Evolution Petroleum to acquire Midland Basin mineral & royalty interests for $16M

EVOLUTION PETROLEUM CORP

Acquiring ~3,420 net royalty acres in core Midland Basin (Reagan, Upton, Glasscock, Midland, Martin counties) for $16M cash, subject to adjustments.
Expected to close Aug 21, 2026, effective Aug 1, 2026; funded with offering proceeds, cash on hand, and revolver borrowings.
Deal implies ~4.1x NTM cash flow multiple; expected NTM cash flow of $3.9M (~24.6% yield) and immediately accretive to cash flow per share.
Adds 832 producing wells, 7 completed, 34 DUCs, 27 permitted, ~1,257 upside locations; current production ~210 BOE/d (65% liquids).
Pro forma M&R acres rise to ~9,320; M&R expected to be ~20% of FY2027 asset cash flow mix vs <10% in FY2026.

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