Evolution Petroleum Q1 net income $5.2M, up 135%; declares $0.075 dividend

EVOLUTION PETROLEUM CORP

2022-Q1 EPS reported $0.16 revenue$18,879,010

Net income $5.2M ($0.16/diluted) vs $2.2M ($0.07) prior quarter; revenue $18.9M, up 38%.
Production 5,843 BOEPD, up 33% from prior quarter; first full quarter from Barnett Shale assets.
Adjusted EBITDA $8.5M, up 83% from $4.7M; cash $8.0M, no net debt.
Quarterly dividend $0.075/share declared, payable Dec 31, 2021 to holders of record Dec 15.
Credit facility borrowing base raised to $50M ($20M increase), elected commitment $40M; adds hedging covenant.

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