Evolution Petroleum Corporation - EPM STOCK NEWS

Evolution Petroleum (NYSE American:EPM) announced the acquisition of oil-weighted, non-operated assets in the Williston Basin for $25.9 million. The transaction, closing on January 14, 2022, includes 50% interests from Foundation Energy Management, adding approximately 2.3 MMBOE of reserves and increasing net daily production by 10%. Evolution expects enhanced cash flow to support its quarterly dividend, with minimal overhead increases. The deal solidifies a partnership for future drilling initiatives and is aligned with the company’s strategy for sustainable dividend growth.

Evolution Petroleum Corporation (NYSE American:EPM) will participate in the virtual Capital One Securities 16th Annual Energy Conference on December 6-7, 2021. CEO Jason Brown will hold virtual one-on-one meetings with investors; however, there will be no formal presentation. An investor deck will be available on the company’s website under the ‘Presentations & Events’ section on the morning of the conference. Evolution focuses on delivering sustainable dividend yields through oil and natural gas asset management in the U.S.

Evolution Petroleum reported a net income of $5.2 million for Q1 FY2022, a 135% increase from the prior quarter. The company produced 5,843 BOEPD, up 33% quarter-over-quarter, and increased Adjusted EBITDA by over 80% to $8.5 million. Revenue rose 38% to $18.9 million, driven by higher production from the Barnett Shale assets. A quarterly dividend of $0.075 was declared, a 50% increase from the previous quarter. Cash balance increased to $8.0 million, with a strong balance sheet and no net debt.

Evolution Petroleum Corporation (NYSE American: EPM) announced the release of its financial and operational results for the first quarter ending September 30, 2021, on November 9, 2021, after market close. An investor conference call will follow on November 10, 2021, at 2:00 p.m. Eastern. The call will feature President & CEO Jason Brown and CFO Ryan Stash. Evolution focuses on sustainable dividend yields through oil and natural gas management in the U.S., emphasizing CO₂ enhanced oil recovery and diverse asset acquisition.

Evolution Petroleum (NYSE American:EPM) reported significant operational and financial growth for the fiscal year ending June 30, 2021. Highlights include a 156% increase in production to 4,378 BOEPD, a quarterly net income of $2.2 million ($0.07/share), and a 50% dividend increase to $0.075 per share. The company completed the acquisition of Barnett Shale assets for $18.3 million, boosting proved reserves by 129% to 23.4 MMBOE. Total revenue for the year was $32.7 million, with oil revenue slightly down at $26.4 million. Despite challenges, a strong balance sheet remains with no net debt.

Evolution Petroleum (EPM) has declared a cash dividend of $0.075 per share for Q1 FY2022, marking the 32nd consecutive quarterly dividend. This represents a substantial 50% increase from the previous rate and is 150% higher than last year’s dividend. The increase is attributed to improved commodity prices and cash flow from recent acquisitions, particularly in the Barnett Shale. Over $77 million has been distributed to shareholders since dividend initiation in 2013, showcasing ongoing commitment to shareholder returns.

Evolution Petroleum Corporation (NYSE American: EPM) will announce its financial results for the fiscal year ending June 30, 2021, on September 13, 2021, after market close. An investor conference call for review will take place on September 14, 2021, at 2:00 p.m. Eastern, hosted by President & CEO Jason Brown and CFO Ryan Stash. The call can be accessed at 844-369-8770 (U.S. & Canada toll-free) or via webcast at this link. A replay will be available post-call until December 13, 2021.

Evolution Petroleum (NYSE American: EPM) reported a significant increase in its proved reserves for the fiscal year ending June 30, 2021, totaling 23.4 MMBOE, up from 10.2 MMBOE in the previous year. This increase was bolstered by the acquisition of long-life producing assets in the Barnett Shale, adding 13.1 MMBOE. Positive revisions occurred at the Delhi and Hamilton Dome fields, thanks to resuming operations and favorable pricing. The SEC pricing used was $49.72 per barrel of oil and $2.46 per MCF of natural gas.