Evolution Petroleum reports Q4 EPS 0c vs. 44c last year

Reports Q2 revenue $18.2M vs. $42.0M last year. Total production for the fourth quarter of fiscal 2023 was 6,484 net BOEPD, including 1,736 barrels per day (“BOPD”) of crude oil; 22,462 thousand cubic feet per day (“MCFPD”), or 3,748 BOEPD, of natural gas; and 1,000 BOEPD of natural gas liquids (“NGLs”). Kelly Loyd, CEO, commented, “Despite a challenging fiscal fourth quarter that was impacted by much lower quarter over quarter price realizations and extended downtime and maintenance across multiple fields, we are pleased to announce our 2023 fiscal full-year results, in which we recorded our highest ever levels of revenue, production and net income. It was a year of transition that saw EPM strengthen its team of highly valued professionals, fully integrate and absorb previous acquisitions, and focus on process, setting the Company and our shareholders up for future success. Our commitment to providing long-term total returns to our shareholders is underscored by our consistent dividend history and share repurchases. We paid our 39th consecutive quarterly dividend in June, totaling $0.48 per common share for the current fiscal year, representing a remarkable 37% increase from the dividends paid in fiscal 2022 and demonstrating the Board’s confidence in sustaining the increased payout. Our strong cash flow generation from low-decline reserves, zero outstanding debt, and significant liquidity highlight our disciplined approach to maximizing total shareholder returns as we continue to evaluate accretive opportunities to prudently grow the business for the long-term benefit of our shareholders.”