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Mar 31, 2021
Evolution Petroleum Q3 2021 Earnings Report
Announced results for the fiscal 2021 third quarter and declared increased quarterly stock dividend.
Key Takeaways
Evolution Petroleum reported a 32% increase in total revenues compared to the prior quarter, driven by a 38% increase in the average realized oil price. The company generated cash flow in excess of the quarterly dividend and closed on the acquisition of non-operated oil and gas assets in the Barnett Shale. A 67% increase in the dividend was declared.
Paid the 30th consecutive quarterly cash dividend on common shares on March 31, 2021.
Declared a $0.05 per share dividend for the 4th fiscal quarter payable on June 30, 2021, representing a 67% increase from the prior quarter.
Closed on substantially all of the previously announced acquisition of non-operated oil and gas assets in the Barnett Shale for $18.2 million on May 7, 2021.
Increased total revenues 32% over the prior quarter to $7.6 million.
Forward Guidance
Evolution Petroleum anticipates resuming conformance workover projects and incurring additional maintenance capital expenditures as oil prices recover. Capital expenditures are expected to be in the range of $0.25 million to $0.5 million for the remaining three months of fiscal 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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