Evolution Petroleum Corp
AMEX:EPM
Evolution Petroleum Corp
Evolution Petroleum Corp. is an oil and gas company. The company is headquartered in Houston, Texas and currently employs 5 full-time employees. The firm is focused on the ownership, management, and development of producing oil and natural gas properties onshore in the United States. The firm's producing assets consist of its interests in the Delhi Holt-Bryant Unit in the Delhi field in Northeast Louisiana, a Carbon dioxide (CO2) enhanced oil recovery (EOR) project, its interests in the Hamilton Dome field located in Hot Springs County, Wyoming, a secondary recovery field utilizing water injection wells to pressurize the reservoir, its interests in the Barnett Shale located in North Texas, a natural gas producing shale reservoir, and overriding royalty interests in two onshore central Texas wells. The firm also acquired non-operated working interests in the Barnett Shale consisting of approximately 21,000 net acres held by production across nine North Texas counties in the Barnett Shale.
Evolution Petroleum Corp. is an oil and gas company. The company is headquartered in Houston, Texas and currently employs 5 full-time employees. The firm is focused on the ownership, management, and development of producing oil and natural gas properties onshore in the United States. The firm's producing assets consist of its interests in the Delhi Holt-Bryant Unit in the Delhi field in Northeast Louisiana, a Carbon dioxide (CO2) enhanced oil recovery (EOR) project, its interests in the Hamilton Dome field located in Hot Springs County, Wyoming, a secondary recovery field utilizing water injection wells to pressurize the reservoir, its interests in the Barnett Shale located in North Texas, a natural gas producing shale reservoir, and overriding royalty interests in two onshore central Texas wells. The firm also acquired non-operated working interests in the Barnett Shale consisting of approximately 21,000 net acres held by production across nine North Texas counties in the Barnett Shale.
Profitability Surge: Adjusted EBITDA jumped 41% year-over-year, significantly outpacing the 2% increase in revenue, highlighting strong operating leverage.
Positive Net Income: The company swung from a net loss a year ago to net income of $1.1 million, or $0.03 per diluted share, for the quarter.
Cost Improvements: Lease operating expenses dropped sharply to $16.96 per BOE from $20.05 per BOE last year, thanks to lower costs in several assets and the end of CO2 purchases at Delhi.
Mineral & Royalty Growth: Recent acquisitions in minerals and royalties are boosting high-margin cash flow and are expected to contribute more in coming quarters, especially with the Haynesville/Bossier assets.
Capital Discipline: CapEx remained modest despite production growth, and management reaffirmed plans to keep capital requirements low while focusing on accretive acquisitions.
Outlook: Management expects further improvements in operating costs and incremental production as recent downtime issues are resolved and new wells come online.
Dividend Commitment: The company paid $4.2 million in dividends and declared a $0.12 per share quarterly dividend, underscoring a focus on shareholder returns.
