Evolution Petroleum (EPM)

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Evolution Petroleum (EPM) - 2022 Q4 - Annual Report
2022-09-14 21:08
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-32942 EVOLUTION PETROLEUM CORPORATION (Exact name of registrant as specified in its charter) Nevada 41-1781991 (State or other jurisd ...
Evolution Petroleum (EPM) - 2022 Q3 - Quarterly Report
2022-05-12 20:17
Financial Performance - Total revenues for the three months ended March 31, 2022, were $25,689,104, a significant increase from $7,635,748 in the same period of 2021, representing a growth of approximately 236%[14]. - Crude oil revenues reached $14,868,519 for the three months ended March 31, 2022, compared to $7,076,965 in the prior year, indicating an increase of about 110%[14]. - The company reported a net income of $5,705,811 for the three months ended March 31, 2022, compared to a net income of $1,191,001 for the same period in 2021, reflecting a growth of approximately 378%[14]. - Basic earnings per share for the three months ended March 31, 2022, were $0.17, up from $0.04 in the same period of 2021, marking a 325% increase[14]. - Net income attributable to common stockholders for the nine months ended March 31, 2022, was $17,756,384, a significant recovery from a loss of $18,654,154 in the same period of the previous year[17]. - Total revenues for the nine months ended March 31, 2022, reached $66.9 million, a 252.2% increase from $19.0 million in the same period of 2021[186]. Assets and Liabilities - Total current assets increased to $32,137,077 as of March 31, 2022, from $18,108,374 as of June 30, 2021, representing an increase of approximately 77.5%[12]. - Total assets grew to $116,207,239 as of March 31, 2022, compared to $76,705,662 as of June 30, 2021, indicating an increase of about 51.6%[12]. - Total liabilities increased to $51,447,213 as of March 31, 2022, from $22,110,859 as of June 30, 2021, reflecting an increase of approximately 132.5%[12]. - The company’s cash and cash equivalents rose to $13,368,538 as of March 31, 2022, compared to $5,276,510 as of June 30, 2021, representing an increase of about 153%[12]. - The company’s retained earnings increased to $21,354,940 as of March 31, 2022, from $12,020,064 as of June 30, 2021, reflecting a growth of approximately 77.5%[12]. Cash Flow and Expenditures - Net cash provided by operating activities increased to $28,691,050 for the nine months ended March 31, 2022, compared to $2,559,382 for the same period in 2021[17]. - The company reported capital expenditures for oil and natural gas properties of $825,872, up from $183,690 in the previous year[17]. - Cash and cash equivalents at the end of the period were $13,368,538, down from $17,039,538 at the end of the previous year[17]. - The company reported a net cash used in investing activities of $28,139,918 for the nine months ended March 31, 2022, compared to $2,508,690 in the previous year[17]. - Total company capital expenditures for the remainder of fiscal year 2022 is expected to be in the range of $0.5 million to $1.0 million[155]. Acquisitions and Investments - The Company completed the Williston Basin Acquisition on January 14, 2022, for a cash consideration of $25.7 million, funded by cash on hand and $16.0 million in borrowings[46]. - The Jonah Field Acquisition closed on April 1, 2022, with cash consideration at closing totaling $27.7 million[48]. - The company acquired non-operated working interests in 73 producing wells in the Williston Basin for cash consideration of $25.7 million[127]. Production and Revenue Breakdown - Natural gas revenue increased significantly to $6,070,866 for the three months ended March 31, 2022, compared to only $141 in the same period of 2021[39]. - Crude oil revenue for the three months ended March 31, 2022, was $14,868,519, up from $7,076,965 in the same period of 2021, reflecting a growth of about 110%[39]. - Equivalent volumes increased by 206.2% to 1,495,709 BOE for the nine months ended March 31, 2022, compared to 488,549 BOE in the prior year[186]. - Average realized crude oil price per barrel increased by 79.1% to $76.69 for the nine months ended March 31, 2022, compared to $42.81 in the prior year[198]. Derivative Contracts and Hedging - The Company reported a total net loss on derivative contracts of $2,591,465 for the three months ended March 31, 2022[103]. - The unrealized loss on derivative contracts for the same period was $2,398,237, indicating significant market volatility[103]. - The company’s derivative contracts are primarily with large utilities with investment-grade credit ratings, minimizing credit risk[113]. - The company entered into natural gas collar arrangements covering approximately 25% of natural gas production for the subsequent twelve months, with weighted average floor prices of $5.25/MMBtu and ceilings ranging from $6.67/MMBtu to $7.50/MMBtu[118]. Dividends and Stockholder Returns - Common stock dividends paid amounted to $8,421,508 for the nine months ended March 31, 2022, compared to $2,666,334 in the same period of 2021[17]. - The company declared a quarterly cash dividend of $0.10 per share of common stock, payable on June 30, 2022[120]. - The company had 33,719,621 shares of common stock outstanding, with cumulative cash dividends paid exceeding $82.9 million since December 2013[63][64]. Operational Challenges and Responses - The Company is continuously monitoring the impacts of the COVID-19 pandemic on its operations and financial results[26]. - The Company has implemented a business continuity plan to allow employees to work securely from home or the corporate office in Houston, Texas[27].
Evolution Petroleum (EPM) - 2022 Q3 - Earnings Call Transcript
2022-05-11 23:59
Evolution Petroleum Corporation (NYSE:EPM) Q3 2022 Earnings Conference Call May 11, 2022 2:00 PM ET Company Participants Ryan Stash - Chief Financial Officer Jason Brown - President and Chief Executive Officer Conference Call Participants John White - ROTH Capital John Bair - Ascend Wealth Advisors Jeff Robertson - Water Tower Research Zach Pancratz - DePrince, Race & Zollo, Inc Charles Finnie - EFW Partners Operator Good day, ladies and gentlemen. And welcome to the Evolution Petroleum Third Quarter Fiscal ...
Evolution Petroleum (EPM) - 2022 Q2 - Earnings Call Transcript
2022-02-10 22:08
Financial Data and Key Metrics Changes - For Q2 2022, net income increased by 31% to $6.8 million or $0.20 per diluted share, compared to $5.2 million or $0.16 per diluted share in the previous quarter [10] - Adjusted EBITDA rose by 20% to $10.2 million from $8.5 million in Q1 2022, with adjusted EBITDA per BOE at $22.32, a 41% increase from the prior quarter [23][34] - Total revenue grew to $22.3 million, an 18% increase from the previous quarter [34] - Cash position improved to $13.6 million, a 71% increase from September 30, 2021 [11][26] Business Line Data and Key Metrics Changes - Production in Delhi decreased by 8% to 108,245 BOE or 1,177 BOE per day, impacted by CO2 purchase suspensions and maintenance [14] - At Hamilton Dome, net production increased by 2% to 3,021 barrels or 413 barrels of oil per day due to restoration efforts [16] - Barnett assets saw a 25% decrease in production to 285,761 BOE or 3,106 BOE per day, affected by operator decisions to maximize cash flow [17] Market Data and Key Metrics Changes - The company benefited from higher commodity prices as it was unhedged during the quarter, leading to increased cash flow generation [8] - Natural gas revenue reached $9.2 million for Q2, driven by production mix adjustments [35] Company Strategy and Development Direction - The company aims to operate within cash flow while paying meaningful cash dividends to shareholders, with a focus on geographic expansion and targeted acquisitions [8][44] - Recent acquisitions in the Williston Basin and Jonah Field are expected to enhance the longevity of the dividend payout program [9][45] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the business and economic environment, declaring a third-quarter dividend of $0.10 per share, a 33% increase from the previous quarter [21][22] - The company anticipates continued cash flow generation and plans to maintain a strong balance sheet while pursuing strategic acquisitions [30][70] Other Important Information - The company amended its credit facility to reflect the acquisition of Barnett Shale assets, increasing the borrowing base to $50 million [27] - The company plans to hedge a portion of its production to protect cash flows and maintain compliance with its credit facility [32] Q&A Session Summary Question: What is the current rate on the credit facility, the interest rate? - The current interest rate is 3%, which is LIBOR plus 2.75% with a 25 basis point floor [74] Question: Looking at the two acquisitions, is there likely to be more activity in the Williston Asset compared to Jonah? - Yes, the Williston Asset is expected to have more operational activity, while Jonah will be limited to operational optimization [77] Question: Can you explain the optionality in the Williston acquisition? - The company has the flexibility to propose wells and can choose to drill or not, providing significant optionality in operations [88] Question: Is the operator continuing to ramp up CO2 injection? - CO2 injection has been ramped up to about 105 million cubic feet per day, with expectations to stabilize production over the next 18 to 24 months [84]
Evolution Petroleum (EPM) - 2022 Q2 - Quarterly Report
2022-02-10 21:26
Financial Performance - Total revenues for the three months ended December 31, 2021, were $22,338,361, a significant increase from $5,768,152 in the same period of 2020, representing a growth of approximately 287%[15]. - Net income attributable to common stockholders for the six months ended December 31, 2021, was $12,050,573, compared to a net loss of $19,845,155 for the same period in 2020, indicating a turnaround in profitability[19]. - The company reported earnings per share of $0.20 for the three months ended December 31, 2021, compared to a loss per share of $0.38 in the same period of 2020[15]. - As of December 31, 2021, the net income attributable to common stockholders was $12,050,573, compared to a net income of $6,832,172 for the three months ended December 31, 2020, reflecting a significant increase[24][25]. - Generated net income of $6.8 million ($0.20 per diluted share) in the current quarter, an increase of 30.9% from the prior quarter net income of $5.2 million ($0.16 per diluted share)[113]. - Net income attributable to common stockholders for the three months ended December 31, 2021, increased by $19.5 million to $6.8 million compared to the same year-ago quarter[162]. Revenue Sources - Oil revenue for the six months ended December 31, 2021, was $19,440,608, compared to $10,841,944 for the same period in 2020, marking an increase of 79%[38]. - The company recorded natural gas liquids revenue of $2,586,758 for the three months ended December 31, 2021, up from $305,200 in the same period of 2020, reflecting an increase of 748%[38]. - Oil revenues increased by 79.3% to $19.4 million, while natural gas liquids revenues surged by 1,271.6% to $7.1 million compared to the same period in 2020[165]. Assets and Liabilities - Cash and cash equivalents increased to $13,597,156 as of December 31, 2021, up from $5,276,510 as of June 30, 2021, reflecting a growth of approximately 158%[11]. - Total assets rose to $87,161,108 as of December 31, 2021, compared to $76,705,662 as of June 30, 2021, marking an increase of about 13.5%[11]. - Accounts payable increased to $8,188,421 as of December 31, 2021, from $5,609,367 as of June 30, 2021, representing a rise of approximately 46%[11]. - Total accrued liabilities decreased from $947,045 as of June 30, 2021, to $572,260 as of December 31, 2021, a reduction of 40%[51]. - The company’s total prepaid expenses and other current assets were $852,636 as of December 31, 2021, down from $1,037,259 as of June 30, 2021, indicating a decrease of 18%[43]. Stockholder Equity and Dividends - The company’s total stockholders' equity increased to $62,126,491 as of December 31, 2021, compared to $54,594,803 as of June 30, 2021, reflecting a growth of about 13.7%[11]. - Common stock dividends paid for the three months ended December 31, 2021, amounted to $2,522,381, compared to $837,264 for the same period in 2020, representing an increase of over 200%[25]. - The total stockholders' equity at December 31, 2021, was $62,126,491, up from $57,487,023 at September 30, 2021, indicating a growth of approximately 8.5%[24][25]. - A quarterly cash dividend of $0.10 per share was declared on February 3, 2022, payable on March 31, 2022[102]. Operational Efficiency - Operating costs for the three months ended December 31, 2021, were $13,717,940, down from $21,678,418 in the same period of 2020, a decrease of approximately 37%[15]. - The company incurred development capital expenditures of $0.6 million for the six months ended December 31, 2021, compared to $0.2 million for the same period in 2020, representing a 200% increase[44]. - Total lease operating costs rose to $10.67 million, a 255.5% increase from the prior year, with lease operating costs per BOE increasing to $23.40[153]. - The company reported a 9.9% decrease in total DD&A expense, with the oil and natural gas DD&A rate per BOE dropping by 69.0%[156]. Acquisitions and Future Plans - The company plans to continue focusing on the development of oil and natural gas properties to enhance future revenue streams[10]. - The company aims to build a diversified portfolio of oil and natural gas assets primarily through acquisitions and selective development[27]. - The company completed the acquisition of non-operated oil and natural gas assets in the Williston Basin for $25.9 million, funded with cash on hand and $16.0 million in borrowings[101]. - The company entered into a definitive purchase agreement to acquire non-operated interests in the Jonah Field for $29.4 million, expected to close on or about April 1, 2022[104]. Tax and Compliance - For the six months ended December 31, 2021, the company recognized an income tax expense of $3.3 million with an effective tax rate of 21.3%, compared to an income tax benefit of $5.5 million and an effective tax rate of 21.7% for the same period in 2020[75]. - The company anticipates receiving a $2.4 million receivable for income tax refunds related to Enhanced Oil Recovery credits within the next twelve months[77]. - The company maintained compliance with financial covenants under the Senior Secured Credit Facility, including a maximum total leverage ratio of not more than 3.00 to 1.00[85]. Market Conditions and Risks - The company is actively monitoring the impacts of the COVID-19 pandemic on its operations and has implemented business continuity plans to minimize disruptions[30]. - The company is exposed to interest rate risk but does not use derivative instruments to manage this exposure[186].
Evolution Petroleum (EPM) - 2022 Q1 - Earnings Call Transcript
2021-11-11 00:18
Financial Data and Key Metrics Changes - The company reported an adjusted EBITDA of $8.5 million, representing an over 80% increase from the fourth quarter of fiscal 2021 [10][24] - Net income for the first quarter was $5.2 million or $0.16 per diluted share, compared to $2.2 million or $0.07 per diluted share in the previous quarter [34] - Total revenue grew by 38% from the prior quarter, primarily due to a full quarter of production from Barnett Shale and a 2% increase in realized commodity prices [31] Business Line Data and Key Metrics Changes - The company produced 5,843 net BOE per day, which is about 33% higher than the fourth quarter of fiscal 2021, mainly due to the Barnett Shale assets acquisition [9] - Net production at Delhi was 118,228 BOEs, about 1,285 BOEs per day, showing a slight decrease of around 3% compared to the prior quarter [12] - Production from Barnett Shale assets was 382,115 BOEs or 4,153 BOEs per day, a 59% increase compared to the fourth quarter of fiscal 2021 [16] Market Data and Key Metrics Changes - The company benefited significantly from higher commodity pricing as it remained unhedged during the first quarter [10] - The acquisition of Barnett Shale has increased the company's exposure to natural gas, coinciding with a sharp increase in natural gas prices [19] Company Strategy and Development Direction - The company aims to operate within cash flow while maintaining and potentially increasing cash dividends to shareholders [20] - The focus remains on evaluating additional accretive opportunities for long-term growth and shareholder benefit [20] - The company plans to continue its commitment to sustainable business practices and ESG initiatives as part of its growth strategy [41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to generate cash flow and provide meaningful returns to shareholders through dividends and acquisitions [38] - The company is optimistic about future growth opportunities and plans to assess a variety of transactions [42] - Management noted the importance of maintaining a prudent approach to dividend increases due to market volatility [58][59] Other Important Information - The company declared a dividend of $0.075 per common share, a 50% increase over the prior quarter, and plans to pay this dividend on December 31, 2021 [21][23] - The company expects to pay off its $4 million drawn from its credit facility during the fiscal second quarter [26] Q&A Session Summary Question: Are there more Hamilton Dome workovers coming in the next quarter? - Management indicated that while there may be some additional workovers, the current quarter's expenses were higher than normal due to maintenance and reactivation efforts [44][46] Question: What is involved in the final settlement with Tokyo Gas? - The final settlement involves reconciling cash flows received from January 1 to the closing date, which is expected to be a positive cash inflow for the company [50][52] Question: Why did the board not increase the dividend despite strong cash generation? - Management explained that the board is cautious about increasing dividends too aggressively to avoid future reductions, emphasizing a long-term view on dividend policy [57][58]
Evolution Petroleum (EPM) - 2022 Q1 - Quarterly Report
2021-11-10 21:16
[Part I. Financial Information](index=4&type=section&id=Part%20I.%20Financial%20Information) [Item 1. Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) The company reported a significant financial turnaround with a net income of $5.2 million, driven by increased revenues [Consolidated Condensed Balance Sheets](index=4&type=section&id=Consolidated%20Condensed%20Balance%20Sheets) Total assets grew to $85.7 million, and stockholders' equity increased to $57.5 million as of September 30, 2021 Balance Sheet Items | Balance Sheet Items | September 30, 2021 | June 30, 2021 | | :--- | :--- | :--- | | **Total Current Assets** | $28,295,343 | $18,108,374 | | **Total Assets** | $85,733,043 | $76,705,662 | | **Total Current Liabilities** | $12,735,658 | $6,594,160 | | **Total Liabilities** | $28,246,020 | $22,110,859 | | **Total Stockholders' Equity** | $57,487,023 | $54,594,803 | [Consolidated Condensed Statements of Operations](index=5&type=section&id=Consolidated%20Condensed%20Statements%20of%20Operations) The company achieved a net income of $5.2 million, reversing a prior-year loss, fueled by a 237% surge in revenues Key Metrics | Metric | Three Months Ended Sep 30, 2021 | Three Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | **Total Revenues** | $18,879,010 | $5,595,376 | | **Income (Loss) from Operations** | $6,786,122 | ($9,429,720) | | **Net Income (Loss)** | $5,218,401 | ($7,135,148) | | **Diluted EPS** | $0.16 | ($0.22) | - The company recorded **no impairment of proved property** in the current quarter, whereas a **$9.6 million impairment charge** was recognized in the prior-year quarter[15](index=15&type=chunk) [Consolidated Condensed Statements of Cash Flows](index=6&type=section&id=Consolidated%20Condensed%20Statements%20of%20Cash%20Flows) Net cash from operations increased significantly to $5.6 million, resulting in a $2.7 million net increase in cash Cash Flow Activity | Cash Flow Activity | Three Months Ended Sep 30, 2021 | Three Months Ended Sep 30, 2020 | | :--- | :--- | :--- | | **Net Cash from Operating Activities** | $5,592,745 | $1,147,241 | | **Net Cash from Investing Activities** | ($390,370) | ($153,205) | | **Net Cash from Financing Activities** | ($2,524,007) | ($831,194) | | **Net Increase in Cash** | $2,678,368 | $162,842 | | **Cash at End of Period** | $7,954,878 | $19,825,370 | [Notes to Consolidated Condensed Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Condensed%20Financial%20Statements) Key disclosures include revenue growth, the absence of impairment charges, an increased dividend, and a larger credit facility - At September 30, 2020, the company recorded a **$9.6 million ceiling test impairment charge**; no impairment was recorded at September 30, 2021[47](index=47&type=chunk)[46](index=46&type=chunk) - The company paid a cash dividend of **$0.075 per share** for the first quarter of fiscal 2022, compared to $0.025 per share in the prior-year quarter[54](index=54&type=chunk) - Subsequent to the quarter end, the company amended its Senior Secured Credit Facility, increasing the **borrowing base to $50 million**[97](index=97&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=20&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong performance to higher commodity prices and production, resulting in higher net income and cash flow [Executive Overview](index=20&type=section&id=Executive%20Overview) Production rose 33% to 5,843 BOEPD, net income doubled sequentially, and the credit facility borrowing base increased - Produced **5,843 net barrels of oil equivalent per day (BOEPD)**, a **33% increase** from the prior quarter, mainly due to the Barnett Shale acquisition[108](index=108&type=chunk) - Generated **net income of $5.2 million** ($0.16 per diluted share), more than doubling the $2.2 million from the prior quarter[108](index=108&type=chunk)[111](index=111&type=chunk) - The Senior Secured Credit Facility's borrowing base was **increased by $20 million to a total of $50 million**, effective November 9, 2021[108](index=108&type=chunk) [Liquidity and Capital Resources](index=23&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity strengthened with increased cash, a larger credit facility, and a higher quarterly dividend - As of September 30, 2021, the company had **$8.0 million in cash and cash equivalents**[122](index=122&type=chunk) - The Senior Secured Credit Facility had a $30 million borrowing base with $4 million drawn, which was subsequently **increased to $50 million**[123](index=123&type=chunk) - The quarterly dividend was **increased to $0.075 per share**, effective for the quarter ended September 30, 2021[129](index=129&type=chunk) [Results of Operations](index=25&type=section&id=Results%20of%20Operations) Revenues surged 237% year-over-year due to higher production volumes and commodity prices, leading to significant net income Revenue by Product | Revenue by Product | Q1 FY2022 | Q1 FY2021 | % Change | | :--- | :--- | :--- | :--- | | Oil | $8,858,463 | $5,379,161 | 65% | | Natural Gas Liquids | $4,562,218 | $216,026 | 2,012% | | Natural Gas | $5,458,329 | $189 | n.m. | | **Total Revenues** | **$18,879,010** | **$5,595,376** | **237%** | Realized Prices | Realized Prices | Q1 FY2022 | Q1 FY2021 | % Change | | :--- | :--- | :--- | :--- | | Oil price per Bbl | $66.14 | $36.93 | 79% | | NGL price per Bbl | $28.95 | $9.11 | 218% | | Natural gas price per Mcf | $3.70 | $1.45 | 155% | - Total lease operating costs **increased 260% to $8.6 million**, primarily due to the inclusion of the Barnett Shale assets[142](index=142&type=chunk)[144](index=144&type=chunk) - The company recorded **no proved property impairment** in the current quarter, compared to a **$9.6 million impairment** in the year-ago quarter[151](index=151&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risks](index=28&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risks) The company reports no material changes to its market risk disclosures from its most recent Annual Report on Form 10-K - Information about market risks **did not change materially** from the disclosures in the Annual Report on Form 10-K for the year ended June 30, 2021[158](index=158&type=chunk) [Item 4. Controls and Procedures](index=28&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes to internal controls - The Chief Executive Officer and Chief Financial Officer concluded that as of September 30, 2021, the company's **disclosure controls and procedures are effective**[160](index=160&type=chunk) - **No changes in internal controls** over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[162](index=162&type=chunk) [Part II. Other Information](index=30&type=section&id=Part%20II.%20Other%20Information) [Item 1. Legal Proceedings](index=30&type=section&id=Item%201.%20Legal%20Proceedings) The company reported no legal proceedings during the period - The company has **no legal proceedings** to report[164](index=164&type=chunk) [Item 1A. Risk Factors](index=30&type=section&id=Item%201A.%20Risk%20Factors) The company refers to the risk factors disclosed in its Annual Report on Form 10-K, with no new risks reported - The company refers to the risk factors detailed in its **Annual Report on Form 10-K** for the year ended June 30, 2021[165](index=165&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=30&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company acquired shares from employees to cover tax obligations and has $1.0 million remaining in its repurchase program - The company received **353 shares of common stock** from employees to pay payroll taxes arising from the vesting of restricted stock at an average price of **$4.53 per share**[166](index=166&type=chunk)[167](index=167&type=chunk) - The company has a share repurchase program with a maximum value of **$1.0 million remaining** that may be purchased[167](index=167&type=chunk) [Item 5. Other Information](index=30&type=section&id=Item%205.%20Other%20Information) Subsequent to the quarter's end, the company amended its credit facility to increase the borrowing base to $50 million - On November 9, 2021, the company entered into the Eighth Amendment to its Senior Secured Credit Facility, which **increased the borrowing base to $50 million**[170](index=170&type=chunk) [Item 6. Exhibits](index=31&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including certifications and XBRL data files - The exhibits filed with the report include the **Eighth Amendment to the Credit Agreement**, CEO/CFO certifications, and Inline XBRL documents[173](index=173&type=chunk)
Evolution Petroleum (EPM) - 2021 Q4 - Annual Report
2021-09-14 20:05
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-32942 EVOLUTION PETROLEUM CORPORATION (Exact name of registrant as specified in its charter) Nevada 41-1781991 (State or other jurisd ...
Evolution Petroleum (EPM) - 2021 Q2 - Quarterly Report
2021-02-04 22:08
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-32942 EVOLUTION PETROLEUM CORPORATION (Exact name of registrant as specified in its charter) Nevada 41-1781991 ...
Evolution Petroleum (EPM) - 2021 Q1 - Quarterly Report
2020-11-06 23:31
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-32942 EVOLUTION PETROLEUM CORPORATION (Exact name of registrant as specified in its charter) Nevada 41-178199 ...