10-Q Filing

EVOLUTION PETROLEUM CORP CIK: 1006655 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001006655-17-000046`
Period End Date	20170930
Filing Date	20171108
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	epm-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 45 Cash Flow Statement 59 Stockholders Equity 14

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.13M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesIssued`	33.07M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.03M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$34.08M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesIssued`	33.09M	shares	Point-in-time
Receivables	`ReceivablesNetCurrent`	$2.73M	USD	Point-in-time
Common stock, shares issued	`SharesOutstanding`	33.09M	shares	Point-in-time
Common stock, shares issued	`SharesOutstanding`	33.07M	shares	Point-in-time
Receivables	`ReceivablesNetCurrent`	$3.03M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$291.38K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$387.67K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.45M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$26.14M	USD	Point-in-time
Oil and natural gas property and equipment, net (full-cost method of accounting)	`OilAndGasPropertyFullCostMethodNet`	$60.90M	USD	Point-in-time
Oil and natural gas property and equipment, net (full-cost method of accounting)	`OilAndGasPropertyFullCostMethodNet`	$61.79M	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$36.42K	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$40.69K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$60.94M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$61.83M	USD	Point-in-time
Other assets	`DeferredCostsAndOtherAssets`	$277.93K	USD	Point-in-time
Other assets	`DeferredCostsAndOtherAssets`	$295.38K	USD	Point-in-time
Total assets	`Assets`	$88.66M	USD	Point-in-time
Total assets	`Assets`	$88.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.99M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.03M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$726.48K	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$634.64K	USD	Point-in-time
State and federal income taxes payable	`TaxesPayableCurrent`	-	USD	Point-in-time
State and federal income taxes payable	`TaxesPayableCurrent`	$370.75K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.04M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$15.83M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$15.85M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$1.25M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$1.28M	USD	Point-in-time
Total liabilities	`Liabilities`	$20.16M	USD	Point-in-time
Total liabilities	`Liabilities`	$19.80M	USD	Point-in-time
Commitments and contingencies (Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 15)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock; par value $0.001; 100,000,000 shares authorized: issued and outstanding 33,066,717 shares and 33,087,308 as of September 30, 2017 and June 30, 2017, respectively	`CommonStockValue`	$33.09K	USD	Point-in-time
Common stock; par value $0.001; 100,000,000 shares authorized: issued and outstanding 33,066,717 shares and 33,087,308 as of September 30, 2017 and June 30, 2017, respectively	`CommonStockValue`	$33.07K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$41.34M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$40.96M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$27.47M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$27.13M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$68.51M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$68.47M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$88.66M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$88.27M	USD	Point-in-time

Income Statement 45 line items

Line Item	Tag	Value	Unit	Period
Stock-based compensation expense	`ShareBasedCompensation`	$487.48K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$311.69K	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$8.54M	USD	1 Quarter
Total revenues	`SalesRevenueNet`	$7.59M	USD	1 Quarter
Production costs	`ExplorationAndProductionCosts`	$2.89M	USD	1 Quarter
Production costs	`ExplorationAndProductionCosts`	$2.34M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$1.27M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$1.52M	USD	1 Quarter
Accretion of discount on asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$13.22K	USD	1 Quarter
Accretion of discount on asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$59.66K	USD	Annual
Accretion of discount on asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$21.58K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.24M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.57M	USD	1 Quarter
Total operating costs	`OperatingExpenses`	$4.87M	USD	1 Quarter
Total operating costs	`OperatingExpenses`	$6.00M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.54M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.73M	USD	1 Quarter
Gain on realized derivative instruments, net	`GainLossonSettledDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Gain on realized derivative instruments, net	`GainLossonSettledDerivativeInstrumentsNetPretax`	$90.00	USD	1 Quarter
Loss on unrealized derivative instruments, net	`GainLossonUnsettledDerivativeInstrumentsNetPretax`	$-14.13K	USD	1 Quarter
Loss on unrealized derivative instruments, net	`GainLossonUnsettledDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Interest and other income	`InvestmentIncomeInterestandOther`	$14.85K	USD	1 Quarter
Interest and other income	`InvestmentIncomeInterestandOther`	$12.74K	USD	1 Quarter
Interest expense	`InterestExpense`	$20.45K	USD	1 Quarter
Interest expense	`InterestExpense`	$20.34K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.71M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.53M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$889.18K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$390.32K	USD	1 Quarter
Net income attributable to the Company	`NetIncomeLoss`	$2.14M	USD	1 Quarter
Net income attributable to the Company	`NetIncomeLoss`	$1.82M	USD	1 Quarter
Dividends on preferred stock	`PreferredStockDividendsIncomeStatementImpact`	$250.99K	USD	1 Quarter
Dividends on preferred stock	`PreferredStockDividendsIncomeStatementImpact`	-	USD	1 Quarter
Deemed dividend on preferred shares called for redemption	`RedeemablePreferredStockDividends`	-	USD	1 Quarter
Deemed dividend on preferred shares called for redemption	`RedeemablePreferredStockDividends`	$1.00M	USD	1 Quarter
Net income available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.14M	USD	1 Quarter
Net income available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$563.35K	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.96M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.09M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.15M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.01M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income attributable to the Company	`NetIncomeLoss`	$2.14M	USD	1 Quarter
Net income attributable to the Company	`NetIncomeLoss`	$1.82M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortizationCashFlowsImpact`	$1.53M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortizationCashFlowsImpact`	$1.29M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$487.48K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$311.69K	USD	1 Quarter
Accretion of discount on asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$13.22K	USD	1 Quarter
Accretion of discount on asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$59.66K	USD	Annual
Accretion of discount on asset retirement obligations	`AssetRetirementObligationAccretionExpense`	$21.58K	USD	1 Quarter
Settlements of asset retirement obligations	`AssetRetirementObligationCashPaidToSettle`	$15.90K	USD	1 Quarter
Settlements of asset retirement obligations	`AssetRetirementObligationCashPaidToSettle`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$19.51K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$708.67K	USD	1 Quarter
Loss on derivative instruments, net	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Loss on derivative instruments, net	`GainLossOnDerivativeInstrumentsNetPretax`	$-14.04K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-119.81K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$300.58K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$21.36K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-96.30K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-166.90K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.24M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$-524.77K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$370.75K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$4.20M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.47M	USD	1 Quarter
Derivative settlement payments (paid) received	`PaymentsForProceedsFromDerivativeInstrumentInvestingActivities`	-	USD	1 Quarter
Derivative settlement payments (paid) received	`PaymentsForProceedsFromDerivativeInstrumentInvestingActivities`	$318.71K	USD	1 Quarter
Capital expenditures for oil and natural gas properties	`PaymentsToAcquireOilAndGasProperty`	$4.82M	USD	1 Quarter
Capital expenditures for oil and natural gas properties	`PaymentsToAcquireOilAndGasProperty`	$508.04K	USD	1 Quarter
Capital expenditures for other property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	-	USD	1 Quarter
Capital expenditures for other property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$26.35K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-5.16M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-508.04K	USD	1 Quarter
Cash dividends to preferred stockholders	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	$168.57K	USD	1 Quarter
Cash dividends to preferred stockholders	`PaymentsOfDividendsPreferredStockAndPreferenceStock`	-	USD	1 Quarter
Cash dividends to common stockholders	`PaymentsOfDividendsCommonStock`	$1.65M	USD	1 Quarter
Cash dividends to common stockholders	`PaymentsOfDividendsCommonStock`	$2.48M	USD	1 Quarter
Common share repurchases, including shares surrendered for tax withholding	`PaymentsForRepurchaseOfCommonStock`	$330.07K	USD	1 Quarter
Common share repurchases, including shares surrendered for tax withholding	`PaymentsForRepurchaseOfCommonStock`	$110.75K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-2.59M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-2.15M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-5.84M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$1.10M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$24.13M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.03M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$28.24M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$34.08M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$24.13M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.03M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$28.24M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$34.08M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	$787.37K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Change in accounts payable used to acquire property and equipment	`IncreaseDecreaseinAccountsPayableUsedtoAcquirePropertyandEquipment`	$-2.03M	USD	1 Quarter
Change in accounts payable used to acquire property and equipment	`IncreaseDecreaseinAccountsPayableUsedtoAcquirePropertyandEquipment`	$114.73K	USD	1 Quarter
Accrued redemption of called preferred shares	`AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemablePreferredStock`	$7.93M	USD	1 Quarter
Accrued redemption of called preferred shares	`AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemablePreferredStock`	-	USD	1 Quarter
Accrued preferred dividends through redemption date	`AccruedRedeemablePreferredStockDividends`	-	USD	1 Quarter
Accrued preferred dividends through redemption date	`AccruedRedeemablePreferredStockDividends`	$82.42K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$68.51M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$68.47M	USD	Point-in-time
Beginning Balance (shares)	`SharesOutstanding`	33.09M	shares	Point-in-time
Beginning Balance (shares)	`SharesOutstanding`	33.07M	shares	Point-in-time
Issuance of restricted common stock	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	1 Quarter
Common share repurchases, including shares surrendered for tax withholding	`StockRepurchasedDuringPeriodValue`	$110.75K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$487.48K	USD	1 Quarter
Net income attributable to the Company	`NetIncomeLoss`	$2.14M	USD	1 Quarter
Net income attributable to the Company	`NetIncomeLoss`	$1.82M	USD	1 Quarter
Common stock cash dividends	`DividendsCommonStock`	$2.48M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$68.51M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$68.47M	USD	Point-in-time
Ending Balance (shares)	`SharesOutstanding`	33.09M	shares	Point-in-time
Ending Balance (shares)	`SharesOutstanding`	33.07M	shares	Point-in-time

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