EVOLUTION PETROLEUM CORP

Evolution Petroleum Corporation (NYSE American: EPM) is an independent energy company focused on acquiring and developing long-lived oil and natural gas properties across the United States. The company operates through a diversified portfolio consisting primarily of non-operated working interests and mineral and royalty interests in several leading producing basins.

The company's asset base spans multiple geographic regions and operational areas. Its SCOOP/STACK properties in central Oklahoma represent its largest producing region, followed by significant positions in the Barnett Shale in north Texas, the Jonah Field in Wyoming, and the Williston Basin in North Dakota. Additional producing properties include the Chaveroo Field in New Mexico, the Hamilton Dome Field in Wyoming, the Delhi Field in Louisiana, and TexMex properties spanning New Mexico and Texas. The company also holds mineral and royalty interests in the Haynesville/Bossier Shale in Louisiana.

As of June 30, 2026, Evolution held proved reserves of approximately 27.2 million barrels of oil equivalent, comprising 39.1 percent oil, 45.4 percent natural gas, and 15.5 percent natural gas liquids. The company's average daily production during fiscal year 2026 was approximately 7.1 thousand barrels of oil equivalent per day. The company operates 2,651 gross productive wells (385.8 net) across its portfolio and holds approximately 396,604 gross acres (74,692 net acres).

Evolution's business strategy emphasizes maintaining a strong balance sheet, growing its asset base through disciplined acquisitions and selective participation in development opportunities, and returning capital to shareholders through dividends and share repurchases. The company's non-operated model allows it to invest alongside experienced operators while maintaining flexibility in capital allocation. During fiscal 2026, Evolution completed acquisitions of mineral and royalty interests in the Permian Basin, Louisiana, and Oklahoma, funded through a combination of equity offerings, borrowings, and cash on hand.

The company maintains a Senior Secured Credit Facility with a borrowing base and engages in commodity hedging activities to manage price and interest rate exposure. Evolution's diversified portfolio across multiple basins, operators, and commodity types provides operational and commodity flexibility while reducing reliance on any single property or development program.