EVOLUTION PETROLEUM CORP

For the period ended Dec 31, 2024. Filed Feb 12, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Dec 31, 2024 · Filed Feb 12, 2025

EPM$3.57+0.8%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. Condensed Consolidated Financial Statements (Unaudited)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In thousands, except share and per share amounts)


· December 31, 2024 · June 30, 2024
Assets · · · ·
Current assets · · · ·
Cash and cash equivalents	$11,667	$6,446
Receivables from crude oil, natural gas, and natural gas liquids revenues	10,675	10,826
Derivative contract assets	1,073	596
Prepaid expenses and other current assets	3,572	3,855
Total current assets	26,987	21,723
Property and equipment, net of depletion, depreciation, and impairment
Oil and natural gas properties, net—full-cost method of accounting, of which none were excluded from amortization	131,722	139,685

Other noncurrent assets
Derivative contract assets	250	171
Other assets	1,258	1,298
Total assets	$160,217	$162,877
Liabilities and Stockholders' Equity
Current liabilities
Accounts payable	$10,771	$8,308
Accrued liabilities and other	5,249	6,239
Derivative contract liabilities	439	1,192
State and federal taxes payable	—	74
Total current liabilities	16,459	15,813
Long term liabilities
Senior secured credit facility	39,500	39,500
Deferred income taxes	6,673	6,702
Asset retirement obligations	19,993	19,209
Derivative contract liabilities	1,277	468
Operating lease liability	13	58
Total liabilities	83,915	81,750
Commitments and contingencies (Note 10)
Stockholders' equity
Common stock; par value $0.001; 100,000,000 shares authorized: issued and
outstanding 34,076,846 and 33,339,535 shares as of December 31, 2024
and June 30, 2024, respectively	34	33
Additional paid-in capital	44,140	41,091
Retained earnings	32,128	40,003
Total stockholders' equity	76,302	81,127
Total liabilities and stockholders' equity	$160,217	$162,877

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In thousands, except per share amounts)


· Three Months Ended · · Six Months Ended
· · December 31, · · December 31,
· 2024 · · 2023 · · 2024 · 2023
Revenues
Crude oil	$11,763	$11,759	$26,500	$24,375
Natural gas	5,793	6,531	10,078	12,083
Natural gas liquids	2,719	2,734	5,593	5,167
Total revenues	20,275	21,024	42,171	41,625
Operating costs
Lease operating costs	12,793	12,358	24,583	24,241
Depletion, depreciation, and accretion	5,433	4,598	11,158	8,860
General and administrative expenses	2,654	2,502	5,181	5,105
Total operating costs	20,880	19,458	40,922	38,206
Income (loss) from operations	(605)	1,566	1,249	3,419
Other income (expense)
Net gain (loss) on derivative contracts	(1,219)	—	579	—
Interest and other income	52	104	109	220
Interest expense	(764)	(34)	(1,587)	(66)
Income (loss) before income taxes	(2,536)	1,636	350	3,573
Income tax (expense) benefit	711	(554)	(110)	(1,017)
Net income (loss)	$(1,825)	$1,082	$240	$2,556
Net income (loss) per common share:
Basic	$(0.06)	$0.03	$—	$0.08
Diluted	$(0.06)	$0.03	$—	$0.08
Weighted average number of common shares outstanding:
Basic	32,934	32,693	32,828	32,676
Diluted	32,934	32,900	32,994	32,940

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.