10-Q Filing

EVOLUTION PETROLEUM CORP CIK: 1006655 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001006655-19-000041`
Period End Date	20190930
Filing Date	20191108
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	epm-20190930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 32 Cash Flow Statement 46 Stockholders Equity 22

Balance Sheet 55 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 (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.40M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	33.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.55M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	33.18M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`SharesOutstanding`	33.18M	shares	Point-in-time
Receivables	`ReceivablesNetCurrent`	$2.97M	USD	Point-in-time
Receivables	`ReceivablesNetCurrent`	$3.17M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`SharesOutstanding`	33.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$458.28K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$363.06K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$34.74M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.18M	USD	Point-in-time
Oil and natural gas properties, net (full-cost method of accounting)	`OilAndGasPropertyFullCostMethodNet`	$59.55M	USD	Point-in-time
Oil and natural gas properties, net (full-cost method of accounting)	`OilAndGasPropertyFullCostMethodNet`	$60.35M	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$26.42K	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$24.10K	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$59.58M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$60.37M	USD	Point-in-time
Other assets	`DeferredCostsAndOtherAssets`	$210.03K	USD	Point-in-time
Other assets	`DeferredCostsAndOtherAssets`	$351.38K	USD	Point-in-time
Total assets	`Assets`	$95.76M	USD	Point-in-time
Total assets	`Assets`	$94.67M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.08M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.01M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$471.01K	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$537.75K	USD	Point-in-time
State and federal income taxes payable	`TaxesPayableCurrent`	$130.80K	USD	Point-in-time
State and federal income taxes payable	`TaxesPayableCurrent`	$592.87K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.75M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$11.29M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$11.32M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$1.56M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$1.59M	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityNoncurrent`	$126.23K	USD	Point-in-time
Total liabilities	`Liabilities`	$15.64M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.08M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock; par value $0.001; 100,000,000 shares authorized; 33,003,134 and 33,183,730 shares issued and outstanding, respectively	`CommonStockValue`	$33.00K	USD	Point-in-time
Common stock; par value $0.001; 100,000,000 shares authorized; 33,003,134 and 33,183,730 shares issued and outstanding, respectively	`CommonStockValue`	$33.18K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$41.46M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$42.49M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$37.60M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$37.09M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$78.58M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$77.29M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$80.13M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$79.89M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$94.67M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$95.76M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Stock-based compensation expense	`ShareBasedCompensation`	$332.01K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$215.37K	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$12.31M	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$9.15M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$1.45M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$1.55M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.34M	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`	$5.88M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$5.99M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$3.27M	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`	$46.57K	USD	1 Quarter
Interest and other income	`InvestmentIncomeInterestandOther`	$66.13K	USD	1 Quarter
Interest expense	`InterestExpense`	$29.34K	USD	1 Quarter
Interest expense	`InterestExpense`	$29.34K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.31M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$7.11M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$517.98K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$1.32M	USD	1 Quarter
Net income available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.79M	USD	1 Quarter
Net income available to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$5.80M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.18	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.17	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.13M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.10M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.12M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.13M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.79M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.80M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortizationCashFlowsImpact`	$1.45M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortizationCashFlowsImpact`	$1.55M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$332.01K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$215.37K	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$275.38K	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-29.08K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$18.53K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$4.82K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-199.06K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$392.98K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$415.73K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-95.22K	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-428.15K	USD	1 Quarter
Accrued liabilities and other	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-276.86K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$462.07K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$1.05M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.04M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.66M	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`	$522.41K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.09M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-522.41K	USD	1 Quarter
Cash dividends to common stockholders	`PaymentsOfDividendsCommonStock`	$3.32M	USD	1 Quarter
Cash dividends to common stockholders	`PaymentsOfDividendsCommonStock`	$3.31M	USD	1 Quarter
Common share repurchases, including shares surrendered for tax withholding	`PaymentsForRepurchaseOfCommonStock`	$1.36M	USD	1 Quarter
Common share repurchases, including shares surrendered for tax withholding	`PaymentsForRepurchaseOfCommonStock`	$89.99K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.67M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.41M	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.16M	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-147.73K	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.40M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.55M	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`	$28.84M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.40M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.55M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.68M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$28.84M	USD	Point-in-time
Income taxes paid	`IncomeTaxesPaid`	$85.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$462.39K	USD	1 Quarter
Change in accounts payable used to acquire oil and natural gas properties	`IncreaseDecreaseinAccountsPayableUsedtoAcquirePropertyandEquipment`	$-405.64K	USD	1 Quarter
Change in accounts payable used to acquire oil and natural gas properties	`IncreaseDecreaseinAccountsPayableUsedtoAcquirePropertyandEquipment`	$102.98K	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 22 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
Beginning Balance (in shares)	`SharesOutstanding`	33.18M	shares	Point-in-time
Beginning Balance (in shares)	`SharesOutstanding`	33.00M	shares	Point-in-time
Beginning Balance	`StockholdersEquity`	$78.58M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$77.29M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$80.13M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$79.89M	USD	Point-in-time
Common share repurchases, including shares surrendered for tax withholding	`StockRepurchasedDuringPeriodValue`	$89.99K	USD	1 Quarter
Common share repurchases, including shares surrendered for tax withholding	`StockRepurchasedDuringPeriodValue`	$1.36M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$332.01K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$215.37K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.79M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.80M	USD	1 Quarter
Common stock cash dividends	`DividendsCommonStock`	$3.31M	USD	1 Quarter
Common stock cash dividends	`DividendsCommonStock`	$3.32M	USD	1 Quarter
Ending Balance (in shares)	`SharesOutstanding`	33.18M	shares	Point-in-time
Ending Balance (in shares)	`SharesOutstanding`	33.00M	shares	Point-in-time
Ending Balance	`StockholdersEquity`	$78.58M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$77.29M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$80.13M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$79.89M	USD	Point-in-time

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