10-Q Filing

EVOLUTION PETROLEUM CORP CIK: 1006655 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001006655-14-000034`
Period End Date	20140930
Filing Date	20141107
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	epm-20140930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 47 Cash Flow Statement 69 Stockholders Equity 13

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.37M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.93M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.94M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$25.68M	USD	Point-in-time
Oil and natural gas sales	`OilAndNaturalGasSalesReceivablesCurrent`	$1.27M	USD	Point-in-time
Oil and natural gas sales	`OilAndNaturalGasSalesReceivablesCurrent`	$1.46M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other	`OtherReceivablesNetCurrent`	$1.07K	USD	Point-in-time
Other	`OtherReceivablesNetCurrent`	$23.52K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNetCurrent`	$159.62K	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNetCurrent`	$159.62K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$632.71K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$747.45K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$23.45M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.30M	USD	Point-in-time
Oil and natural gas property and equipment, net (full-cost method of accounting)	`OilAndGasPropertyFullCostMethodNet`	$37.65M	USD	Point-in-time
Oil and natural gas property and equipment, net (full-cost method of accounting)	`OilAndGasPropertyFullCostMethodNet`	$37.82M	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$424.83K	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$444.94K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$38.25M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$38.10M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$464.05K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$527.34K	USD	Point-in-time
Common stock, shares outstanding	`SharesOutstanding`	32.80M	shares	Point-in-time
Total assets	`Assets`	$65.02M	USD	Point-in-time
Total assets	`Assets`	$62.08M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	32.80M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$611.55K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$441.72K	USD	Point-in-time
State and federal income taxes payable	`TaxesPayableCurrent`	-	USD	Point-in-time
State and federal income taxes payable	`TaxesPayableCurrent`	$44.17K	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$2.56M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$874.01K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.00M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$9.90M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$10.02M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$205.51K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$209.03K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$31.43K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$35.72K	USD	Point-in-time
Total liabilities	`Liabilities`	$13.14M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.79M	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $0.001; 5,000,000 shares authorized:8.5% Series A Cumulative Preferred Stock, 1,000,000 shares authorized, 317,319 shares issued and outstanding at September 30, 2014 and June 30, 2014 with a liquidation preference of $7,932,975 ($25.00 per share)	`PreferredStockAndSeriesAPreferredStockValueIssued`	$317.00	USD	Point-in-time
Preferred stock, par value $0.001; 5,000,000 shares authorized:8.5% Series A Cumulative Preferred Stock, 1,000,000 shares authorized, 317,319 shares issued and outstanding at September 30, 2014 and June 30, 2014 with a liquidation preference of $7,932,975 ($25.00 per share)	`PreferredStockAndSeriesAPreferredStockValueIssued`	$317.00	USD	Point-in-time
Common stock; par value $0.001; 100,000,000 shares authorized: issued and outstanding 32,797,743 shares and 32,615,646 as of September 30, 2014 and June 30, 2014, respectively	`CommonStockValue`	$32.80K	USD	Point-in-time
Common stock; par value $0.001; 100,000,000 shares authorized: issued and outstanding 32,797,743 shares and 32,615,646 as of September 30, 2014 and June 30, 2014, respectively	`CommonStockValue`	$32.62K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$34.63M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$35.36M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$14.89M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$17.21M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$51.88M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$50.28M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$62.08M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$65.02M	USD	Point-in-time

Income Statement 47 line items

Line Item	Tag	Value	Unit	Period
Delhi field	`RevenueFromCrudeOil`	$4.43M	USD	1 Quarter
Delhi field	`RevenueFromCrudeOil`	$3.87M	USD	1 Quarter
Artificial lift technology	`LicensesRevenue`	$142.09K	USD	1 Quarter
Artificial lift technology	`LicensesRevenue`	$115.86K	USD	1 Quarter
Other properties	`NaturalGasProductionRevenue`	$61.80K	USD	1 Quarter
Other properties	`NaturalGasProductionRevenue`	$20.37K	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$4.63M	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$4.00M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$243.34K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$373.44K	USD	1 Quarter
Production costs - artificial lift technology	`CostOfServicesLicensesAndServices`	$197.36K	USD	1 Quarter
Production costs - artificial lift technology	`CostOfServicesLicensesAndServices`	$163.75K	USD	1 Quarter
Production costs - other properties	`ExplorationAndProductionCosts`	$88.02K	USD	1 Quarter
Production costs - other properties	`ExplorationAndProductionCosts`	$254.50K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$369.35K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$309.67K	USD	1 Quarter
Accretion of discount on asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$12.93K	USD	1 Quarter
Accretion of discount on asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$41.63K	USD	Annual
Accretion of discount on asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$4.64K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.50M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.93M	USD	1 Quarter
Total operating costs	`OperatingExpenses`	$2.67M	USD	1 Quarter
Total operating costs	`OperatingExpenses`	$2.16M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.84M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.96M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$7.70K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$12.76K	USD	1 Quarter
Interest (expense)	`InterestExpense`	$16.51K	USD	1 Quarter
Interest (expense)	`InterestExpense`	$18.46K	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.84M	USD	1 Quarter
Net income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.96M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$706.16K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$482.64K	USD	1 Quarter
Net income attributable to the Company	`NetIncomeLoss`	$1.47M	USD	1 Quarter
Net income attributable to the Company	`NetIncomeLoss`	$1.13M	USD	1 Quarter
Dividends on preferred stock	`PreferredStockDividendsIncomeStatementImpact`	$168.57K	USD	1 Quarter
Dividends on preferred stock	`PreferredStockDividendsIncomeStatementImpact`	$168.57K	USD	1 Quarter
Net income available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$960.43K	USD	1 Quarter
Net income available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.30M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.68M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	28.61M	shares	1 Quarter
Weighted average number of common shares and dilutive potential common shares used in diluted EPS	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.83M	shares	1 Quarter
Weighted average number of common shares and dilutive potential common shares used in diluted EPS	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.21M	shares	1 Quarter

Cash Flow Statement 69 line items

Line Item	Tag	Value	Unit	Period
Net income attributable to the Company	`NetIncomeLoss`	$1.47M	USD	1 Quarter
Net income attributable to the Company	`NetIncomeLoss`	$1.13M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortizationCashFlowsImpact`	$319.88K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortizationCashFlowsImpact`	$381.51K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$243.34K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$373.44K	USD	1 Quarter
Accretion of discount on asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$12.93K	USD	1 Quarter
Accretion of discount on asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$41.63K	USD	Annual
Accretion of discount on asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$4.64K	USD	1 Quarter
Settlements of asset retirement obligations	`AssetRetirementObligationCashPaidToSettle`	$226.01K	USD	1 Quarter
Settlements of asset retirement obligations	`AssetRetirementObligationCashPaidToSettle`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$124.60K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$72.39K	USD	1 Quarter
Deferred rent	`DeferredRentExpenses`	$-4.29K	USD	1 Quarter
Deferred rent	`DeferredRentExpenses`	$-4.29K	USD	1 Quarter
Receivables from oil and natural gas sales	`IncreaseDecreaseInReceivables`	$-188.02K	USD	1 Quarter
Receivables from oil and natural gas sales	`IncreaseDecreaseInReceivables`	$-11.13K	USD	1 Quarter
Receivables from income taxes and other	`IncreaseDecreaseInIncomeTaxesReceivable`	$22.46K	USD	1 Quarter
Receivables from income taxes and other	`IncreaseDecreaseInIncomeTaxesReceivable`	$-918.00	USD	1 Quarter
Due from joint interest partner	`IncreaseDecreaseInDueFromAffiliatesCurrent`	-	USD	1 Quarter
Due from joint interest partner	`IncreaseDecreaseInDueFromAffiliatesCurrent`	$14.61K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-114.75K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-53.95K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.15M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.35M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$404.68K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$44.17K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.56M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$631.41K	USD	1 Quarter
Proceeds from asset sales	`ProceedsFromSaleOfProductiveAssets`	$66.75K	USD	1 Quarter
Proceeds from asset sales	`ProceedsFromSaleOfProductiveAssets`	-	USD	1 Quarter
Capital expenditures for oil and natural gas properties	`PaymentsToAcquireOilAndGasProperty`	$1.14K	USD	1 Quarter
Capital expenditures for oil and natural gas properties	`PaymentsToAcquireOilAndGasProperty`	$594.21K	USD	1 Quarter
Capital expenditures for other property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	-	USD	1 Quarter
Capital expenditures for other property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$156.80K	USD	1 Quarter
Other assets	`PaymentsForProceedsFromOtherInvestingActivities`	$1.91K	USD	1 Quarter
Other assets	`PaymentsForProceedsFromOtherInvestingActivities`	$55.05K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-212.98K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-529.37K	USD	1 Quarter
Cash dividends to preferred stockholders	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$168.57K	USD	1 Quarter
Cash dividends to preferred stockholders	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$168.57K	USD	1 Quarter
Cash dividends to common stockholders	`PaymentsOfDividendsCommonStock`	-	USD	1 Quarter
Cash dividends to common stockholders	`PaymentsOfDividendsCommonStock`	$3.28M	USD	1 Quarter
Acquisitions of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$117.18K	USD	1 Quarter
Acquisitions of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$55.45K	USD	1 Quarter
Tax benefits related to stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$537.28K	USD	1 Quarter
Tax benefits related to stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	1 Quarter
Recovery of short swing profits	`ProceedsFromRecoveryOfShortSwingProfits`	-	USD	1 Quarter
Recovery of short swing profits	`ProceedsFromRecoveryOfShortSwingProfits`	$6.85K	USD	1 Quarter
Deferred loan costs	`PaymentsOfDebtIssuanceCosts`	$24.72K	USD	1 Quarter
Deferred loan costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-2.99M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-278.91K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-2.57M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$748.51K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.37M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$24.93M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.94M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$25.68M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$21.37M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$24.93M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.94M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$25.68M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Change in accounts payable used to acquire property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$-136.44K	USD	1 Quarter
Change in accounts payable used to acquire property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$-31.81K	USD	1 Quarter
Oil and natural gas property costs incurred through recognition of asset retirement obligations	`OilAndNaturalGasPropertiesIncurredThroughRecognitionOfAssetRetirementObligations`	$45.17K	USD	1 Quarter
Oil and natural gas property costs incurred through recognition of asset retirement obligations	`OilAndNaturalGasPropertiesIncurredThroughRecognitionOfAssetRetirementObligations`	-	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance, June 30, 2014	`StockholdersEquity`	$51.88M	USD	Point-in-time
Balance, June 30, 2014	`StockholdersEquity`	$50.28M	USD	Point-in-time
Balance (in shares), June 30, 2014	`SharesOutstanding`	32.80M	shares	Point-in-time
Acquisitions of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$55.45K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$243.34K	USD	1 Quarter
Tax benefits related to stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$537.28K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.47M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.13M	USD	1 Quarter
Common stock cash dividends	`DividendsCommonStock`	$3.28M	USD	1 Quarter
Preferred stock cash dividends	`DividendsPreferredStock`	$168.57K	USD	1 Quarter
Balance (in shares), September 30, 2014	`SharesOutstanding`	32.80M	shares	Point-in-time
Balance, September 30, 2014	`StockholdersEquity`	$51.88M	USD	Point-in-time
Balance, September 30, 2014	`StockholdersEquity`	$50.28M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.