Kelly M. Beatty
On December 18, 2023, the Board of Directors (the “Board”) of Evolution Petroleum Corporation (the “Company”) approved the appointment of Kelly M. Beatty as Chief Accounting Officer, effective January 1, 2024
Highest-materiality recent filing
Evolution Petroleum closes $16M Midland Basin mineral & royalty acquisition
Closed purchase of ~3,420 net royalty acres across Reagan, Upton, Glasscock, Midland, Martin counties, Texas.
Evolution Petroleum to acquire Midland Basin mineral & royalty interests for $16M
Acquiring ~3,420 net royalty acres in core Midland Basin (Reagan, Upton, Glasscock, Midland, Martin counties) for $16M cash, subject to adjustments.
Evolution Petroleum Q3 net loss $8.9M; revenue down 11% YoY; EBITDA falls 58%
Net loss $8.9M ($0.26/diluted); adjusted net loss $2.9M; Adjusted EBITDA $3.1M (down 58% YoY).
Evolution Petroleum Q2 net income improves to $1.1M; adjusted EBITDA up 41%
Net income $1.1M ($0.03/diluted) vs net loss $1.8M ($0.06 loss) in prior-year quarter.
Net income $0.8M ($0.02 diluted EPS) on revenue $21.3M (-3% YoY); adjusted net loss $0.1M.
Evolution Petroleum Q4 net income up 176% to $3.4M; declares $0.12 dividend
Fiscal Q4 net income $3.4M ($0.10/diluted) vs $1.2M YoY; Adjusted EBITDA $8.6M, up 7% YoY.
Evolution Petroleum closes $17M mineral/royalty acquisition in SCOOP/STACK, Oklahoma
Acquisition of ~5,500 net royalty acres in Grady and Canadian Counties, Oklahoma for ~$17M cash, funded from cash on hand and credit facility.
Evolution closes $200M credit facility, recovers $1.8M from Barnett audit
New $200M senior secured credit facility; initial borrowing base $65M, matures June 30, 2028; $37.5M drawn.
Evolution Petroleum reports Q3 net loss of $2.2M; production down 8% YoY; declares $0.12 dividend
Q3 net loss of $2.2M ($0.07/sh) vs net income of $0.3M ($0.01/sh) year ago; revenue $22.6M, down 2% YoY.
Net loss of $1.8M ($0.06 per share) vs net income of $1.1M in prior-year quarter; adjusted net loss of $0.8M.
Revenue rose 6% YoY to $21.9M, driven by record oil production and 16% total production growth to 7,478 BOEPD.
Evolution Petroleum Q4 revenue $21.2M (+17% YoY); net income $1.2M (+644%)
Net income $1.2M ($0.04 diluted EPS) vs $0.2M in Q4 2023; Adjusted EBITDA $8.0M, up 72% YoY.
Evolution Petroleum Q3 revenue $23M, net income $0.3M, production up 14%
Revenue $23.0M (+10% QoQ); net income $0.3M ($0.01/diluted share) vs $1.1M prior quarter; adjusted net income $1.0M ($0.03/diluted).
Evolution Petroleum completes Red Sky asset acquisitions; historical revenue $20M
Combined purchase price ~$36.5M net of adjustments for Red Sky Properties in SCOOP/STACK.
Evolution Petroleum Q2 net income $1.1M, revenue $21.0M; declares $0.12 dividend
Revenue $21.0M (+2% QoQ); net income $1.1M ($0.03 diluted EPS vs $0.04 prior).
Evolution Petroleum buys Oklahoma SCOOP/STACK assets for $43.5M cash, ~1,550 BOEPD
$43.5M cash acquisition, effective Nov 1, 2023, closing mid-Feb 2024.
Evolution Pet Q1 revenue $20.6M (up 13% QoQ), net income $1.5M; Chaveroo wells spud; $0.12 dividend
Net income $1.5M ($0.04 diluted EPS) vs. $0.2M prior quarter; Adjusted EBITDA $6.7M (up 43% QoQ).
Evolution Petroleum reports record FY2023 revenue $128.5M, EPS $1.04, declares $0.12 dividend
FY2023 revenue $128.5M (+18% YoY); net income $35.2M ($1.04 diluted EPS), up 8%.
Evolution Petroleum reports record Q3 revenue $36.9M, net income $14.0M; declares $0.12 dividend
Fiscal Q3 revenue $36.9M (record), net income $14.0M ($0.41 diluted EPS), Adjusted EBITDA $22.0M.
Evolution Petroleum revenue $33.7M, net income $10.4M, repays all debt, declares $0.12 dividend
Q2 fiscal 2023 revenue $33.7M, net income $10.4M ($0.31 diluted EPS); YTD revenue up 78% YoY.
Evolution Petroleum reports Q1 fiscal 2023 net income $10.7M; declares $0.12 dividend, up 20%
Revenue $39.8M, net income $10.7M ($0.32 diluted EPS); Adjusted EBITDA $17.0M.
Evolution Petroleum appoints Kelly Loyd as permanent CEO, base salary $375K
Kelly Loyd appointed President and CEO, effective immediately; had served as Interim CEO since June 2022.
Evolution Petroleum reports Q4 net income $14.9M; dividend up 20%, $25M buyback authorized
Q4 FY2022 net income $14.9M ($0.44/diluted), revenue $42.0M (+64% sequentially).
Evolution Petroleum FY2022 proved reserves +55% to 36.2 MMBOE; exit production up 36%
Proved reserves 36.2 MMBOE (up from 23.4 MMBOE) driven by two acquisitions and positive revisions.
Evolution Petroleum CEO Jason Brown departs; Kelly Loyd appointed interim CEO
Jason Brown departs as President and CEO to pursue other opportunities; effective July 5, 2022.
Acquired Exaro Energy III LLC reported 2021 net income of $1.218M, vs net loss of $0.971M in 2020.
EPM Q3 FY22: Revenue $25.7M, prod 5,579 BOEPD, adj EBITDA $12.3M; $0.10 dividend
Production 5,579 BOEPD (+13% QoQ); revenue $25.7M (+15% QoQ, +236% YoY).
Evolution Petroleum closes $26.2M Jonah Field acquisition, boosting production 37%
Acquired non-operated natural gas assets in Jonah Field, WY for $26.2M net, funded via cash and $17M credit facility draw.
Evolution Petroleum provides financials for $25.9M Williston Basin acquisition
Acquired properties generated $8.69M revenue and $4.00M direct op ex for nine months ended Sep 30, 2021.
Evolution Petroleum Q2 net income $6.8M, raises dividend to $0.10, acquires Jonah Field for $29.4M
Net income $6.8M ($0.20 diluted EPS) vs $5.2M ($0.16) prior quarter; revenue $22.3M up 18%.
Evolution Petroleum closes $25.9M Williston Basin asset acquisition; adds ~596 BOEPD
Acquired ~39% working interest in 73 producing wells across 47,500 net acres in North Dakota.
Evolution Petroleum Q1 net income $5.2M, up 135%; declares $0.075 dividend
Net income $5.2M ($0.16/diluted) vs $2.2M ($0.07) prior quarter; revenue $18.9M, up 38%.
Evolution Q4 net income $2.2M, production +156% QoQ; raises dividend 50%
Q4 net income $2.2M ($0.07 diluted EPS) vs $1.2M prior quarter; revenue $13.7M.
On December 18, 2023, the Board of Directors (the “Board”) of Evolution Petroleum Corporation (the “Company”) approved the appointment of Kelly M. Beatty as Chief Accounting Officer, effective January 1, 2024
Evolution Petroleum Corporation (the "Company") announced that the Board of Directors has appointed J. Mark Bunch as Chief Operating Officer.
On December 8, 2022, the Board of Directors (the “Board”) of Evolution Petroleum Corporation (the “Company”) approved the appointment of Kelly M. Beatty, age 39, as Principal Accounting Officer of the Company, effective December 8, 2022 (the “Effective Date”).
the Board of Directors has selected Kelly W. Loyd as President and Chief Executive Officer.
On September 12, 2022, Evolution Petroleum Corporation (the "Company") announced the appointment of Myra Coleman Bierria to the Company's Board of Directors (the "Board"), effective September 8, 2022.
Mr. Jason Brown, the President and Chief Executive Officer of Evolution Petroleum Corporation (the “Company”) is departing as the President and Chief Executive Officer of the Company to pursue other opportunities.
the Board appointed Mr. Kelly W. Loyd interim President and Chief Executive Officer effective immediately.
Max materiality 0.80 · Median 0.65 · Most common event earnings