Evolution Petroleum Q1 FY27 swings to $2.99 million net loss year over year
EPM•Evolution Petroleum reported a fiscal first-quarter FY27 net loss of $2.99 million, compared with net income of $824,000 a year earlier. Revenue rose 6% to $22.55 million, while average production fell 5% to 6,978 barrels of oil equivalent per day.
1. Quarterly results
Evolution Petroleum swung to a fiscal first-quarter FY27 net loss of $2.99 million from net income of $824,000 a year earlier. Oil, natural gas and NGL revenues rose 6% year over year to $22.55 million, driven by higher realized oil and NGL prices. Average production declined 5% to 6,978 barrels of oil equivalent per day, partly due to unplanned downtime at Delhi and TexMex.
2. Farmout and dividend
Following quarter-end, a Williston Basin farmout covering 636 net acres generated approximately $2.5 million. A quarterly cash dividend of $0.12 per common share is payable December 31, 2026.
