10-K Filing

EVOLUTION PETROLEUM CORP CIK: 1006655 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001006655-21-000037`
Period End Date	20210630
Filing Date	20210914
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	epm-20210630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 72 Cash Flow Statement 59 Stockholders Equity 14

Balance Sheet 61 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
Common stock, issued shares (in shares)	`CommonStockSharesIssued`	32.96M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.28M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.66M	USD	Point-in-time
Common stock, issued shares (in shares)	`CommonStockSharesIssued`	33.51M	shares	Point-in-time
Common stock, outstanding shares (in shares)	`CommonStockSharesOutstanding`	33.51M	shares	Point-in-time
Receivables from oil and gas sales	`AccountsReceivableNetCurrent`	$8.69M	USD	Point-in-time
Common stock, outstanding shares (in shares)	`CommonStockSharesOutstanding`	32.96M	shares	Point-in-time
Receivables from oil and gas sales	`AccountsReceivableNetCurrent`	$1.92M	USD	Point-in-time
Receivables for federal and state income tax refunds	`IncomeTaxReceivable`	$3.11M	USD	Point-in-time
Receivables for federal and state income tax refunds	`IncomeTaxReceivable`	$3.24M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$491.69K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.04M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.11M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.32M	USD	Point-in-time
Oil and natural gas propertiesfull-cost method of accounting, of which none were excluded from amortization	`OilAndGasPropertyFullCostMethodNet`	$58.52M	USD	Point-in-time
Oil and natural gas propertiesfull-cost method of accounting, of which none were excluded from amortization	`OilAndGasPropertyFullCostMethodNet`	$66.51M	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$17.64K	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$10.64K	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$58.53M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$66.53M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$291.62K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$70.79K	USD	Point-in-time
Total assets	`Assets`	$92.14M	USD	Point-in-time
Total assets	`Assets`	$76.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.47M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.61M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$716.65K	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$947.04K	USD	Point-in-time
Derivative contract liabilities	`DerivativeLiabilitiesCurrent`	$1.91M	USD	Point-in-time
Derivative contract liabilities	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
State and federal taxes payable	`TaxesPayableCurrent`	$37.75K	USD	Point-in-time
State and federal taxes payable	`TaxesPayableCurrent`	$179.19K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.59M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.28M	USD	Point-in-time
Senior secured credit facility	`LongTermLineOfCredit`	$4.00M	USD	Point-in-time
Senior secured credit facility	`LongTermLineOfCredit`	-	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$11.06M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$5.96M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$2.59M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$5.54M	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityNoncurrent`	$20.75K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityNoncurrent`	$84.98K	USD	Point-in-time
Total liabilities	`Liabilities`	$18.01M	USD	Point-in-time
Total liabilities	`Liabilities`	$22.11M	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: issued and outstanding 33,514,952 and 32,956,469 shares as of June 30, 2021 and 2020, respectively	`CommonStockValue`	$33.52K	USD	Point-in-time
Common stock; par value $0.001; 100,000,000 shares authorized: issued and outstanding 33,514,952 and 32,956,469 shares as of June 30, 2021 and 2020, respectively	`CommonStockValue`	$32.96K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$42.54M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$41.29M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.02M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$32.80M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$54.59M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$74.12M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$80.13M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$76.71M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$92.14M	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
Non-cash stock-based compensation expense	`ShareBasedCompensation`	$1.29M	USD	Annual
Non-cash stock-based compensation expense	`ShareBasedCompensation`	$1.26M	USD	Annual
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$29.60M	USD	Annual
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$32.70M	USD	Annual
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$5.17M	USD	Annual
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$5.76M	USD	Annual
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	$15.20M	USD	Point-in-time
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	$9.60M	USD	Point-in-time
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	$15.20M	USD	1 Quarter
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	-	USD	Annual
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	$24.79M	USD	Annual
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	$9.60M	USD	1 Quarter
Impairment of Well Lift Inc. - related assets	`OtherAssetImpairmentCharges`	$146.05K	USD	Annual
Impairment of Well Lift Inc. - related assets	`OtherAssetImpairmentCharges`	-	USD	Annual
Net loss on derivative contracts	`GainLossOnDerivativeInstrumentsNetPretax`	$-614.64K	USD	Annual
Net loss on derivative contracts	`GainLossOnDerivativeInstrumentsNetPretax`	$-1.38M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.75M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$5.26M	USD	Annual
Total operating costs	`OperatingExpenses`	$54.06M	USD	Annual
Total operating costs	`OperatingExpenses`	$25.91M	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$3.27M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$3.00M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-2.79M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-9.43M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$3.69M	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$-15.91M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$951.81K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$980.61K	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-21.36M	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$2.25M	USD	1 Quarter
Interest and other income	`InvestmentIncomeInterestandOther`	$39.40K	USD	Annual
Interest and other income	`InvestmentIncomeInterestandOther`	$177.42K	USD	Annual
Interest expense	`InterestExpense`	$110.78K	USD	Annual
Interest expense	`InterestExpense`	$102.97K	USD	Annual
Income (loss) before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-21.42M	USD	Annual
Income (loss) before income tax provision	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.76M	USD	Annual
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-4.98M	USD	Annual
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-2.18M	USD	Annual
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$5.94M	USD	Annual
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-16.44M	USD	Annual
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.19M	USD	1 Quarter
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-7.14M	USD	1 Quarter
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$1.76M	USD	1 Quarter
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-12.71M	USD	1 Quarter
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.71M	USD	1 Quarter
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.22M	USD	1 Quarter
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.33M	USD	1 Quarter
Net income (loss) attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.79M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.22	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.49	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.07	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.38	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.18	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.07	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.49	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.38	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.18	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.22	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.03M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.26M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.26M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.03M	shares	Annual

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income (loss) attributable to common shareholders	`NetIncomeLoss`	$5.94M	USD	Annual
Net income (loss) attributable to common shareholders	`NetIncomeLoss`	$-16.44M	USD	Annual
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortizationCashFlowsImpact`	$5.17M	USD	Annual
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortizationCashFlowsImpact`	$5.76M	USD	Annual
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	$15.20M	USD	Point-in-time
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	$9.60M	USD	Point-in-time
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	$15.20M	USD	1 Quarter
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	-	USD	Annual
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	$24.79M	USD	Annual
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	$9.60M	USD	1 Quarter
Impairment of Well Lift Inc. - related assets	`OtherAssetImpairmentCharges`	$146.05K	USD	Annual
Impairment of Well Lift Inc. - related assets	`OtherAssetImpairmentCharges`	-	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.29M	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.26M	USD	Annual
Settlement of asset retirement obligations	`AssetRetirementObligationCashPaidToSettle`	$101.31K	USD	Annual
Settlement of asset retirement obligations	`AssetRetirementObligationCashPaidToSettle`	$76.83K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-5.10M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-261.67K	USD	Annual
Net loss on derivative contracts	`GainLossOnDerivativeInstrumentsNetPretax`	$-614.64K	USD	Annual
Net loss on derivative contracts	`GainLossOnDerivativeInstrumentsNetPretax`	$-1.38M	USD	Annual
Payments received (paid) for derivative settlements	`ProceedsFromPaymentsForDerivativeSettlements`	$793.33K	USD	Annual
Payments received (paid) for derivative settlements	`ProceedsFromPaymentsForDerivativeSettlements`	$-2.79M	USD	Annual
Other	`OtherOperatingActivitiesCashFlowStatement`	$39.78K	USD	Annual
Other	`OtherOperatingActivitiesCashFlowStatement`	$10.32K	USD	Annual
Receivables	`IncreaseDecreaseInReceivables`	$1.99M	USD	Annual
Receivables	`IncreaseDecreaseInReceivables`	$6.63M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$33.41K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$545.57K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.50M	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-486.01K	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$-141.44K	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$48.39K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$12.40M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.73M	USD	Annual
Acquisition of oil and gas properties	`PaymentsToAcquireOilAndGasProperty`	$18.30M	USD	Annual
Acquisition of oil and gas properties	`PaymentsToAcquireOilAndGasProperty`	$9.34M	USD	Annual
Development of oil and natural gas properties	`PaymentForDevelopmentOfOilAndGasProperties`	$472.40K	USD	Annual
Development of oil and natural gas properties	`PaymentForDevelopmentOfOilAndGasProperties`	$1.72M	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-18.77M	USD	Annual
Net cash used by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.06M	USD	Annual
Common share repurchases, including shares surrendered for tax withholding	`PaymentsForRepurchaseOfCommonStock`	$2.48M	USD	Annual
Common share repurchases, including shares surrendered for tax withholding	`PaymentsForRepurchaseOfCommonStock`	$7.35K	USD	Annual
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$74.50M	USD	30 Qtrs
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$10.74M	USD	Annual
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$4.34M	USD	Annual
Borrowings under credit facility	`ProceedsFromLinesOfCredit`	$7.00M	USD	Annual
Borrowings under credit facility	`ProceedsFromLinesOfCredit`	-	USD	Annual
Repayments of credit facility	`RepaymentsOfLinesOfCredit`	$3.00M	USD	Annual
Repayments of credit facility	`RepaymentsOfLinesOfCredit`	-	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-13.22M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-349.43K	USD	Annual
Net decrease in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-14.39M	USD	Annual
Net decrease in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-11.89M	USD	Annual
Cash, cash equivalents, and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.66M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.28M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.55M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.66M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.28M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.55M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$54.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$74.12M	USD	Point-in-time
Balance	`StockholdersEquity`	$80.13M	USD	Point-in-time
Common share repurchases, including shares surrendered for tax withholding	`TreasuryStockValueAcquiredCostMethod`	$2.48M	USD	Annual
Common share repurchases, including shares surrendered for tax withholding	`TreasuryStockValueAcquiredCostMethod`	$7.35K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.26M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.29M	USD	Annual
Net income (loss) attributable to common shareholders	`NetIncomeLoss`	$5.94M	USD	Annual
Net income (loss) attributable to common shareholders	`NetIncomeLoss`	$-16.44M	USD	Annual
Common stock dividends paid	`DividendsCommonStock`	$4.34M	USD	Annual
Common stock dividends paid	`DividendsCommonStock`	$10.74M	USD	Annual
Balance	`StockholdersEquity`	$54.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$74.12M	USD	Point-in-time
Balance	`StockholdersEquity`	$80.13M	USD	Point-in-time

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