10-Q Filing

EVOLUTION PETROLEUM CORP CIK: 1006655 Q2 2019

Filing Information

Form Type	10-Q
Accession Number	`0001006655-19-000008`
Period End Date	20181231
Filing Date	20190208
Fiscal Year	2019
Fiscal Period	Q2
XBRL Instance	epm-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 62 Cash Flow Statement 46 Stockholders Equity 19

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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.00M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.08M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.19M	shares	Point-in-time
Restricted cash	`RestrictedCashCurrent`	-	USD	Point-in-time
Common stock, shares outstanding	`SharesOutstanding`	33.08M	shares	Point-in-time
Restricted cash	`RestrictedCashCurrent`	$2.75M	USD	Point-in-time
Common stock, shares outstanding	`SharesOutstanding`	33.19M	shares	Point-in-time
Receivables	`ReceivablesNetCurrent`	$3.94M	USD	Point-in-time
Receivables	`ReceivablesNetCurrent`	$3.43M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$524.51K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$594.55K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$32.15M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$34.03M	USD	Point-in-time
Oil and natural gas property and equipment, net (full-cost method of accounting)	`OilAndGasPropertyFullCostMethodNet`	$62.14M	USD	Point-in-time
Oil and natural gas property and equipment, net (full-cost method of accounting)	`OilAndGasPropertyFullCostMethodNet`	$61.24M	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$30.41K	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$24.19K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$61.27M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$62.16M	USD	Point-in-time
Other assets	`DeferredCostsAndOtherAssets`	$228.41K	USD	Point-in-time
Other assets	`DeferredCostsAndOtherAssets`	$244.84K	USD	Point-in-time
Total assets	`Assets`	$96.42M	USD	Point-in-time
Total assets	`Assets`	$93.66M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.43M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$363.21K	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$874.89K	USD	Point-in-time
State and federal income taxes payable	`TaxesPayableCurrent`	$122.76K	USD	Point-in-time
State and federal income taxes payable	`TaxesPayableCurrent`	$136.12K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.43M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.20M	USD	Point-in-time
Senior secured credit facility (Note 13)	`LongTermLineOfCredit`	-	USD	Point-in-time
Senior secured credit facility (Note 13)	`LongTermLineOfCredit`	-	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$11.06M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$10.56M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$1.39M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$1.47M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.37M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.73M	USD	Point-in-time
Commitments and contingencies (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock; par value $0.001; 100,000,000 shares authorized; 33,186,665 and 33,080,543 shares issued and outstanding as of December 31, 2018 and June 30, 2018, respectively	`CommonStockValue`	$33.19K	USD	Point-in-time
Common stock; par value $0.001; 100,000,000 shares authorized; 33,186,665 and 33,080,543 shares issued and outstanding as of December 31, 2018 and June 30, 2018, respectively	`CommonStockValue`	$33.08K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$42.09M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$41.76M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$38.56M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$35.50M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$80.69M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$77.29M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$96.42M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$93.66M	USD	Point-in-time

Income Statement 62 line items

Line Item	Tag	Value	Unit	Period
Stock-based compensation expense	`ShareBasedCompensation`	$971.81K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$469.48K	USD	2 Qtrs
Total revenues	`Revenues`	$23.36M	USD	2 Qtrs
Total revenues	`Revenues`	$10.93M	USD	1 Quarter
Total revenues	`Revenues`	$19.33M	USD	2 Qtrs
Total revenues	`Revenues`	$11.05M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$3.15M	USD	2 Qtrs
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$1.60M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$3.20M	USD	2 Qtrs
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$1.66M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.26M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$2.56M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$3.24M	USD	2 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.67M	USD	1 Quarter
Total operating costs	`OperatingExpenses`	$12.63M	USD	2 Qtrs
Total operating costs	`OperatingExpenses`	$6.10M	USD	1 Quarter
Total operating costs	`OperatingExpenses`	$11.96M	USD	2 Qtrs
Total operating costs	`OperatingExpenses`	$6.31M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.73M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$7.37M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$4.83M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$10.73M	USD	2 Qtrs
Enduro transaction breakup fee	`AssetAcquisitionContingentConsiderationProceedsFromBreakUpFee`	-	USD	2 Qtrs
Enduro transaction breakup fee	`AssetAcquisitionContingentConsiderationProceedsFromBreakUpFee`	-	USD	1 Quarter
Enduro transaction breakup fee	`AssetAcquisitionContingentConsiderationProceedsFromBreakUpFee`	-	USD	1 Quarter
Enduro transaction breakup fee	`AssetAcquisitionContingentConsiderationProceedsFromBreakUpFee`	$1.10M	USD	2 Qtrs
Interest and other income	`InvestmentIncomeInterestandOther`	$59.86K	USD	1 Quarter
Interest and other income	`InvestmentIncomeInterestandOther`	$30.69K	USD	2 Qtrs
Interest and other income	`InvestmentIncomeInterestandOther`	$106.43K	USD	2 Qtrs
Interest and other income	`InvestmentIncomeInterestandOther`	$15.84K	USD	1 Quarter
Interest expense	`InterestExpense`	$29.34K	USD	1 Quarter
Interest expense	`InterestExpense`	$40.91K	USD	2 Qtrs
Interest expense	`InterestExpense`	$58.69K	USD	2 Qtrs
Interest expense	`InterestExpense`	$20.46K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.36M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.82M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.88M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.76M	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$-4.66M	USD	2 Qtrs
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$-5.05M	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$859.70K	USD	1 Quarter
Income tax provision (benefit)	`IncomeTaxExpenseBenefit`	$2.18M	USD	2 Qtrs
Net income available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$12.02M	USD	2 Qtrs
Net income available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$9.70M	USD	2 Qtrs
Net income available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.90M	USD	1 Quarter
Net income available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$9.88M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.30	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.29	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.36	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.12	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.12	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.36	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.29	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.30	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.10M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.13M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.17M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.11M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.15M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.14M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.18M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.14M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net income attributable to the Company	`NetIncomeLoss`	$9.70M	USD	2 Qtrs
Net income attributable to the Company	`NetIncomeLoss`	$12.02M	USD	2 Qtrs
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortizationCashFlowsImpact`	$3.23M	USD	2 Qtrs
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortizationCashFlowsImpact`	$3.16M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$971.81K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$469.48K	USD	2 Qtrs
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-5.25M	USD	2 Qtrs
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$506.30K	USD	2 Qtrs
Receivables	`IncreaseDecreaseInReceivables`	$-507.69K	USD	2 Qtrs
Receivables	`IncreaseDecreaseInReceivables`	$1.35M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$70.05K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$436.38K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-83.01K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-142.57K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	-	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$13.36K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.10M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.14M	USD	2 Qtrs
Capital expenditures for oil and natural gas properties	`PaymentsToAcquireOilAndGasProperty`	$1.02M	USD	2 Qtrs
Capital expenditures for oil and natural gas properties	`PaymentsToAcquireOilAndGasProperty`	$5.05M	USD	2 Qtrs
Capital expenditures for other property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	-	USD	2 Qtrs
Capital expenditures for other property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$2.07K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.02M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.05M	USD	2 Qtrs
Cash dividends to common stockholders	`PaymentsOfDividendsCommonStock`	$4.97M	USD	2 Qtrs
Cash dividends to common stockholders	`PaymentsOfDividendsCommonStock`	$6.63M	USD	2 Qtrs
Common share repurchases, including shares surrendered for tax withholding	`PaymentsForRepurchaseOfCommonStock`	$138.64K	USD	2 Qtrs
Common share repurchases, including shares surrendered for tax withholding	`PaymentsForRepurchaseOfCommonStock`	$395.55K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.36M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.77M	USD	2 Qtrs
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.32M	USD	2 Qtrs
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.72M	USD	2 Qtrs
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$30.00M	USD	Point-in-time
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`	$27.68M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.74M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$30.00M	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`	$27.68M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.74M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	$1.14M	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$1.86M	USD	2 Qtrs
Change in accounts payable used to acquire property and equipment	`IncreaseDecreaseinAccountsPayableUsedtoAcquirePropertyandEquipment`	$424.37K	USD	2 Qtrs
Change in accounts payable used to acquire property and equipment	`IncreaseDecreaseinAccountsPayableUsedtoAcquirePropertyandEquipment`	$-1.09M	USD	2 Qtrs
Oil and natural gas property costs incurred through recognition of asset retirement obligations	`OilAndNaturalGasPropertiesIncurredThroughRecognitionOfAssetRetirementObligations`	$-779.00	USD	2 Qtrs
Oil and natural gas property costs incurred through recognition of asset retirement obligations	`OilAndNaturalGasPropertiesIncurredThroughRecognitionOfAssetRetirementObligations`	$31.27K	USD	2 Qtrs

Stockholders Equity 19 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`	$0.07	USD	1 Quarter
Cash dividend (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.07	USD	1 Quarter
Cash dividend (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.10	USD	1 Quarter
Cash dividend (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.10	USD	2 Qtrs
Beginning Balance	`StockholdersEquity`	$80.69M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$77.29M	USD	Point-in-time
Beginning Balance (shares)	`SharesOutstanding`	33.08M	shares	Point-in-time
Beginning Balance (shares)	`SharesOutstanding`	33.19M	shares	Point-in-time
Issuance of restricted common stock	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	2 Qtrs
Common share repurchases, including shares surrendered for tax withholding	`StockRepurchasedDuringPeriodValue`	$138.64K	USD	2 Qtrs
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$469.48K	USD	2 Qtrs
Net income attributable to the Company	`NetIncomeLoss`	$9.70M	USD	2 Qtrs
Net income attributable to the Company	`NetIncomeLoss`	$12.02M	USD	2 Qtrs
Common stock cash dividends, $0.10 per share	`DividendsCommonStock`	$6.63M	USD	2 Qtrs
Ending Balance	`StockholdersEquity`	$80.69M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$77.29M	USD	Point-in-time
Ending Balance (shares)	`SharesOutstanding`	33.08M	shares	Point-in-time
Ending Balance (shares)	`SharesOutstanding`	33.19M	shares	Point-in-time

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