producing (PDP) properties [3][6]. - The transaction is expected to be immediately accretive to all key metrics, enhancing Evolution's ability to generate stable free cash flow and supporting the long-standing commitment to returning capital to shareholders [3][6]. Financial Overview - The purchase price of $9.0 million is compared to an estimated $15 million of Proved Developed PV-10, indicating a favorable valuation for the assets [6]. - The acquisition is expected to enhance cash flow visibility and strengthen the long-term sustainability of dividends, while offering low-risk development opportunities for incremental production growth [6]. Company Background - Evolution Petroleum Corporation focuses on maximizing total shareholder returns through ownership and investment in onshore oil and natural gas properties in the U.S., aiming to build a diversified portfolio of long-life assets through acquisitions and production enhancements [9].

Financial Data and Key Metrics Changes - Total revenues for fiscal Q2 2025 were $20.3 million, a decrease of 4% year over year, primarily due to lower realized commodity prices which fell approximately 12% year over year [30] - Production volumes increased by 10% year over year, attributed to acquisitions and new wells coming online [30] - Cash on hand as of December 31, 2024, was $11.7 million, with total liquidity amounting to $22.2 million [32] Business Line Data and Key Metrics Changes - Total production grew to 6,935 BOE per day, reflecting a 10% year-over-year increase, despite temporary downtime in certain areas [14] - The SCOOP/STACK region showed strong performance with three new wells brought online during the quarter, contributing to production growth [21] - Production at Chaveru was temporarily impacted by gas interference issues, but has since stabilized [24] Market Data and Key Metrics Changes - The energy market remains dynamic, with expectations for improved natural gas prices due to increased demand and easing LNG export restrictions [12] - Crude oil pricing trends indicate a potential continuation of tight supply and demand dynamics, which may benefit the company in the second half of fiscal 2025 [13] Company Strategy and Development Direction - The company is focused on disciplined asset acquisitions and organic growth, with a strong emphasis on maintaining a robust financial foundation [9][18] - Management is evaluating multiple acquisition opportunities that could enhance long-term growth and cash flow generation [10] - The company aims to sustain its dividend program while pursuing high-quality, low-decline assets [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the M&A landscape, noting a healthy pipeline of acquisition targets [10] - The company remains committed to returning value to shareholders through consistent dividend payments, marking its 46th consecutive dividend [16][33] - Future expectations for production growth and cash flow remain positive, supported by strategic investments and disciplined capital management [14][18] Other Important Information - The company has returned approximately $126.6 million or $3.81 per share to shareholders in common stock dividends [17] - The quarterly cash dividend of $0.12 per share is scheduled for payment on March 31, 2025 [33] Q&A Session Summary Question: Is M&A still a top focus for the team, and would the company be comfortable executing multiple transactions at once? - Management indicated that they are open to executing multiple transactions if they are digestible and accretive to dividend per share [39][40] Question: What is the reason for the acceleration in M&A opportunities? - Management noted that current market conditions have aligned buyer and seller expectations, creating more opportunities for reasonable offers [46] Question: Can you provide insights on the performance of new wells in the SCOOP/STACK? - New wells are performing approximately 10% above type curve expectations for gas, with oil performance meeting expectations [57] Question: What is the expected capital expenditure for the second half of the fiscal year? - Management confirmed that capital expenditures will be back half weighted, primarily driven by drilling and completion activities at Chaveru [62] Question: Are acquisitions focused on existing core areas or new areas? - Management stated that they are considering both existing core areas and potential new core areas for acquisitions [68] Question: How does the company view financing alternatives for acquisitions? - Management indicated that they are within their stated leverage targets and would consider both debt and equity options for financing acquisitions [82]

Production and Revenue - Crude oil, natural gas, and NGL production increased by 13% during the six months ended December 31, 2024, compared to the year-ago period [124]. - Revenues from crude oil, natural gas, and NGL had a modest increase of 1% over the same period despite increased production volumes due to declines in commodity prices [124]. - Average daily production increased by 832 BOEPD, or 13.0%, from the prior year period, reaching 6,935 BOEPD [148]. - Total revenues for the three months ended December 31, 2024, were $20.3 million, a decrease of $0.7 million, or 3.6%, compared to $21.0 million in the same period of 2023 [154]. - Total revenues for the six months ended December 31, 2024, were $42.2 million, a slight increase of 1.3% from $41.6 million in the same period of 2023 [170]. Financial Performance - Net loss for the three months ended December 31, 2024, was $1.8 million, compared to a net income of $1.1 million for the same period in 2023 [152]. - Net income for the six months ended December 31, 2024, was $0.2 million, a decrease of 90.6% from $2.6 million in the same period of 2023 [167]. - Cash flows from operating activities for the six months ended December 31, 2024, increased by $4.0 million to $15.3 million compared to the same period in 2023, primarily due to increased revenues [148]. Expenses - Lease operating costs decreased by 10%, or $2.13 per BOE, compared to the year-ago period [124]. - General and administrative expenses for the three months ended December 31, 2024, were $2.0 million, compared to $1.9 million in 2023 [159]. - General and administrative expenses decreased to $4.0 million for the six months ended December 31, 2024, from $4.1 million in the prior year [175]. - Depletion expense increased by $0.8 million, or 18.5%, to $5.0 million for the three months ended December 31, 2024, due to an increase in the depletion rate [158]. - Depletion expense increased by $2.2 million, or 27.0%, to $10.3 million for the six months ended December 31, 2024, due to an increase in depletable assets [174]. - Stock-based compensation expense increased by $0.1 million to $0.7 million for the three months ended December 31, 2024, compared to $0.6 million for the same period last year [161]. - Stock-based compensation expense increased by $0.2 million to $1.2 million for the six months ended December 31, 2024, compared to $1.0 million for the same period last year [176]. Cash and Capital Expenditures - As of December 31, 2024, cash and cash equivalents were $11.7 million, up from $6.4 million at June 30, 2024 [134]. - Working capital increased to $10.5 million as of December 31, 2024, from $5.9 million as of June 30, 2024 [134]. - The company incurred $2.2 million on development capital expenditures during the six months ending December 31, 2024 [145]. - For fiscal year 2025, budgeted capital expenditures are expected to be between $12.5 million and $14.5 million, excluding potential acquisitions [146]. - Cash used in investing activities decreased by $1.9 million to $3.8 million for the six months ended December 31, 2024, compared to the same period in 2023 [149]. - Net cash flows used in financing activities decreased by $2.0 million to $6.3 million for the six months ended December 31, 2024, primarily due to proceeds from the sale of common stock [150]. Debt and Interest - The Senior Secured Credit Facility has a maximum capacity of $50.0 million, with $39.5 million drawn as of December 31, 2024 [135]. - Interest expense increased by $0.7 million for the three months ended December 31, 2024, primarily due to borrowings on the Senior Secured Credit Facility [164]. - Interest expense increased by $1.5 million for the six months ended December 31, 2024, primarily due to borrowings on the Senior Secured Credit Facility [179]. - The weighted average interest rate on borrowings was 7.80% for the six months ended December 31, 2024 [179]. Tax and Derivative Contracts - Income tax expense was $0.1 million on net income before income taxes of $0.4 million for the six months ended December 31, 2024, with an effective tax rate of 31.4% [180]. - The effective tax rate increased from 28.5% in the prior year to 31.4% in the current period due to higher projected state income taxes [180]. - The company reported a net loss of $1.2 million on derivative contracts for the three months ended December 31, 2024, with an unrealized loss of $1.4 million [163]. - The company had $1.3 million in derivative assets as of December 31, 2024, with $1.1 million classified as current [177]. - The company expects energy prices to remain volatile and will monitor commodity prices to determine the need for derivative financial instruments [183]. - The company did not enter into derivative contracts for speculative trading purposes, focusing instead on risk management [183].

Evolution Petroleum (EPM) came out with a quarterly loss of $0.03 per share versus the Zacks Consensus Estimate of a loss of $0.01. This compares to earnings of $0.03 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -200%. A quarter ago, it was expected that this oil and gas company would post earnings of $0.04 per share when it actually produced earnings of $0.02, delivering a surprise of -50%.Over the last four quarters, the ...

Production Performance - Fiscal Q2 production increased 10% year-over-year to 6,935 average BOEPD, with oil production up 13%, natural gas up 9%, and NGLs up 9%[5] - Average daily production for the six months ended December 31, 2024, was 7,212 BOEPD, an increase from 6,380 BOEPD in the same period of 2023[38] - Average daily production increased to 6,935 BOEPD from 6,304 BOEPD in the previous quarter[41] - The company reported a total of 638 MBOE in equivalent production for the three months ended December 31, 2024, compared to 580 MBOE in the same period of 2023, indicating a production increase[38] - Total crude oil production for the three months ended December 31, 2024, was 179 MBBL, an increase from 159 MBBL in the previous quarter, with an average sales price of $65.72 per barrel[41] - Natural gas production reached 2,125 MMCF, up from 1,951 MMCF in the previous quarter, with an average sales price of $2.73 per MCF[41] - The company reported a significant increase in production from the SCOOP/STACK area, with crude oil production of 35 MBBL and an average price of $70.52 per barrel for the current quarter[41] - The Delhi Field produced 60 MBBL of crude oil at an average price of $68.66 per barrel, showing a decrease from 78 MBBL at $79.02 per barrel in the previous quarter[41] Financial Performance - Total revenues decreased 4% to $20.3 million compared to $21.0 million in the year-ago quarter, primarily due to a 12% decrease in average realized commodity prices[9] - The Company reported a net loss of $1.8 million or $(0.06) per share, compared to net income of $1.1 million or $0.03 per share in the year-ago period[13] - Adjusted EBITDA was $5.7 million compared to $6.8 million in the year-ago period, primarily due to decreased revenue from lower commodity prices[14] - Total revenues for the three months ended December 31, 2024, were $20,275,000, a decrease of 3.5% from $21,024,000 in the same period of 2023[27] - Net income for the three months ended December 31, 2024, was a loss of $1,825,000 compared to a net income of $1,082,000 in the same period of 2023[27] - Adjusted EBITDA for the six months ended December 31, 2024, was $13,813,000, an increase of 2.0% from $13,535,000 in the same period of 2023[33] - The company incurred interest expense of $764,000 for the three months ended December 31, 2024, compared to $34,000 in the same period of 2023[33] - The company paid common stock dividends of $4,082,000 during the three months ended December 31, 2024[30] - The unrealized loss on commodity contracts for the three months ended December 31, 2024, was $1,368 thousand, impacting the net income significantly[34] Costs and Expenses - Lease operating costs increased to $12.8 million, driven by the addition of SCOOP/STACK properties, with total LOE decreasing 6% to $20.05 per BOE[10] - The company reported lease operating costs of $12,793,000 for the three months ended December 31, 2024, up from $12,358,000 in the same period of 2023[27] - Lease operating costs for the three months ended December 31, 2024, totaled $12,793 thousand, compared to $12,358 thousand in the same period of 2023, an increase of about 3.5%[38] - Total production costs for the three months ended December 31, 2024, were $12,793,000, with an average cost of $20.05 per BOE, compared to $12,358,000 and $21.30 per BOE in the previous quarter[43] - The average production cost for the Barnett Shale was $18.03 per BOE, an increase from $16.31 per BOE in the previous quarter[43] Liquidity and Assets - Cash and cash equivalents totaled $11.7 million, with total liquidity of $22.2 million as of December 31, 2024[21] - Cash and cash equivalents increased to $11,667,000 as of December 31, 2024, from $6,446,000 at the beginning of the period[30] - Total current assets rose to $26,987,000 as of December 31, 2024, compared to $21,723,000 as of June 30, 2024[29] - Total liabilities increased to $83,915,000 as of December 31, 2024, from $81,750,000 as of June 30, 2024[29] Dividends and Shareholder Returns - The Company declared a quarterly cash dividend of $0.12 per share for the fiscal 2025 third quarter, marking the 46th consecutive quarterly dividend[22] - The weighted average number of common shares outstanding for the three months ended December 31, 2024, was 32,934,000[27] - The net income per common share, diluted, as reported for the three months ended December 31, 2024, was $(0.06), compared to $0.03 for the same period in 2023[34] Strategic Initiatives - The Company is evaluating multiple acquisition opportunities to enhance long-term growth strategy and improve cash flow generation[8] Commodity Prices - Average realized commodity price decreased 12% to $31.78 per BOE, driven by a 19% decrease in realized natural gas prices year-over-year[16] - The average price per barrel of crude oil for the three months ended December 31, 2024, was $65.72, down from $73.96 in the same period of 2023, reflecting a decrease of approximately 16.0%[38] - The average sales price for natural gas liquids was $25.90 per barrel, compared to $28.48 per barrel in the previous quarter, with total production of 105 MBBL[41]

– Fiscal Q2 Production Up 10% Y/Y to 6,935 Average BOEPD – – Declares Quarterly Dividend of $0.12 for Fiscal Third Quarter 2025 – HOUSTON, Feb. 11, 2025 (GLOBE NEWSWIRE) -- Evolution Petroleum Corporation (NYSE American: EPM) ("Evolution" or the "Company") today announced its financial and operating results for its fiscal second quarter ended December 31, 2024. The Company’s diversified portfolio continues to deliver production growth, with fiscal Q2 volumes increasing 10% year-over-year to 6,935 BOEPD. Fur ...