Recent Updates — EPM
Evolution Petroleum Corporation declared a $0.12 per share cash dividend for fiscal first quarter 2027, payable on September 30, 2026 to shareholders of record as of September 21, 2026. This marks the company's 52nd consecutive quarterly dividend payment since December 2013. Additionally, the company reported financial results for its fiscal fourth quarter and full year ended June 30, 2026, showing net income of $4.6 million and adjusted EBITDA of $6.5 million. The firm is an independent energy company focused on maximizing total shareholder returns through ownership and investment in working and royalty interests in onshore oil and natural gas properties.
Evolution Petroleum Corporation closed its previously announced acquisition of mineral and royalty interests in the Midland Basin on August 20, 2026, for $16 million subject to customary adjustments. The acquired assets span approximately 3,420 net royalty acres across five Texas counties and include royalties on an estimated 832 producing wells, 7 completed wells, 34 drilled but uncompleted wells, and 27 permitted wells. Current production is approximately 210 BOE/d with a 65% liquids content. The transaction is expected to generate $3.9 million in next-twelve-month cash flow at a multiple of roughly 4.1x and will more than double daily production by the end of fiscal 2029 without additional capital expenditure from Evolution. This acquisition strengthens dividend coverage and increases pro forma liquidity to approximately $19 million. Evolution Petroleum Corporation is an independent energy company focused on maximizing shareholder returns through ownership and investment in onshore oil and natural gas properties.
Evolution Petroleum Corporation sold 4,255,000 shares of common stock at $3.25 per share in an underwritten public offering, generating approximately $12.4 million in net proceeds after deducting underwriting discounts and expenses. The transaction included the full exercise of a 30-day option to purchase an additional 555,000 shares. Proceeds will fund part of a previously announced acquisition of oil and natural gas mineral interests in the Permian Basin, with remaining funds for general corporate purposes or credit facility repayment. Evolution Petroleum Corporation is an independent energy company focused on owning and investing in onshore U.S. oil and natural gas properties.
Evolution Petroleum Corporation entered into a Purchase and Sale Agreement to acquire mineral, royalty, and overriding royalty interests in the Midland Basin of Texas for $16 million in cash. The transaction involves approximately 3,420 net royalty acres across Reagan, Upton, Glasscock, Midland, and Martin Counties, with an expected closing date of August 21, 2026, and an effective date of August 1, 2026. The acquisition is funded through a concurrent public offering of common stock, cash on hand, and borrowings under its revolving credit facility. Management expects the assets to generate approximately $3.9 million in next-twelve-month cash flow, representing a 4.1x multiple and enhancing dividend coverage without requiring drilling capital or lifting expenses. Evolution Petroleum Corporation is an independent energy company focused on maximizing shareholder returns through ownership of onshore oil and natural gas properties.