Quarterly ResultMay 13, 2026, 04:23 PM
Evolution Petroleum Q3 Net Loss $(8.93)M; Revenue $20.17M
AI Summary
Evolution Petroleum Corp reported a net loss of $(8.93) million for the three months ended March 31, 2026, a significant increase from the $(2.18) million loss in the same period last year, with total revenues declining to $20.17 million. The company also incurred a higher net loss on derivative contracts. Strategically, Evolution Petroleum completed several acquisitions, including Louisiana mineral and royalty interests for $5.0 million and the SCOOP/STACK Minerals Acquisition for $16.3 million. The company also expanded its Senior Secured Credit Facility to $200.0 million and plans a $3.3 million divestment of non-core assets.
Key Highlights
- Net loss for the three months ended March 31, 2026, was $(8.93) million, compared to $(2.18) million in the prior year.
- Total revenues for the three months ended March 31, 2026, decreased to $20.17 million from $22.56 million.
- Basic net loss per common share was $(0.26) for Q3 2026, compared to $(0.07) for Q3 2025.
- Net loss on derivative contracts was $(9.87) million for Q3 2026, compared to $(3.80) million in Q3 2025.
- Acquired Louisiana mineral and royalty interests for $5.0 million from December 2025 through March 2026.
- Completed SCOOP/STACK Minerals Acquisition for approximately $16.3 million in August 2025.
- Senior Secured Credit Facility was amended to $200.0 million, with a current borrowing base of $65.0 million.
- Long-term debt under the senior secured credit facility increased to $56.5 million as of March 31, 2026, from $37.5 million.
Price Impact
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