Loading...
•
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.
Evolution Petroleum
Evolution Petroleum
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.