Friday, September 11, 2015 9:26:24 AM
HOUSTON, Sept. 9, 2015 /PRNewswire/ -- Evolution Petroleum Corporation (NYSE MKT: EPM) today reported financial and operating highlights for its fiscal year and fourth quarter ended June 30, 2015, with comparisons to fiscal third quarter ended March 31, 2015 (the "prior quarter") and the quarter ended June 30, 2014 (the "year-ago quarter"), as well as the last fiscal year ended June 30, 2014.
Highlights:
•
Generated net income of $1.7 million or $0.05 per diluted share, on record revenues of $9.1 million in the current quarter;
•
Generated net income of $4.3 million or $0.13 per diluted share, in the fiscal year;
•
Returned $10.5 million to shareholders in the form of cash dividends during fiscal 2015;
•
Initiated a common stock repurchase program of up to $5.0 million;
•
Commenced construction of a natural gas liquids ("NGL") recovery plant at Delhi;
•
Maintained our strong financial position and debt-free balance sheet.
Randy Keys, President and Chief Financial Officer, said: "We are pleased to report net income for the fourth consecutive fiscal year, despite significantly lower oil prices in fiscal 2015 and a challenging industry environment. During the quarter, we entered into derivative transactions to provide the Company with downside protection on two-thirds of our estimated production for the remainder of the calendar year at an average West Texas Intermediate ("WTI") price of $55 per barrel.
"Our Delhi field continues to add value to the Company as the reversion of our 23.9% working interest became effective on November 1, 2014. As previously announced, our proved reserve volumes totaled 12.4
1
MMBOE and our high quality probable reserves totaled 9.43 MMBOE as of June 30, 2015. The construction of the NGL plant at Delhi is underway and we are anticipating start-up in the second half of calendar 2016. We expect a significant increase in production volumes and cash flow once the plant is operational and the recovered methane is utilized to drive down operating costs in the field."
Recent EPM News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/08/2024 08:16:03 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 08:15:26 PM
- Evolution Petroleum Reports Third Quarter Fiscal 2024 Results and Declares Quarterly Cash Dividend for the Fiscal 2024 Fourth Quarter • GlobeNewswire Inc. • 05/07/2024 08:10:00 PM
- Evolution Petroleum Schedules Fiscal Third Quarter 2024 Earnings Release and Conference Call • GlobeNewswire Inc. • 04/23/2024 08:15:00 PM
- Evolution Petroleum to Participate in Water Tower Research Fireside Chat and Provides Update on SCOOP/STACK and Chaveroo Operations • GlobeNewswire Inc. • 03/07/2024 09:39:44 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 09:15:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/23/2024 09:15:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 09:15:15 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/13/2024 09:15:19 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 02/07/2024 09:15:58 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/06/2024 09:15:59 PM
- Evolution Petroleum Reports Second Quarter Fiscal 2024 Results and Declares Quarterly Cash Dividend for the Fiscal 2024 Third Quarter • GlobeNewswire Inc. • 02/06/2024 09:10:00 PM
- Evolution Petroleum Schedules Fiscal Second Quarter 2024 Earnings Release and Conference Call • GlobeNewswire Inc. • 01/31/2024 09:44:12 PM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 01/25/2024 09:59:23 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/10/2024 09:15:27 PM
- Evolution Petroleum Announces Acquisition of Non-operated Oil and Gas Assets • GlobeNewswire Inc. • 01/09/2024 09:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/21/2023 09:15:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/11/2023 09:15:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/11/2023 09:15:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/11/2023 09:15:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/11/2023 09:15:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/11/2023 09:15:13 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/08/2023 09:15:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/21/2023 09:15:19 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/08/2023 09:10:28 PM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM
Moon Equity Holdings, Corp. Announces Acquisition of Wikolo, Inc. • MONI • May 7, 2024 9:48 AM