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Evolution Petroleum posted a net income of $824,000 on $21.3 million in revenue for Q1 2026, with production remaining steady but profit pressured by lower oil and NGL prices and higher operating costs.
Revenue declined 3% YoY to $21.3 million due to lower oil and NGL prices.
Net income dropped to $824,000 from $2.1 million in Q1 2025.
Natural gas revenue increased 38% YoY to $5.9 million.
Production held steady at 7,315 BOEPD, supported by new acquisitions.
The company remains focused on maintaining its dividend through strategic acquisitions and operational efficiency, with expectations of improving production and margins in future quarters.