Evolution Petroleum reports Q4 ex-items EPS 3c, consensus 6c

Reports Q4 revenue $21.23M, consensus $23.72M. Total production for Q4 increased 11% to 7,209 net BOEPD compared to 6,484 net BOEPD in the year-ago period. Kelly Loyd, president and CEO, commented, “Following our record year of natural gas production and revenue in fiscal 2023, this fiscal year we recognized the importance of balancing our portfolio. This helped reduce exposure to natural gas price volatility while increasing our ability to participate in organic growth of reserves and production. As a result, we generated record liquids revenues and production for the year and completed two transformative transactions that added 6.6 MMBOE of proved reserves, with the majority of the locations yet to be booked. We expect these acquisitions to meaningfully contribute to cash flow and further support our dividend-focused policy over the next ten years.”