GlobeNewswire·Nov 10, 2026, 4:31 PM ET

Evolution Petroleum Reports Fiscal First Quarter 2027 Results and Declares $0.12 per Share Cash Dividend for the Fiscal Second Quarter

EPM

Evolution Petroleum Corporation reported fiscal first quarter 2027 results ending September 30, 2026, with average production of 6,978 BOEPD, a 5% decrease year-over-year.
Oil, natural gas, & NGL revenues increased 6% to $22.55 million, driven by an 11% rise in average realized equivalent prices to $35.13 per BOE.
The Company reported a net loss of $2.99 million ($0.08 per share) compared to net income of $0.82 million in the prior year quarter, while adjusted net loss narrowed to $0.31 million.
Adjusted EBITDA decreased 6% to $6.84 million, primarily due to lower production volumes & lower natural gas prices compared to the prior period.
Lease operating costs declined to $12.36 million ($19.25 per BOE), reflecting lower costs at TexMex following an operator change & reduced taxes at Jonah Field.
The Permian Minerals portfolio exceeded expectations with ~218 BOE/d production since the August 20 acquisition, with 21 gross wells brought online between closing & quarter-end.
Subsequent to quarter-end, the Company completed a farmout of 636 net acres in the Williston Basin for approximately $2.5 million plus a small overriding royalty interest.
Management plans to return $4.9 million to shareholders via cash dividends in Q1, with cash flow from operations before working capital changes of $8.4 million.
As of September 30, 2026, the Company held $3.1 million in cash, $60.0 million in outstanding borrowings, & total liquidity of $15.3 million.
On November 9, 2026, the Board declared its 18th consecutive $0.12 per share cash dividend, payable on December 31, 2026, marking the 53rd consecutive quarterly payment.
Production volumes were impacted by unplanned downtime at Delhi & TexMex, partially offset by M&R acquisitions in the Haynesville, Bossier Shales, & Permian.
Capital spending included $16.0 million for Permian Minerals acquisitions, $0.7 million in capital expenditures, & $4.9 million in dividends paid during the quarter.
The Senior Secured Credit Facility borrowing base was redetermined on October 20, 2026, to $70.0 million, with $9.2 million available as of that date.
Average realized crude oil prices rose 31% to $81.74 per barrel, while NGL prices increased 26% to $29.47 per barrel; natural gas prices fell 8% to $2.51 per MCF.
The Company continues to evaluate drilling opportunities at Chaveroo Field & has 92 gross PDP wells plus additional locations in its Louisiana Haynesville & Bossier Shale portfolio.

Company: Evolution Petroleum Corporation
Keywords: NYSE:EPM, Evolution Petroleum Corporation, Dividends, energy conference, Energy, EPM, Evolution, Evolution Petroleum, M&A, oil & gas, shareholder return, minerals & royalties