10-K Filing

EVOLUTION PETROLEUM CORP CIK: 1006655 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001558370-22-014404`
Period End Date	20220630
Filing Date	20220914
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	epm-20220630x10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 37 Cash Flow Statement 65 Stockholders Equity 14

Balance Sheet 58 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`	33.51M	shares	Point-in-time
Common stock, issued shares (in shares)	`CommonStockSharesIssued`	33.47M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.28M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.28M	USD	Point-in-time
Receivables from crude oil, natural gas, and natural gas liquids sales	`AccountsReceivableNetCurrent`	$24.08M	USD	Point-in-time
Receivables from crude oil, natural gas, and natural gas liquids sales	`AccountsReceivableNetCurrent`	$8.69M	USD	Point-in-time
Common stock, outstanding shares (in shares)	`CommonStockSharesOutstanding`	33.51M	shares	Point-in-time
Common stock, outstanding shares (in shares)	`CommonStockSharesOutstanding`	33.47M	shares	Point-in-time
Receivables for federal and state income tax refunds	`IncomeTaxReceivable`	$3.11M	USD	Point-in-time
Derivative contract assets	`DerivativeAssetsCurrent`	$170.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$3.84M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.04M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$36.37M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$18.11M	USD	Point-in-time
Oil and natural gas properties, net-full-cost method of accounting, of which none were excluded from amortization	`OilAndGasPropertyFullCostMethodNet`	$58.52M	USD	Point-in-time
Oil and natural gas properties, net-full-cost method of accounting, of which none were excluded from amortization	`OilAndGasPropertyFullCostMethodNet`	$110.51M	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$11.00K	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$58.53M	USD	Point-in-time
Total property and equipment, net	`PropertyPlantAndEquipmentNet`	$110.51M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$71.00K	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$1.17M	USD	Point-in-time
Total assets	`Assets`	$148.05M	USD	Point-in-time
Total assets	`Assets`	$76.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.61M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$4.94M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesCurrent`	$11.89M	USD	Point-in-time
Derivative contract liabilities	`DerivativeLiabilitiesCurrent`	$2.16M	USD	Point-in-time
State and federal taxes payable	`TaxesPayableCurrent`	$38.00K	USD	Point-in-time
State and federal taxes payable	`TaxesPayableCurrent`	$1.09M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.59M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$30.29M	USD	Point-in-time
Senior secured credit facility	`LongTermLineOfCredit`	$21.25M	USD	Point-in-time
Senior secured credit facility	`LongTermLineOfCredit`	$4.00M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$7.10M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$5.96M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$13.90M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$5.54M	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityNoncurrent`	$21.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$22.11M	USD	Point-in-time
Total liabilities	`Liabilities`	$72.53M	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock; par value $0.001; 100,000,000 shares authorized: issued and outstanding 33,470,710 and 33,514,952 shares as of June 30, 2022 and 2021, respectively	`CommonStockValue`	$33.00K	USD	Point-in-time
Common stock; par value $0.001; 100,000,000 shares authorized: issued and outstanding 33,470,710 and 33,514,952 shares as of June 30, 2022 and 2021, respectively	`CommonStockValue`	$34.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$42.63M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$42.54M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$32.85M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$12.02M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$74.12M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$75.51M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$54.59M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$148.05M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$76.71M	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$108.93M	USD	Annual
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$32.70M	USD	Annual
Lease operating costs	`CostOfGoodsAndServicesSold`	$48.66M	USD	Annual
Lease operating costs	`CostOfGoodsAndServicesSold`	$16.59M	USD	Annual
Depletion, depreciation, and amortization	`DepreciationDepletionAndAmortization`	$5.17M	USD	Annual
Depletion, depreciation, and amortization	`DepreciationDepletionAndAmortization`	$8.05M	USD	Annual
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	$9.60M	USD	Point-in-time
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	-	USD	Annual
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	$24.79M	USD	Annual
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	$15.20M	USD	Point-in-time
Impairment of Well Lift Inc. - related assets	`OtherAssetImpairmentCharges`	$146.00K	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.83M	USD	Annual
General and administrative expenses	`GeneralAndAdministrativeExpense`	$6.75M	USD	Annual
Total operating costs	`OperatingCostsAndExpenses`	$63.55M	USD	Annual
Total operating costs	`OperatingCostsAndExpenses`	$53.45M	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$45.38M	USD	Annual
Income (loss) from operations	`OperatingIncomeLoss`	$-20.74M	USD	Annual
Net gain (loss) on derivative contracts	`GainLossOnDerivativeInstrumentsNetPretax`	$-615.00K	USD	Annual
Net gain (loss) on derivative contracts	`GainLossOnDerivativeInstrumentsNetPretax`	$-3.76M	USD	Annual
Interest and other income	`InvestmentIncomeInterestandOther`	$40.00K	USD	Annual
Interest and other income	`InvestmentIncomeInterestandOther`	$95.00K	USD	Annual
Interest expense	`InterestExpense`	$103.00K	USD	Annual
Interest expense	`InterestExpense`	$572.00K	USD	Annual
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$41.14M	USD	Annual
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-21.42M	USD	Annual
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$-4.98M	USD	Annual
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$8.51M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-16.44M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$32.63M	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.50	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.97	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.50	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.96	USD	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.74M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.95M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.31M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.74M	shares	Annual

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$-16.44M	USD	Annual
Net income (loss)	`ProfitLoss`	$32.63M	USD	Annual
Depletion, depreciation, and amortization	`DepreciationDepletionAndAmortization`	$5.17M	USD	Annual
Depletion, depreciation, and amortization	`DepreciationDepletionAndAmortization`	$8.05M	USD	Annual
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	$9.60M	USD	Point-in-time
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	-	USD	Annual
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	$24.79M	USD	Annual
Impairment of proved property	`ImpairmentOfOilAndGasProperties`	$15.20M	USD	Point-in-time
Impairment of Well Lift Inc. - related assets	`OtherAssetImpairmentCharges`	$146.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$125.00K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$1.26M	USD	Annual
Settlement of asset retirement obligations	`AssetRetirementObligationCashPaidToSettle`	$101.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-5.10M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.14M	USD	Annual
Unrealized loss on derivative contracts	`UnrealizedGainLossOnDerivativesAndCommodityContracts`	$-1.99M	USD	Annual
Unrealized loss on derivative contracts	`UnrealizedGainLossOnDerivativesAndCommodityContracts`	$-615.00K	USD	Annual
Accrued settlements on derivative contracts	`AccruedSettlementsOnDerivativeContracts`	$2.79M	USD	Annual
Accrued settlements on derivative contracts	`AccruedSettlementsOnDerivativeContracts`	$-919.00K	USD	Annual
Other	`OtherOperatingActivitiesCashFlowStatement`	$10.00K	USD	Annual
Other	`OtherOperatingActivitiesCashFlowStatement`	$-10.00K	USD	Annual
Receivables	`IncreaseDecreaseInReceivables`	$6.63M	USD	Annual
Receivables	`IncreaseDecreaseInReceivables`	$11.43M	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$538.00K	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$546.00K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.50M	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$18.52M	USD	Annual
State and federal income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$1.06M	USD	Annual
State and federal income taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$-141.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.73M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$52.46M	USD	Annual
Acquisition of oil and natural gas properties	`PaymentsToAcquireOilAndGasProperty`	$18.30M	USD	Annual
Acquisition of oil and natural gas properties	`PaymentsToAcquireOilAndGasProperty`	$53.34M	USD	Annual
Capital expenditures for oil and natural gas properties	`CapitalExpenditureOilAndGasProperty`	$1.53M	USD	Annual
Capital expenditures for oil and natural gas properties	`CapitalExpenditureOilAndGasProperty`	$472.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-54.87M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-18.77M	USD	Annual
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$4.34M	USD	Annual
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$11.80M	USD	Annual
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$86.30M	USD	34 Qtrs
Common stock repurchases, including stock surrendered for tax withholding	`PaymentsForRepurchaseOfCommonStock`	$38.00K	USD	Annual
Common stock repurchases, including stock surrendered for tax withholding	`PaymentsForRepurchaseOfCommonStock`	$7.00K	USD	Annual
Borrowings under credit facility	`ProceedsFromLinesOfCredit`	$34.00M	USD	Annual
Borrowings under credit facility	`ProceedsFromLinesOfCredit`	$7.00M	USD	Annual
Repayments of credit facility	`RepaymentsOfLinesOfCredit`	$16.75M	USD	Annual
Repayments of credit facility	`RepaymentsOfLinesOfCredit`	$3.00M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-349.00K	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.42M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.00M	USD	Annual
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-14.38M	USD	Annual
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.66M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.28M	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.28M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.66M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.28M	USD	Point-in-time
Cash and cash equivalents, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.28M	USD	Point-in-time
Cash paid for interest on Senior secured credit facility	`InterestPaidNet`	$523.00K	USD	Annual
Cash paid for interest on Senior secured credit facility	`InterestPaidNet`	$86.00K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	$6.29M	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	$758.00K	USD	Annual
Cash received from income tax refunds	`ProceedsFromIncomeTaxRefunds`	$3.22M	USD	Annual
Cash received from income tax refunds	`ProceedsFromIncomeTaxRefunds`	$142.00K	USD	Annual
Increase (decrease) in accrued purchases of property and equipment	`IncreaseDecreaseinAccountsPayableUsedtoAcquirePropertyandEquipment`	$-80.00K	USD	Annual
Increase (decrease) in accrued purchases of property and equipment	`IncreaseDecreaseinAccountsPayableUsedtoAcquirePropertyandEquipment`	$1.09M	USD	Annual
Oil and natural gas property costs attributable to the recognition of asset retirement obligations	`OilAndNaturalGasPropertiesIncurredThroughRecognitionOfAssetRetirementObligations`	$7.81M	USD	Annual
Oil and natural gas property costs attributable to the recognition of asset retirement obligations	`OilAndNaturalGasPropertiesIncurredThroughRecognitionOfAssetRetirementObligations`	$2.88M	USD	Annual

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$74.12M	USD	Point-in-time
Balance	`StockholdersEquity`	$75.51M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.59M	USD	Point-in-time
Common stock repurchases, including stock surrendered for tax withholding	`TreasuryStockValueAcquiredCostMethod`	$38.00K	USD	Annual
Common stock repurchases, including stock surrendered for tax withholding	`TreasuryStockValueAcquiredCostMethod`	$7.00K	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.26M	USD	Annual
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$125.00K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-16.44M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$32.63M	USD	Annual
Common stock dividends paid	`DividendsCommonStock`	$11.80M	USD	Annual
Common stock dividends paid	`DividendsCommonStock`	$4.34M	USD	Annual
Balance	`StockholdersEquity`	$74.12M	USD	Point-in-time
Balance	`StockholdersEquity`	$75.51M	USD	Point-in-time
Balance	`StockholdersEquity`	$54.59M	USD	Point-in-time

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