Evolution Petroleum Corporation Reports Earnings Results for the Second Quarter and Six Months Ended December 31, 2023
February 06, 2024 at 04:16 pm EST
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Evolution Petroleum Corporation reported earnings results for the second quarter and six months ended December 31, 2023. For the second quarter, the company reported revenue was USD 21.02 million compared to USD 33.68 million a year ago. Net income was USD 1.08 million compared to USD 10.39 million a year ago. Basic earnings per share from continuing operations was USD 0.03 compared to USD 0.31 a year ago. Diluted earnings per share from continuing operations was USD 0.03 compared to USD 0.31 a year ago.
For the six months, revenue was USD 41.63 million compared to USD 73.47 million a year ago. Net income was USD 2.56 million compared to USD 21.09 million a year ago. Basic earnings per share from continuing operations was USD 0.08 compared to USD 0.63 a year ago. Diluted earnings per share from continuing operations was USD 0.08 compared to USD 0.62 a year ago.
Evolution Petroleum Corporation is an independent energy company. The Company is focused on ownership of and investment in onshore oil and natural gas properties in the United States. Its oil and natural gas properties consist of non-operated interests in the non-operated interests in the Jonah Field in Sublette County, Wyoming, a natural gas producing field; non-operated interests in the Williston Basin in North Dakota, a producing oil and natural gas property; non-operated interests in the Barnett Shale located in North Texas, a natural gas producing property; non-operated interests in the Hamilton Dome Field located in Hot Springs County, Wyoming, a secondary recovery field utilizing water injection wells to pressurize the reservoir; non-operated interests in the Delhi Holt-Bryant Unit in the Delhi Field in Northeast Louisiana, a CO2 enhanced oil recovery (EOR) project; and small overriding royalty interests in four onshore central Texas wells.