Evolution Petroleum Corporation reported a 10% year-over-year increase in fiscal Q2 production, reaching 6,935 BOEPD, driven by SCOOP/STACK acquisitions and new wells. Despite this, total revenues decreased by 4% due to a 12% decrease in average realized commodity prices, leading to a net loss of $1.8 million.
Fiscal Q2 production increased 10% year-over-year to 6,935 average barrels of oil equivalent per day (BOEPD).
Total revenues decreased 4% to $20.3 million, primarily due to a 12% decrease in average realized commodity prices.
The company reported a net loss of $1.8 million, or $(0.06) per share, compared to a net income of $1.1 million in the prior year.
Evolution declared its 46th consecutive quarterly cash dividend of $0.12 per common share for the fiscal 2025 third quarter.
Evolution Petroleum is committed to driving long-term shareholder value through high-quality, low-decline assets, expanding drilling inventory, and maintaining a strong financial foundation. The company is evaluating multiple acquisition opportunities to enhance growth and cash flow generation.
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