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Sep 30, 2023
Evolution Petroleum Q1 2024 Earnings Report
Reported financial results for the first quarter of fiscal year 2024 and declared a quarterly cash dividend.
Key Takeaways
Evolution Petroleum reported a 13% sequential increase in revenue to $20.6 million, a net income increase of 788% to $1.5 million, and earnings per share of $0.04. The company also generated Adjusted EBITDA of $6.7 million, a 43% increase over the prior quarter, and produced 6,457 net barrels of oil equivalent per day.
Entered into a participation agreement with PEDEVCO Corp. to jointly develop horizontal wells in the Chaveroo oilfield in the Permian Basin in New Mexico.
Reported sequential growth in revenue of 13% to $20.6 million, net income of 788% to $1.5 million, and earnings per share from $0.00 to $0.04 per diluted share.
Generated Adjusted EBITDA of $6.7 million for the current quarter – an increase of 43% over the prior quarter.
Produced 6,457 net barrels of oil equivalent per day in the first quarter of fiscal 2024.
Revenue by Segment
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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