10-Q Filing

EVOLUTION PETROLEUM CORP CIK: 1006655 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001006655-15-000046`
Period End Date	20150930
Filing Date	20151106
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	epm-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 43 Cash Flow Statement 71 Stockholders Equity 15

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.32M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.37M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.12M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.94M	USD	Point-in-time
Receivables	`ReceivablesNetCurrent`	$2.68M	USD	Point-in-time
Receivables	`ReceivablesNetCurrent`	$3.12M	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNetCurrent`	-	USD	Point-in-time
Deferred tax asset	`DeferredTaxAssetsLiabilitiesNetCurrent`	$82.41K	USD	Point-in-time
Derivative assets, net	`DerivativeAssetsCurrent`	$961.99K	USD	Point-in-time
Preferred stock, liquidation preference (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, liquidation preference (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Derivative assets, net	`DerivativeAssetsCurrent`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$321.59K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$369.40K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$20.28M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$23.69M	USD	Point-in-time
Oil and natural gas property and equipment, net (full-cost method of accounting)	`OilAndGasPropertyFullCostMethodNet`	$46.61M	USD	Point-in-time
Oil and natural gas property and equipment, net (full-cost method of accounting)	`OilAndGasPropertyFullCostMethodNet`	$45.19M	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$276.76K	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$252.71K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$46.86M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$45.46M	USD	Point-in-time
Other assets	`DeferredCostsAndOtherAssets`	$726.04K	USD	Point-in-time
Other assets	`DeferredCostsAndOtherAssets`	$574.72K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total assets	`Assets`	$67.71M	USD	Point-in-time
Total assets	`Assets`	$69.88M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	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
Common stock, shares outstanding	`SharesOutstanding`	32.67M	shares	Point-in-time
Common stock, shares outstanding	`SharesOutstanding`	32.62M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.66M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	32.67M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.17M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	32.62M	shares	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$855.37K	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$581.27K	USD	Point-in-time
Derivative liabilities, net	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Derivative liabilities, net	`DerivativeLiabilitiesCurrent`	$109.97K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$244.66K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	-	USD	Point-in-time
State and federal income taxes payable	`TaxesPayableCurrent`	$190.03K	USD	Point-in-time
State and federal income taxes payable	`TaxesPayableCurrent`	$533.74K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.33M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$10.90M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$11.24M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$727.11K	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$715.77K	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	-	USD	Point-in-time
Deferred rent	`DeferredRentCreditNoncurrent`	$18.57K	USD	Point-in-time
Total liabilities	`Liabilities`	$15.65M	USD	Point-in-time
Total liabilities	`Liabilities`	$21.31M	USD	Point-in-time
Commitments and contingencies (Note 16)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 16)	`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 designated, 317,319 shares issued and outstanding at September 30, 2015 and June 30, 2015 with a liquidation preference of $7,932,975 ($25.00 per share)	`PreferredStockValue`	$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 designated, 317,319 shares issued and outstanding at September 30, 2015 and June 30, 2015 with a liquidation preference of $7,932,975 ($25.00 per share)	`PreferredStockValue`	$317.00	USD	Point-in-time
Common stock; par value $0.001; 100,000,000 shares authorized: issued and outstanding 32,670,342 shares and 32,615,646 as of September 30, 2015 and June 30, 2015, respectively	`CommonStockValue`	$32.67K	USD	Point-in-time
Common stock; par value $0.001; 100,000,000 shares authorized: issued and outstanding 32,670,342 shares and 32,615,646 as of September 30, 2015 and June 30, 2015, respectively	`CommonStockValue`	$32.84K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$36.85M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$39.04M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$11.70M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.99M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$48.58M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$52.06M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$69.88M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$67.71M	USD	Point-in-time

Income Statement 43 line items

Line Item	Tag	Value	Unit	Period
Stock-based compensation expense	`ShareBasedCompensation`	$243.34K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$218.12K	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$4.00M	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$7.38M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$1.22M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$369.35K	USD	1 Quarter
Accretion of discount on asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$11.34K	USD	1 Quarter
Accretion of discount on asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$4.64K	USD	1 Quarter
Accretion of discount on asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$34.87K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.68M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.50M	USD	1 Quarter
Total operating costs	`OperatingExpenses`	$2.16M	USD	1 Quarter
Total operating costs	`OperatingExpenses`	$5.53M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.85M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$1.84M	USD	1 Quarter
Gain on settled derivative instruments, net	`GainLossonSettledDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Gain on settled derivative instruments, net	`GainLossonSettledDerivativeInstrumentsNetPretax`	$866.43K	USD	1 Quarter
Gain on unsettled derivative instruments, net	`GainLossonUnsettledDerivativeInstrumentsNetPretax`	$1.07M	USD	1 Quarter
Gain on unsettled derivative instruments, net	`GainLossonUnsettledDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Delhi field insurance recovery related to pre-reversion event	`InsuranceRecoveriesRecoveryRelatedtoPreReversionEvent`	-	USD	1 Quarter
Delhi field insurance recovery related to pre-reversion event	`InsuranceRecoveriesRecoveryRelatedtoPreReversionEvent`	$1.07M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$5.81K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$12.76K	USD	1 Quarter
Interest (expense)	`InterestExpense`	$18.46K	USD	1 Quarter
Interest (expense)	`InterestExpense`	$18.46K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.84M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.85M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$706.16K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$1.75M	USD	1 Quarter
Net income attributable to the Company	`NetIncomeLoss`	$1.13M	USD	1 Quarter
Net income attributable to the Company	`NetIncomeLoss`	$3.09M	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`	$2.92M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.09	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`	32.72M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.77M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.83M	shares	1 Quarter

Cash Flow Statement 71 line items

Line Item	Tag	Value	Unit	Period
Net income attributable to the Company	`NetIncomeLoss`	$1.13M	USD	1 Quarter
Net income attributable to the Company	`NetIncomeLoss`	$3.09M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortizationCashFlowsImpact`	$1.23M	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`	$218.12K	USD	1 Quarter
Accretion of discount on asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$11.34K	USD	1 Quarter
Accretion of discount on asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$4.64K	USD	1 Quarter
Accretion of discount on asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$34.87K	USD	Annual
Settlements of asset retirement obligations	`AssetRetirementObligationCashPaidToSettle`	$226.01K	USD	1 Quarter
Settlements of asset retirement obligations	`AssetRetirementObligationCashPaidToSettle`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-12.57K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$124.60K	USD	1 Quarter
Deferred rent	`DeferredRent`	-	USD	1 Quarter
Deferred rent	`DeferredRent`	$4.29K	USD	1 Quarter
(Gain) on derivative instruments, net	`GainLossOnDerivativeInstrumentsNetPretax`	$1.94M	USD	1 Quarter
(Gain) on derivative instruments, net	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Write-off of deferred loan costs	`WriteOffOfDeferredDebtIssuanceCost`	-	USD	1 Quarter
Write-off of deferred loan costs	`WriteOffOfDeferredDebtIssuanceCost`	$50.41K	USD	1 Quarter
Receivables from oil and natural gas sales	`IncreaseDecreaseInReceivables`	$-809.57K	USD	1 Quarter
Receivables from oil and natural gas sales	`IncreaseDecreaseInReceivables`	$-188.02K	USD	1 Quarter
Receivables other	`IncreaseDecreaseInOtherReceivables`	$22.46K	USD	1 Quarter
Receivables other	`IncreaseDecreaseInOtherReceivables`	$51.96K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-47.81K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-114.75K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.35M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.56M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$44.17K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$343.70K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$2.24M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$631.41K	USD	1 Quarter
Derivative settlements received	`ProceedsFromDerivativeInstrumentInvestingActivities`	$551.77K	USD	1 Quarter
Derivative settlements received	`ProceedsFromDerivativeInstrumentInvestingActivities`	-	USD	1 Quarter
Capital expenditures for oil and natural gas properties	`PaymentsToAcquireOilAndGasProperty`	$6.57M	USD	1 Quarter
Capital expenditures for oil and natural gas properties	`PaymentsToAcquireOilAndGasProperty`	$1.14K	USD	1 Quarter
Capital expenditures for other property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$156.80K	USD	1 Quarter
Capital expenditures for other property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	-	USD	1 Quarter
Other assets	`PaymentsForProceedsFromOtherInvestingActivities`	$55.05K	USD	1 Quarter
Other assets	`PaymentsForProceedsFromOtherInvestingActivities`	$23.80K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-212.98K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-6.04M	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`	$1.63M	USD	1 Quarter
Cash dividends to common stockholders	`PaymentsOfDividendsCommonStock`	$3.28M	USD	1 Quarter
Acquisition of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$1.18M	USD	1 Quarter
Acquisition 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`	$2.98M	USD	1 Quarter
Deferred loan costs	`PaymentsOfDebtIssuanceCosts`	$24.72K	USD	1 Quarter
Deferred loan costs	`PaymentsOfDebtIssuanceCosts`	$1.28K	USD	1 Quarter
Net cash provided by (used) in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-2.99M	USD	1 Quarter
Net cash provided by (used) in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$5.36K	USD	1 Quarter
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-3.80M	USD	1 Quarter
Net decrease in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-2.57M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.32M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.37M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.12M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.94M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.32M	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`	$20.12M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.94M	USD	Point-in-time
Louisiana carryback income tax refund and related interest received	`ProceedsFromIncomeTaxRefunds`	-	USD	1 Quarter
Louisiana carryback income tax refund and related interest received	`ProceedsFromIncomeTaxRefunds`	$1.56M	USD	1 Quarter
Change in accounts payable used to acquire property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$-31.81K	USD	1 Quarter
Change in accounts payable used to acquire property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$-4.07M	USD	1 Quarter
Deferred loan costs reclassified to oil and gas property cost	`DeferredLoanCostsReclassifiedtoOilandGasPropertyCost`	-	USD	1 Quarter
Deferred loan costs reclassified to oil and gas property cost	`DeferredLoanCostsReclassifiedtoOilandGasPropertyCost`	$108.47K	USD	1 Quarter
Change in accrued purchases of treasury stock	`NonCashTransactionAccruedPurchasesofTreasuryStock`	-	USD	1 Quarter
Change in accrued purchases of treasury stock	`NonCashTransactionAccruedPurchasesofTreasuryStock`	$-170.28K	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$48.58M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$52.06M	USD	Point-in-time
Balance (in shares), beginning	`SharesOutstanding`	32.67M	shares	Point-in-time
Balance (in shares), beginning	`SharesOutstanding`	32.62M	shares	Point-in-time
Acquisition of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$1.01M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$218.12K	USD	1 Quarter
Tax benefits related to stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$2.98M	USD	1 Quarter
Net income attributable to the Company	`NetIncomeLoss`	$1.13M	USD	1 Quarter
Net income attributable to the Company	`NetIncomeLoss`	$3.09M	USD	1 Quarter
Common stock cash dividends	`DividendsCommonStock`	$1.63M	USD	1 Quarter
Preferred stock cash dividends	`DividendsPreferredStock`	$168.57K	USD	1 Quarter
Balance (in shares), ending	`SharesOutstanding`	32.67M	shares	Point-in-time
Balance (in shares), ending	`SharesOutstanding`	32.62M	shares	Point-in-time
Ending Balance	`StockholdersEquity`	$48.58M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$52.06M	USD	Point-in-time

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