10-Q Filing

EVOLUTION PETROLEUM CORP CIK: 1006655 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001006655-21-000049`
Period End Date	20210930
Filing Date	20211110
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	epm-20210930_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 33 Cash Flow Statement 48 Stockholders Equity 20

Balance Sheet 60 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, shares issued (in shares)	`CommonStockSharesIssued`	33.63M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.95M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	33.51M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.28M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	33.51M	shares	Point-in-time
Receivables from oil and natural gas sales	`ReceivablesNetCurrent`	$8.69M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	33.63M	shares	Point-in-time
Receivables from oil and natural gas sales	`ReceivablesNetCurrent`	$16.30M	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`	$3.11M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$1.04M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$928.59K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$28.30M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.11M	USD	Point-in-time
Oil and natural gas propertiesfull-cost method of accounting, of which none were excluded from amortization	`OilAndGasPropertyFullCostMethodNet`	$57.37M	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
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$10.64K	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$9.55K	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$57.38M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$58.53M	USD	Point-in-time
Other assets, net	`DeferredCostsAndOtherAssets`	$70.79K	USD	Point-in-time
Other assets, net	`DeferredCostsAndOtherAssets`	$58.74K	USD	Point-in-time
Total assets	`Assets`	$85.73M	USD	Point-in-time
Total assets	`Assets`	$76.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.61M	USD	Point-in-time
Accrued liabilities and other	`OtherLiabilitiesCurrent`	$654.27K	USD	Point-in-time
Accrued liabilities and other	`OtherLiabilitiesCurrent`	$947.04K	USD	Point-in-time
State and federal income taxes payable	`TaxesPayableCurrent`	$37.75K	USD	Point-in-time
State and federal income taxes payable	`TaxesPayableCurrent`	$1.68M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.59M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.74M	USD	Point-in-time
Senior secured credit facility	`LongTermLineOfCredit`	$4.00M	USD	Point-in-time
Senior secured credit facility	`LongTermLineOfCredit`	$4.00M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$5.96M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$5.84M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$5.54M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$5.66M	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityNoncurrent`	$20.75K	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityNoncurrent`	$10.42K	USD	Point-in-time
Total liabilities	`Liabilities`	$28.25M	USD	Point-in-time
Total liabilities	`Liabilities`	$22.11M	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; 33,631,749 and 33,514,952 shares issued and outstanding as of September 30, 2021 and June 30, 2021, respectively	`CommonStockValue`	$33.63K	USD	Point-in-time
Common stock; par value $0.001; 100,000,000 shares authorized; 33,631,749 and 33,514,952 shares issued and outstanding as of September 30, 2021 and June 30, 2021, respectively	`CommonStockValue`	$33.52K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$42.54M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$42.74M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$14.72M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.02M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$54.59M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$57.49M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$66.46M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$74.12M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$76.71M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$85.73M	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$5.60M	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$18.88M	USD	1 Quarter
Depreciation, depletion, amortization and accretion	`DepreciationDepletionAndAmortization`	$1.53M	USD	1 Quarter
Depreciation, depletion, amortization and accretion	`DepreciationDepletionAndAmortization`	$1.41M	USD	1 Quarter
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	$9.60M	USD	1 Quarter
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	-	USD	1 Quarter
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	-	USD	1 Quarter
Net loss on derivative contracts	`GainLossOnDerivativeInstrumentsNetPretax`	$-334.97K	USD	1 Quarter
Net loss on derivative contracts	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.94M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$1.28M	USD	1 Quarter
Total operating costs	`OperatingCostsAndExpenses`	$12.09M	USD	1 Quarter
Total operating costs	`OperatingCostsAndExpenses`	$15.03M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-9.43M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$6.79M	USD	1 Quarter
Interest and other income	`InvestmentIncomeInterestandOther`	$2.48K	USD	1 Quarter
Interest and other income	`InvestmentIncomeInterestandOther`	$14.43K	USD	1 Quarter
Interest expense	`InterestExpense`	$22.03K	USD	1 Quarter
Interest expense	`InterestExpense`	$50.61K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-9.44M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.74M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$1.52M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-2.30M	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLoss`	$5.22M	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLoss`	$-7.14M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.16	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.22	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.22	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.53M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.96M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.53M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.96M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income (loss) attributable to common stockholders	`NetIncomeLoss`	$5.22M	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLoss`	$-7.14M	USD	1 Quarter
Depreciation, depletion, amortization and accretion	`DepreciationDepletionAndAmortizationCashFlowsImpact`	$1.41M	USD	1 Quarter
Depreciation, depletion, amortization and accretion	`DepreciationDepletionAndAmortizationCashFlowsImpact`	$1.53M	USD	1 Quarter
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	$9.60M	USD	1 Quarter
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	-	USD	1 Quarter
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.16M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-119.12K	USD	1 Quarter
Net loss on derivative contracts	`GainLossOnDerivativeInstrumentsNetPretax`	$-334.97K	USD	1 Quarter
Net loss on derivative contracts	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Payments paid for derivative settlements	`ProceedsFromPaymentsForDerivativeSettlements`	$1.10M	USD	1 Quarter
Payments paid for derivative settlements	`ProceedsFromPaymentsForDerivativeSettlements`	-	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$3.82K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-2.17K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$7.62M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$57.17K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-83.15K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-108.67K	USD	1 Quarter
Net operating loss carryback	`OperatingLossCarrybackNoncurrent`	-	USD	1 Quarter
Net operating loss carryback	`OperatingLossCarrybackNoncurrent`	$512.04K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.64M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$250.42K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$122.21K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$1.64M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.59M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.15M	USD	1 Quarter
Development of oil and natural gas properties	`CapitalExpenditureOilAndGasProperty`	$390.37K	USD	1 Quarter
Development of oil and natural gas properties	`CapitalExpenditureOilAndGasProperty`	$153.21K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-390.37K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-153.21K	USD	1 Quarter
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$823.85K	USD	1 Quarter
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$77.00M	USD	31 Qtrs
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$2.52M	USD	1 Quarter
Common share repurchases, including shares surrendered for tax withholding	`PaymentsForRepurchaseOfCommonStock`	$7.35K	USD	1 Quarter
Common share repurchases, including shares surrendered for tax withholding	`PaymentsForRepurchaseOfCommonStock`	$1.60K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.52M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-831.19K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.68M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$162.84K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.95M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.83M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.28M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.66M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.95M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.83M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.28M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.66M	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$54.59M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$57.49M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$66.46M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$74.12M	USD	Point-in-time
Issuance of restricted common stock	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	1 Quarter
Forfeitures and expirations of restricted stock	`StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures`	-	USD	1 Quarter
Common share repurchases, including shares surrendered for tax withholding	`StockRepurchasedDuringPeriodValue`	$7.35K	USD	1 Quarter
Common share repurchases, including shares surrendered for tax withholding	`StockRepurchasedDuringPeriodValue`	$1.60K	USD	1 Quarter
Retirements of treasury stock	`TreasuryStockRetiredCostMethodAmount`	-	USD	1 Quarter
Retirements of treasury stock	`TreasuryStockRetiredCostMethodAmount`	-	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$197.83K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$300.35K	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLoss`	$5.22M	USD	1 Quarter
Net income (loss) attributable to common stockholders	`NetIncomeLoss`	$-7.14M	USD	1 Quarter
Common stock dividends paid	`DividendsCommonStock`	$2.52M	USD	1 Quarter
Common stock dividends paid	`DividendsCommonStock`	$823.85K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$54.59M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$57.49M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$66.46M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$74.12M	USD	Point-in-time

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