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Evolution Petroleum Reports Fiscal Third Quarter 2025 Results and Declares Quarterly Cash Dividend for Fiscal Fourth Quarter
EPMEvolution Petroleum (EPM) GlobeNewswire·2025-05-13 20:15

Core Viewpoint - Evolution Petroleum Corporation reported its financial and operational results for the fiscal third quarter ended March 31, 2025, declaring a quarterly cash dividend of 0.12 per share, marking the 47th consecutive dividend payment, reflecting the company's commitment to shareholder returns despite market volatility [1][3][23]. Financial & Operational Highlights - Average production for Q3 2025 was 6,667 BOEPD, a decrease of 4% from Q2 2025 and 8% from Q3 2024 [2][6]. - Revenues increased by 11% to 22.6 million compared to Q2 2025 but decreased by 2% compared to Q3 2024 [2][8]. - The company reported a net loss of 2.2million,or2.2 million, or (0.07) per share, compared to a net income of 0.3million,or0.3 million, or 0.01 per share, in the year-ago period [12][40]. - Adjusted EBITDA for Q3 2025 was 7.4million,a307.4 million, a 30% increase from Q2 2025 but a decrease from 8.5 million in the year-ago period [2][13]. Production & Pricing - The average realized commodity price increased by 7% to 37.60perBOE,drivenbya4037.60 per BOE, driven by a 40% increase in realized natural gas prices year-over-year [15][14]. - Total production for Q3 2025 included 1,911 BOPD of crude oil, 3,723 BOEPD of natural gas, and 1,033 BOEPD of NGLs, with oil accounting for 52% of revenue [6][14]. Operations Update - The company successfully completed and brought online four new gross wells in the Chaveroo Field, exceeding early production expectations [16][5]. - The TexMex acquisition, closed after the quarter end, is expected to contribute over 850 net BOEPD to production [5][4]. Balance Sheet, Liquidity, and Capital Spending - As of March 31, 2025, cash and cash equivalents totaled 5.6 million, with a working capital deficit of 2.7million[21].Thecompanyhad2.7 million [21]. - The company had 35.5 million in borrowings under its revolving credit facility and total liquidity of 20.1million[21][22].InQ3,thecompanypaid20.1 million [21][22]. - In Q3, the company paid 4.1 million in dividends and 4.0millioninrepaymentsofitsSeniorSecuredCreditFacility[21][4].DividendDeclarationTheBoardofDirectorsdeclaredacashdividendof4.0 million in repayments of its Senior Secured Credit Facility [21][4]. Dividend Declaration - The Board of Directors declared a cash dividend of 0.12 per share, to be paid on June 30, 2025, to stockholders of record on June 13, 2025 [23][1].