Evolution Petroleum (US:EPM)2025-11-12 11:08Production and Revenue - Average production for fiscal Q1 2026 was 7,315 BOEPD, a 2% decrease from 7,478 BOEPD in the year-ago period[14] - Total revenues decreased by 3% to $21.3 million compared to $21.9 million in Q1 2025, primarily due to lower realized oil and NGL prices[7] - Natural gas revenue increased by 38% to $5.9 million in fiscal Q1 compared to the same period last year[5] - The average realized commodity price for Q1 2026 was $31.63 per BOE, slightly down from $31.83 per BOE in the year-ago period[15] - Total revenues for the three months ended September 30, 2025, were $21,288,000, a decrease of 2.8% from $21,896,000 in the previous quarter[40] Income and Earnings - Net income for Q1 2026 was $0.8 million, or $0.02 per diluted share, down 60% from $2.1 million, or $0.06 per diluted share, in Q1 2025[11] - Adjusted EBITDA for Q1 2026 was $7.3 million, a 10% decrease from $8.1 million in the prior year[11] - Net income for the three months ended September 30, 2025, was $824 million, a decrease of 60% compared to $2,065 million for the same period in 2024[31] - Adjusted EBITDA for the three months ended September 30, 2025, was $7,301 million, down from $8,125 million in the previous quarter, reflecting a decline of about 10.1%[35] Costs and Expenditures - Lease operating costs rose to $13.1 million, up from $11.8 million in the year-ago quarter, with a per-unit cost of $19.45 per BOE[8] - Total lease operating costs increased to $13,087,000, representing an increase of 11% from $11,790,000 in the previous quarter[40] - Capital expenditures for oil and natural gas properties amounted to $3,818 million for the three months ended September 30, 2025, compared to $4,721 million in the previous quarter, a reduction of about 19.1%[31] Cash Flow and Liquidity - Total liquidity as of September 30, 2025, was $11.9 million, with cash and cash equivalents of $0.7 million and outstanding borrowings of $53.0 million[21] - Cash and cash equivalents decreased to $714 million at the end of the period, down from $2,507 million at the end of the previous quarter, a decline of approximately 71.5%[31] - The company reported cash flows from operating activities of $7,805 million for the three months ended September 30, 2025, compared to $10,456 million in the previous quarter, a decrease of approximately 25.3%[31] Dividends and Shareholder Returns - The company declared a cash dividend of $0.12 per share for the 14th consecutive quarter, payable on December 31, 2025[22] - Common stock dividends paid were $4,157 million for the three months ended September 30, 2025, slightly up from $4,033 million in the previous quarter[31] Assets and Liabilities - Total assets increased to $169,131 million as of September 30, 2025, up from $160,252 million on June 30, 2025, representing a growth of approximately 5.5%[30] - Total liabilities increased to $100,000 million as of September 30, 2025, compared to $88,439 million on June 30, 2025, indicating an increase of about 13.5%[30] - The company’s retained earnings decreased to $21,796 million as of September 30, 2025, down from $25,129 million on June 30, 2025, a decline of approximately 13.4%[30] Production Details - Crude oil production for the quarter was 207 MBBL, with an average price of $62.18 per barrel, down from $72.24 per barrel in the previous quarter[43] - Natural gas production was 2,150 MMCF, with an average price of $2.74 per MCF, compared to $1.92 per MCF in the previous quarter[43] - The company produced 673 MBOE in total equivalent production, a decrease from 688 MBOE in the previous quarter[43] Derivative Contracts - The company has open crude oil derivative contracts with a total volume of 5,895 BBL at a fixed price of $72.00 for October 2025 - December 2025[49] - The company has a total of 2,090,828 MMBTU of natural gas swaps at a fixed price of $3.60 for October 2025 - December 2026[49] - The company has a collar contract for crude oil with a volume of 10,258 BBL, with a floor price of $60.00 and a ceiling price of $63.00 for October 2025 - December 2025[49] - The company has a total of 2,921,728 MMBTU of natural gas swaps at a fixed price of $3.57 for October 2025 - December 2027[49] - The company has a collar contract for natural gas with a volume of 222,725 MMBTU, with a floor price of $4.00 and a ceiling price of $4.95 for October 2025 - December 2025[49] - The company has a collar contract for natural gas with a volume of 375,481 MMBTU, with a floor price of $3.60 and a ceiling price of $5.00 for January 2026 - March 2026[49] - The company has a collar contract for natural gas with a volume of 578,214 MMBTU, with a floor price of $3.50 and a ceiling price of $4.44 for January 2026 - December 2026[49] - The company has a collar contract for natural gas with a volume of 952,588 MMBTU, with a floor price of $3.50 and a ceiling price of $4.55 for April 2026 - October 2026[49] - The company has a collar contract for crude oil with a volume of 40,872 BBL, with a floor price of $50.00, a ceiling price of $60.00, and a third price of $70.45 for September 2026 - December 2026[49] - The company has a collar contract for crude oil with a volume of 26,130 BBL, with a floor price of $50.00, a ceiling price of $57.00, and a third price of $70.22 for October 2026 - December 2026[49]