Evolution Petroleum Corporation - EPM STOCK NEWS

Evolution Petroleum (EPM) reported a 32% surge in revenues to $7.6 million for Q3 ended March 31, 2021, primarily driven by a 38% increase in average realized oil prices. The company declared a 67% increase in the upcoming dividend to $0.05 per share, marking its 31st consecutive payout. Despite a 5% decline in production to 1,708 BOEPD, cash flow exceeded the dividend, ending the quarter with $17 million in cash and no debt. The acquisition of Barnett Shale assets for $18.2 million was finalized, adding significant natural gas reserves and production capacity.

Evolution Petroleum has successfully closed an acquisition of non-operated oil and gas assets in the Barnett Shale for $18.2 million, enhancing its asset base and supporting long-term dividend strategies. The acquisition, effective January 1, 2021, includes approximately 21,000 net acres and adds 50 Bcf of natural gas and 5 MMBls of liquids proved reserves. This move diversifies Evolution's portfolio into gas, improving the sustainability of dividends and reducing volatility risk, as stated by CEO Jason Brown.

Evolution Petroleum Corporation (NYSE American:EPM) will release its financial and operational results for the quarter ending March 31, 2021, on May 10, 2021. An investor conference call will follow on May 11, 2021, at 2:00 p.m. Eastern to discuss these results, featuring President & CEO Jason Brown and CFO Ryan Stash. The call can be accessed by calling 888-506-0062 or via webcast on the company’s website. Evolution Petroleum aims to provide a sustainable dividend yield through the management and development of oil and gas properties, focusing on diversified asset acquisition.

Evolution Petroleum has announced a definitive agreement to acquire non-operated oil and gas assets in the Barnett Shale from TG Barnett Resources for $23.25 million. The deal, effective January 1, 2021, aims to enhance the Company's production and reserves. With net production of approximately 22 MMcf/d of natural gas and 1.3 MBbls/d of liquids, the acquisition adds 70 Bcf of gas and 5 MMBbls of liquids PDP reserves. The transaction requires minimal additional expenses and supports the Company's dividend strategy.

Evolution Petroleum Corporation appointed Marjorie Hargrave to its Board of Directors effective March 1, 2021. Hargrave, who will serve as Chairman of the Audit Committee, brings extensive experience in financial management, strategic planning, and investment banking. She previously served as CFO of companies that significantly increased revenues, including CTAP, which grew revenue to $800 million, and High Sierra Energy, which expanded to $2.5 billion. Her addition strengthens the Board's financial oversight amidst anticipated company growth.

Evolution Petroleum Corporation (NYSE American:EPM) will announce its financial results for the quarter ended December 31, 2020, on February 3, 2021. An investor conference call to discuss these results is scheduled for February 4, 2021, at 2:00 p.m. Eastern. This call will be hosted by CEO Jason Brown and CFO Ryan Stash. Key assets include CO₂ enhanced oil recovery projects in Louisiana's Delhi field and a secondary recovery project in Wyoming's Hamilton Dome field. Details regarding the call and company information can be accessed through their website.

Evolution Petroleum (EPM) reported significant financial results for the fiscal first quarter ending September 30, 2020. Total revenues rose to $5.6 million, a 67% increase from the prior quarter, mainly due to a 66% rise in average realized oil prices. The company maintained a debt-free status and paid its 28th consecutive dividend of $0.025 per share. Despite a net loss of $7.1 million, driven by a non-cash impairment of $9.6 million, the company ended the quarter with $19.8 million in cash.

Evolution Petroleum Corporation (NYSE American:EPM) will release its financial results for the quarter ended September 30, 2020, after market close on November 5, 2020. An investor conference call is scheduled for November 6, 2020, at 2:00 p.m. Eastern time, hosted by CEO Jason Brown and CFO David Joe. The company aims to provide a sustainable dividend yield and focuses on developing oil and gas properties in the U.S. Key projects include a CO₂ enhanced oil recovery project in Louisiana and a secondary recovery project in Wyoming.

Evolution Petroleum Corporation (EPM) reported financial results for FY 2020. The company achieved a net income of $5.9 million ($0.18 per share) for the ninth consecutive year, while returning $10.7 million in dividends and repurchasing $2.5 million in stocks. Despite challenges from the COVID-19 pandemic, cash flow from operations funded its capital expenditures. Oil production in Q4 was 1,630 BOPD, but revenues fell significantly: oil revenue decreased 56% to $3.3 million. Cash reserves stood at $19.7 million, and the company remains debt-free, focusing on opportunities for growth amid market volatility.