10-Q Filing

EVOLUTION PETROLEUM CORP CIK: 1006655 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001006655-18-000055`
Period End Date	20180930
Filing Date	20181109
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	epm-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 32 Cash Flow Statement 44 Stockholders Equity 17

Balance Sheet 56 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`	$24.93M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.08M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.16M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.84M	USD	Point-in-time
Common stock, shares outstanding	`SharesOutstanding`	33.16M	shares	Point-in-time
Restricted cash	`RestrictedCashCurrent`	-	USD	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$2.75M	USD	Point-in-time
Common stock, shares outstanding	`SharesOutstanding`	33.08M	shares	Point-in-time
Receivables	`ReceivablesNetCurrent`	$3.94M	USD	Point-in-time
Receivables	`ReceivablesNetCurrent`	$4.33M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$940.24K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$524.51K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$34.12M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$32.15M	USD	Point-in-time
Oil and natural gas property and equipment, net (full-cost method of accounting)	`OilAndGasPropertyFullCostMethodNet`	$61.24M	USD	Point-in-time
Oil and natural gas property and equipment, net (full-cost method of accounting)	`OilAndGasPropertyFullCostMethodNet`	$62.44M	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$30.41K	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$26.26K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$62.46M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$61.27M	USD	Point-in-time
Other assets	`DeferredCostsAndOtherAssets`	$236.62K	USD	Point-in-time
Other assets	`DeferredCostsAndOtherAssets`	$244.84K	USD	Point-in-time
Total assets	`Assets`	$93.66M	USD	Point-in-time
Total assets	`Assets`	$96.82M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.43M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.06M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$874.89K	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$418.65K	USD	Point-in-time
State and federal income taxes payable	`TaxesPayableCurrent`	$1.18M	USD	Point-in-time
State and federal income taxes payable	`TaxesPayableCurrent`	$122.76K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.65M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.43M	USD	Point-in-time
Senior secured credit facility (Note 14)	`LongTermLineOfCredit`	-	USD	Point-in-time
Senior secured credit facility (Note 14)	`LongTermLineOfCredit`	-	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$10.56M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$10.83M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$1.39M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$1.44M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.37M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.92M	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; 33,157,852 and 33,080,543 shares issued and outstanding as of September 30, 2018 and June 30, 2018, respectively	`CommonStockValue`	$33.16K	USD	Point-in-time
Common stock; par value $0.001; 100,000,000 shares authorized; 33,157,852 and 33,080,543 shares issued and outstanding as of September 30, 2018 and June 30, 2018, respectively	`CommonStockValue`	$33.08K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$41.76M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$41.88M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$35.50M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$37.98M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$77.29M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$79.89M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$96.82M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$93.66M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Stock-based compensation expense	`ShareBasedCompensation`	$487.48K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$215.37K	USD	1 Quarter
Total revenues	`Revenues`	$12.31M	USD	1 Quarter
Total revenues	`Revenues`	$8.40M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$1.54M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$1.55M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.57M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.31M	USD	1 Quarter
Total operating costs	`OperatingExpenses`	$6.31M	USD	1 Quarter
Total operating costs	`OperatingExpenses`	$5.87M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.54M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$5.99M	USD	1 Quarter
Enduro transaction breakup fee	`AssetAcquisitionContingentConsiderationProceedsFromBreakUpFee`	-	USD	1 Quarter
Enduro transaction breakup fee	`AssetAcquisitionContingentConsiderationProceedsFromBreakUpFee`	$1.10M	USD	1 Quarter
Interest and other income	`InvestmentIncomeInterestandOther`	$14.85K	USD	1 Quarter
Interest and other income	`InvestmentIncomeInterestandOther`	$46.57K	USD	1 Quarter
Interest expense	`InterestExpense`	$29.34K	USD	1 Quarter
Interest expense	`InterestExpense`	$20.45K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.11M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.53M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$1.32M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$390.32K	USD	1 Quarter
Net income available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.14M	USD	1 Quarter
Net income available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$5.80M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.18	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.06	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.06	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.10M	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`	33.12M	shares	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income attributable to the Company	`NetIncomeLoss`	$5.80M	USD	1 Quarter
Net income attributable to the Company	`NetIncomeLoss`	$2.14M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortizationCashFlowsImpact`	$1.55M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortizationCashFlowsImpact`	$1.55M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$487.48K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$215.37K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$275.38K	USD	1 Quarter
Deferred income tax expense	`DeferredIncomeTaxExpenseBenefit`	$19.51K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$300.58K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$392.98K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-96.30K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$415.73K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-427.11K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-166.90K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$370.75K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$1.05M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$7.66M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$4.20M	USD	1 Quarter
Capital expenditures for oil and natural gas properties	`PaymentsToAcquireOilAndGasProperty`	$3.09M	USD	1 Quarter
Capital expenditures for oil and natural gas properties	`PaymentsToAcquireOilAndGasProperty`	$508.04K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-3.09M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-508.04K	USD	1 Quarter
Cash dividends to common stockholders	`PaymentsOfDividendsCommonStock`	$3.32M	USD	1 Quarter
Cash dividends to common stockholders	`PaymentsOfDividendsCommonStock`	$2.48M	USD	1 Quarter
Common share repurchases, including shares surrendered for tax withholding	`PaymentsForRepurchaseOfCommonStock`	$110.75K	USD	1 Quarter
Common share repurchases, including shares surrendered for tax withholding	`PaymentsForRepurchaseOfCommonStock`	$89.99K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-3.41M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-2.59M	USD	1 Quarter
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.10M	USD	1 Quarter
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.16M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.03M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.84M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.68M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.13M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.03M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.84M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.68M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$24.13M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	$462.39K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Change in accounts payable used to acquire property and equipment	`IncreaseDecreaseinAccountsPayableUsedtoAcquirePropertyandEquipment`	$114.73K	USD	1 Quarter
Change in accounts payable used to acquire property and equipment	`IncreaseDecreaseinAccountsPayableUsedtoAcquirePropertyandEquipment`	$-405.64K	USD	1 Quarter
Oil and natural gas property costs incurred through recognition of asset retirement obligations	`OilAndNaturalGasPropertiesIncurredThroughRecognitionOfAssetRetirementObligations`	-	USD	1 Quarter
Oil and natural gas property costs incurred through recognition of asset retirement obligations	`OilAndNaturalGasPropertiesIncurredThroughRecognitionOfAssetRetirementObligations`	$31.27K	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Cash dividend (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.10	USD	1 Quarter
Cash dividend (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.10	USD	1 Quarter
Cash dividend (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.07	USD	1 Quarter
Beginning Balance	`StockholdersEquity`	$77.29M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$79.89M	USD	Point-in-time
Beginning Balance (shares)	`SharesOutstanding`	33.16M	shares	Point-in-time
Beginning Balance (shares)	`SharesOutstanding`	33.08M	shares	Point-in-time
Issuance of restricted common stock	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	1 Quarter
Common share repurchases, including shares surrendered for tax withholding	`StockRepurchasedDuringPeriodValue`	$89.99K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$215.37K	USD	1 Quarter
Net income attributable to the Company	`NetIncomeLoss`	$5.80M	USD	1 Quarter
Net income attributable to the Company	`NetIncomeLoss`	$2.14M	USD	1 Quarter
Common stock cash dividends, $0.10 per share	`DividendsCommonStock`	$3.32M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$77.29M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$79.89M	USD	Point-in-time
Ending Balance (shares)	`SharesOutstanding`	33.16M	shares	Point-in-time
Ending Balance (shares)	`SharesOutstanding`	33.08M	shares	Point-in-time

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