Overview
Compare with Kolibri Global Energy Inc., Epsilon Energy Ltd. or DORCHESTER MINERALS, L.P., or pick any stock.
- TickerEPM on NYSE2
- IndustryCrude Petroleum & Natural Gas2
- HeadquartersHouston, United States2
- Incorporated inNV4
- Business address1155 Dairy Ashford Road, Suite 425, Houston, Tx 770794
- Filer categoryNon-accelerated filer, Smaller reporting company4
- Legal formProfit Corporation2
- LEI549300P9ZXGJZ6SSM1162
- StatusActive2
- LEI statusLapsed (not renewed)2
- Registered addressC/O CAPITOL CORPORATE SERVICES, INC., 89703 Carson City, United States2
- Registered withBusiness Center (Secretary of State), C1747-20022
See how the biggest companies compare on our leaderboards
Evolution Petroleum Corporation (“Evolution,” and together with its consolidated subsidiaries, the “Company”, “our”, “we, “us” or similar terms) is an independent energy company focused on acquiring and developing long-lived oil and natural gas properties in the United States. Our diversified portfolio consists primarily of non-operated working interests and mineral and royalty interests across several leading producing basins.6 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2026
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Crude Oil brought in 59% of the revenue EVOLUTION PETROLEUM CORP broke down this way in fiscal 2026.
Products and services by year
| Products and services | 2025 | 2026 |
|---|---|---|
| Crude Oil | $51.1M | $50.6M |
| Natural Gas | $23.5M | $25.0M |
| Natural Gas Liquids (NGL) | $11.2M | $10.7M |
Where the money goes
Where each dollar of revenue went, fiscal 2026
- Cost of revenue58¢$50.3M
- Other costs41¢$35.3M
- Income tax1¢$718.0K
Out of $86.3M in revenue.3 The company lost money this year.
Where each dollar of operating cash went, fiscal 2026
- Dividends paid72¢$16.9M
- Share buybacks1¢$225.0K
- Kept or used elsewhere27¢$6.3M
Out of $23.5M of cash from operations.3
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.3
| Period ending | 2026-06-30 | 2025-06-30 |
|---|---|---|
| Total revenues | $86.3M | $85.8M |
| Lease operating costs | $50.3M | $49.3M |
| Depletion, depreciation, and accretion | $22.8M | $22.0M |
| General and administrative expenses | $9.7M | $10.3M |
| Total operating costs | $82.9M | $81.7M |
| Income (loss) from operations | $3.5M | $4.2M |
| Net gain (loss) on derivative contracts | -$2.9M | $473.0K |
| Interest and other income | $72.0K | $191.0K |
| Interest expense | -$3.8M | -$3.0M |
| Income (loss) before income taxes | -$3.1M | $1.9M |
| Income tax (expense) benefit | $718.0K | -$396.0K |
| Net income (loss) | -$2.4M | $1.5M |
| Basic (in dollars per share) | -$0.08 | $0.03 |
| Diluted (in dollars per share) | -$0.08 | $0.03 |
| Basic (in shares) | 34.3M shares | 33.2M shares |
| Diluted (in shares) | 34.3M shares | 33.3M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.3
| Period ending | 2026-06-30 | 2025-06-30 | 2024-06-30 |
|---|---|---|---|
| Cash and cash equivalents | $6.1M | $2.5M | |
| Receivables from crude oil, natural gas, and natural gas liquids revenues | $10.1M | $10.8M | |
| Derivative contract assets | $2.1M | $1.8M | |
| Prepaid expenses and other current assets | $2.2M | $2.3M | |
| Total current assets | $20.5M | $17.4M | |
| Oil and natural gas properties, net - full-cost method of accounting, of which none were excluded from amortization | $147.0M | $142.2M | |
| Derivative contract assets | $478.0K | $198.0K | |
| Other assets, net | $734.0K | $431.0K | |
| Total assets | $168.7M | $160.3M | |
| Accounts payable | $13.8M | $12.9M | |
| Accrued liabilities and other | $5.7M | $6.9M | |
| Derivative contract liabilities | $2.9M | $1.6M | |
| Total current liabilities | $22.4M | $21.4M | |
| Senior secured credit facility | $56.5M | $37.5M | |
| Deferred income taxes | $5.3M | $6.2M | |
| Asset retirement obligations | $23.6M | $21.5M | |
| Derivative contract liabilities | $190.0K | $1.8M | |
| Operating lease liability | $351.0K | ||
| Total liabilities | $108.3M | $88.4M | |
| Common stock; par value $0.001; 100,000,000 shares authorized: issued and outstanding 35,949,843 and 34,337,188 shares as of June 30, 2026 and 2025, respectively | $36.0K | $34.0K | |
| Additional paid-in capital | $54.6M | $46.6M | |
| Retained earnings | $5.8M | $25.1M | |
| Total stockholders' equity | $60.4M | $71.8M | $81.1M |
| Total liabilities and stockholders' equity | $168.7M | $160.3M | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 100.0M shares | 100.0M shares | |
| Common stock, issued shares (in shares) | 35.9M shares | 34.3M shares | |
| Common stock, outstanding shares (in shares) | 35.9M shares | 34.3M shares |
| Period ending | 2026-06-30 | 2025-06-30 | 2024-06-30 |
|---|---|---|---|
| Cash and cash equivalents | $6.1M | $2.5M | |
| Receivables from crude oil, natural gas, and natural gas liquids revenues | $10.1M | $10.8M | |
| Derivative contract assets | $2.1M | $1.8M | |
| Prepaid expenses and other current assets | $2.2M | $2.3M | |
| Total current assets | $20.5M | $17.4M | |
| Oil and natural gas properties, net - full-cost method of accounting, of which none were excluded from amortization | $147.0M | $142.2M | |
| Derivative contract assets | $478.0K | $198.0K | |
| Other assets, net | $734.0K | $431.0K | |
| Total assets | $168.7M | $160.3M | |
| Accounts payable | $13.8M | $12.9M | |
| Accrued liabilities and other | $5.7M | $6.9M | |
| Derivative contract liabilities | $2.9M | $1.6M | |
| Total current liabilities | $22.4M | $21.4M | |
| Senior secured credit facility | $56.5M | $37.5M | |
| Deferred income taxes | $5.3M | $6.2M | |
| Asset retirement obligations | $23.6M | $21.5M | |
| Derivative contract liabilities | $190.0K | $1.8M | |
| Operating lease liability | $351.0K | ||
| Total liabilities | $108.3M | $88.4M | |
| Common stock; par value $0.001; 100,000,000 shares authorized: issued and outstanding 35,949,843 and 34,337,188 shares as of June 30, 2026 and 2025, respectively | $36.0K | $34.0K | |
| Additional paid-in capital | $54.6M | $46.6M | |
| Retained earnings | $5.8M | $25.1M | |
| Total stockholders' equity | $60.4M | $71.8M | $81.1M |
| Total liabilities and stockholders' equity | $168.7M | $160.3M | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 100.0M shares | 100.0M shares | |
| Common stock, issued shares (in shares) | 35.9M shares | 34.3M shares | |
| Common stock, outstanding shares (in shares) | 35.9M shares | 34.3M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.3
| Period ending | 2026-06-30 | 2025-06-30 |
|---|---|---|
| Net income (loss) | -$2.4M | $1.5M |
| Depletion, depreciation, and accretion | $22.8M | $22.0M |
| Stock-based compensation | $2.3M | $2.5M |
| Settlement of asset retirement obligations | -$246.0K | -$385.0K |
| Deferred income taxes | -$963.0K | -$468.0K |
| Unrealized (gain) loss on derivative contracts | -$902.0K | $492.0K |
| Accrued settlements on derivative contracts | $631.0K | -$251.0K |
| Amortization of debt issuance costs | $156.0K | |
| Other | $24.0K | -$8.0K |
| Receivables from crude oil, natural gas, and natural gas liquids revenues | $1.2M | $75.0K |
| Prepaid expenses and other current assets | $25.0K | $2.9M |
| Accounts payable and accrued liabilities and other | $918.0K | $4.8M |
| State and federal taxes payable | -$74.0K | |
| Net cash provided by operating activities | $23.5M | $33.1M |
| Acquisition of oil and natural gas properties | -$23.0M | -$9.0M |
| Proceeds from the sale of unproved oil and natural gas properties | $3.1M | |
| Capital expenditures for oil and natural gas properties | -$7.3M | -$12.6M |
| Net cash used in investing activities | -$27.2M | -$21.6M |
| Common stock dividends paid | -$16.9M | -$16.3M |
| Common stock repurchases, including stock surrendered for tax withholding | -$225.0K | -$442.0K |
| Borrowings under senior secured credit facility | $22.0M | $2.0M |
| Repayments of senior secured credit facility | -$3.0M | -$4.0M |
| Debt issuance costs | -$379.0K | -$90.0K |
| Issuance of common stock | $6.1M | $3.8M |
| Offering costs | -$236.0K | -$310.0K |
| Net cash provided by (used in) financing activities | $7.3M | -$15.3M |
| Net increase (decrease) in cash and cash equivalents | $3.6M | -$3.9M |
| Cash paid for interest on senior secured credit facility | $3.7M | $3.1M |
| Cash paid for income taxes | $1.4M | $874.0K |
| Cash refunded from income taxes | $884.0K | $1.0M |
| Increase (decrease) in accrued capital expenditures for oil and natural gas properties | -$1.9M | $79.0K |
| Oil and natural gas property costs attributable to the recognition of asset retirement obligations | $411.0K | $800.0K |
| Accrued debt issuance costs | $275.0K | |
| Accrued offering costs | $10.0K |
No quarter-by-quarter statement was filed.
Corporate structure
EVOLUTION PETROLEUM CORP sits at the top of its group. 12 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of EVOLUTION PETROLEUM CORP
- WealthTrust Axiom LLC Filed SCHEDULE 13G/A on EVOLUTION PETROLEUM CORP, latest Jan 2, 2026 (2 filings since Aug 15, 2024)
- BlackRock Filed SCHEDULE 13G/A on EVOLUTION PETROLEUM CORP, latest Apr 17, 2025 (4 filings since Feb 1, 2022)
- WASATCH ADVISORS LP Filed SC 13G/A on EVOLUTION PETROLEUM CORP, latest Apr 7, 2023 (3 filings since Feb 11, 2022)
- RENAISSANCE TECHNOLOGIES LLC Filed SC 13G/A on EVOLUTION PETROLEUM CORP, latest Feb 13, 2023 (2 filings since Feb 11, 2022)
- ArrowMark Colorado Holdings LLC Filed SC 13G/A on EVOLUTION PETROLEUM CORP, latest Feb 14, 2022
- EVOLUTION PETROLEUM CORP Houston, Texas, United States
- ARKLA Petroleum, LLC (Subsidiary of NGS Sub. Corp.) Subsidiary · Louisiana, United States
- EPM Chaveroo, LLC. Subsidiary · Delaware, United States
- Evolution Minerals, LLC Subsidiary · Delaware, United States
- Evolution Operating Co., Inc. Subsidiary · Texas, United States
- Evolution Petroleum OK, Inc. Subsidiary · Texas, United States
- Evolution Petroleum West, Inc. Subsidiary · Delaware, United States
- Evolution Royalties, Inc. Subsidiary · Delaware, United States
- NGS Resources, LLC (Subsidiary of NGS Technologies, Inc.) Subsidiary · Texas, United States
- NGS Sub Corp. Subsidiary · Delaware, United States
- NGS Technologies, Inc. Subsidiary · Delaware, United States
- Tertiaire Resources Company Subsidiary · Texas, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What EVOLUTION PETROLEUM CORP reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Operating-lease assets (leased space) | $414.0K3 Jun 30, 2026 | $58.0K3 Jun 30, 2025 | +613.8% |
| Oil and gas properties | $147.0M3 Jun 30, 2026 | $142.2M3 Jun 30, 2025 | +3.3% |
Investments
Properties, in its own words
Information regarding our properties is included in Item 1. Business above and in Note 4, “Property and Equipment” to our consolidated financial statements in Item 8. Consolidated Financial Statements and Supplementary Data, which information is incorporated herein by reference.
Item 2 of the 10-K filed Sep 16, 2026.6
Leadership
Who has led EVOLUTION PETROLEUM CORP, and when. Pick a name to see everywhere that person has worked.
Chair
Chief financial officer
2010201520202025
- Chief executive officerKelly William Loyd Nov 3, 2022 to now16
- Chief executive officerRandall D. Keys Feb 24, 2016 to Apr 27, 201817
- Chief executive officerRobert S. Herlin Feb 24, 2006 to Dec 7, 201518
- ChairRobert S. Herlin Feb 24, 2016 to Nov 15, 201619
- PresidentKelly William Loyd Nov 3, 2022 to now16
- PresidentRandall D. Keys Sep 2, 2014 to Apr 27, 201820
- PresidentRobert S. Herlin Sep 24, 2009 to Jun 11, 201421
- Chief financial officerRyan Stash Nov 30, 2020 to now22
- Chief financial officerDavid Joe Feb 12, 2016 to Dec 10, 201923
- Chief financial officerRandall D. Keys Feb 10, 2014 to Dec 7, 201524
- Chief financial officerSterling McDonald Feb 24, 2006 to Jan 28, 201425
Board members and other officers (14)
- Principal Accounting OfficerKelly Beatty Dec 14, 2022 to now26
- Vice President and C.A.O.Roderick A. Schultz Aug 4, 2021 to Jul 6, 202227
- VP, Chief Admin. OfficerDavid Joe Jan 10, 2014 to Dec 7, 201528
- Vice President of OperationsDaryl Mazzanti V. May 11, 2006 to Sep 23, 201529
- Board memberMyra C. Bierria Sep 19, 2022 to now30
- Board memberMarjorie Anne Hargrave Mar 4, 2021 to now31
- Board memberMarran H. Ogilvie Dec 11, 2017 to Dec 11, 201932
- Board memberScott Bedford Oct 5, 2009 to May 14, 201533
- Board memberKelly William Loyd Dec 17, 2008 to now34
- Board memberWilliam Dozier Jan 19, 2006 to now35
- Board memberRobert S. Herlin Feb 24, 2006 to now18
- Board memberEdward John Dipaolo May 17, 2006 to now36
- Board memberGene G. Stoever May 17, 2006 to Dec 11, 201737
- Board memberLaird Q. Cagan Jun 22, 2006 to Dec 2, 201338
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- ARKLA Petroleum, LLC (Subsidiary of NGS Sub. Corp.) Louisiana5
- EPM Chaveroo, LLC. Delaware5
- Evolution Minerals, LLC Delaware5
- Evolution Operating Co., Inc. Texas5
- Evolution Petroleum OK, Inc. Texas5
- Evolution Petroleum West, Inc. Delaware5
- Evolution Royalties, Inc. Delaware5
- NGS Resources, LLC (Subsidiary of NGS Technologies, Inc.) Texas5
- NGS Sub Corp. Delaware5
- NGS Technologies, Inc. Delaware5
- Tertiaire Resources Company Texas5
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
Timeline
- Sep 15, 20268-K Results of operations; Other events39
- Aug 21, 20268-K Regulation FD disclosure; Other events40
- Aug 20, 20268-K Entered a material agreement; Regulation FD disclosure41
- Aug 18, 20268-K Entered a material agreement; Regulation FD disclosure42
- May 12, 20268-K Results of operations; Other events43
- Feb 11, 20268-K Entered a material agreement44
- Feb 10, 20268-K Results of operations; Other events45
- Dec 9, 20258-K Shareholder vote46
- Nov 12, 20258-K Results of operations; Other events47
- Sep 16, 20258-K Results of operations; Other events48
- Aug 6, 20258-K Completed an acquisition or sale; Regulation FD disclosure49
- Jul 2, 20258-K Entered a material agreement; Other events50
- Nov 3, 2022New chief executive Kelly William Loyd becomes CEO16
- Feb 24, 2016New chief executive Randall D. Keys becomes CEO17
- Feb 24, 2006New chief executive Robert S. Herlin becomes CEO18
- Jan 23, 2002Founded EVOLUTION PETROLEUM CORP is founded2
Calendar
Coming up
- Nov 10, 2026Reports results for the quarter ending Sep/202651
When it reported results
- Sep 15, 2026Reported quarterly or annual results39
- May 12, 2026Reported quarterly or annual results43
- Feb 10, 2026Reported quarterly or annual results45
- Nov 12, 2025Reported quarterly or annual results47
- Sep 16, 2025Reported quarterly or annual results48
- May 13, 2025Reported quarterly or annual results52
- Feb 11, 2025Reported quarterly or annual results53
- Nov 12, 2024Reported quarterly or annual results54
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
199 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 50 major events, 94 insider forms, 12 large holders, 23 other. The latest 20:
- Sep 21, 20264 EDGAR
- Sep 21, 20264 EDGAR
- Sep 21, 20264 EDGAR
- Sep 21, 20264 EDGAR
- Sep 16, 202610-K EDGAR
- Sep 15, 20268-K EDGAR
- Sep 3, 20264 EDGAR
- Sep 3, 20264 EDGAR
- Sep 3, 20264 EDGAR
- Sep 3, 20264 EDGAR
- Aug 21, 20268-K EDGAR
- Aug 20, 20268-K EDGAR
- Aug 19, 2026424B5 EDGAR
- Aug 18, 2026424B5 EDGAR
- Aug 18, 20268-K EDGAR
- Jul 2, 20264 EDGAR
- Jul 2, 20264 EDGAR
- Jul 2, 20264 EDGAR
- Jul 2, 20264 EDGAR
- May 13, 202610-Q EDGAR
The 199 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
1 open-market trades by officers, directors and large owners since October 2021: 0 buys and 1 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Mar 24, 2022 | Stash RyanSVP & CFO | Sale | 4,870 | $5.54 | $27.0K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- WealthTrust Axiom LLCSCHEDULE 13G/A, 2 filings Aug 15, 2024 to Jan 2, 202655
- BlackRockSCHEDULE 13G/A, 4 filings Feb 1, 2022 to Apr 17, 202556
- WASATCH ADVISORS LPSC 13G/A, 3 filings Feb 11, 2022 to Apr 7, 202357
- RENAISSANCE TECHNOLOGIES LLCSC 13G/A, 2 filings Feb 11, 2022 to Feb 13, 202358
- ArrowMark Colorado Holdings LLCSC 13G/A, 1 filing Feb 14, 202259
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Kelly W. Loyd | $375.0K | $1.3M60 | |
| 2025 | J. Mark Bunch | $305.0K | $860.4K60 | |
| 2025 | Ryan Stash | $292.2K | $828.7K60 | |
| 2024 | President & Chief Executive Officer | $375.0K | $1.1M60 | |
| 2024 | Chief Operating Officer | $305.0K | $717.0K60 | |
| 2024 | Senior Vice PresidentChief Financial Officer & Treasurer | $299.2K | $697.3K60 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How EVOLUTION PETROLEUM CORP is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGAREVOLUTION PETROLEUM CORP1
- CIK0001006655
- Employer ID (EIN)41-17819916
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company6
- Incorporated inNevada6
- Fiscal year endsJune 301
- Industry code (SIC)1311 Crude Petroleum & Natural Gas1
- SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
- Business address1155 Dairy Ashford Road, Suite 425, Houston, TX 770791
- Phone713-935-01221
- Shares outstanding40,172,226 shares as of Sep 11, 20266
- Public float$110.7M as of Dec 31, 20256
- AuditorBaker Tilly US, LLP, Houston, Texas PCAOB ID 23; no auditor attestation of internal control over financial reporting6
- On EDGAR sinceMay 28, 19961
- Filings1,094 in all: 4 (477), 8-K (179), 10-Q (57), SC 13G/A (57), 10QSB (34), 3 (25), DEF 14A (24), CORRESP (23)1
All 52 form types
UPLOAD (22), 10-K (20), SC 13G (20), SC 13D/A (18), 8-K/A (14), 4/A (13), EFFECT (8), 10KSB (7), 424B5 (7), S-3 (7), S-8 (7), 3/A (5), 424B3 (5), S-3/A (5), 10KSB/A (4), 10KSB40 (4), NT 10-Q (4), SB-2/A (4), SC 13D (4), ARS (3), NT 10-K (3), PRE 14C (3), SC TO-I/A (3), 8-A12B (2), DEF 14C (2), DEFA14A (2), DEFR14A (2), FWP (2), REGDEX/A (2), SCHEDULE 13G/A (2), 10-K/A (1), 10QSB/A (1), 144 (1), 25-NSE (1), 5 (1), CERTAMX (1), CERTNYS (1), CT ORDER (1), POS AM (1), PRES14A (1), REGDEX (1), SB-2 (1), SC 14F1 (1), SC TO-I (1)
- Latest filingsAnnual report (10-K) Sep 16, 2026
Quarterly report (10-Q) May 13, 2026
Proxy statement (DEF 14A) Oct 23, 2025
Latest 8-K (8-K) Sep 15, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $0.001 par value | EPM | NYSE American |
From the cover page of the 10-K filed Sep 16, 2026 (Section 12(b) of the Exchange Act).6
Risk factors and legal proceedings
The risks EVOLUTION PETROLEUM CORP names in Item 1A of its 10-K filed Sep 16, 2026: 36 risks under these headings, as written.6
- Our business involves a high degree of risk. Our ownership interest in oil and natural gas properties consists of non-operated working, revenue, and/or royalty interests. We do not operate any of our oil and natural gas properties nor do we do have any employees or contractors in the field. Our risks associated with oil and natural gas operations affect us indirectly through our ownership in non-operated working interests where we proportionately share in the costs and liabilities of operating such properties.
- If any of the following risks, or any risk described elsewhere in this Annual Report on Form 10-K, actually occurs, our business, financial condition, or results of operations could suffer. The risks described below are not the only ones facing us. Additional risks not presently known to us or which we currently consider to be immaterial also may adversely affect us.
- A substantial or extended decline in oil, natural gas and NGL prices may adversely affect our business, financial condition, results of operations and our ability to meet our capital expenditure obligations and financial commitments.
- Our existing developed oil, natural gas and NGL production will decline; we may be unable to acquire or develop the additional oil and natural gas reserves that are required in order to sustain our production and business operations.
- The types of resources we focus on have substantial operational risks.
- We have limited control over the activities on our oil and natural gas properties which we do not operate.
- We will be subject to risks in connection with acquisitions.
- Our inability to complete acquisitions at our historical rate and at appropriate prices that support our long-term strategy could negatively impact our growth rate and stock price.
- We may encounter difficulties integrating newly acquired oil and natural gas properties or businesses.
- Oil and natural gas development, re-completion of wells from one reservoir to another reservoir, restoring wells to production, and drilling and completing new wells are speculative activities which involve numerous risks and substantial uncertain costs.
- Our oil and natural gas reserves are only estimates and may prove to be inaccurate.
- Regulatory and accounting requirements may require substantial reductions in reporting proven reserves.
The other 24 risks
- Our derivative activities could result in financial losses or could reduce our income.
- Operations to develop and produce oil and natural gas reserves and our growth plans require significant amounts of capital and our ability to access additional capital at acceptable costs is important if we are to fund our development, grow our reserves and production and execute our growth plans.
- Government regulation and liability for oil and natural gas operations and environmental matters may adversely affect our business and results of operations.
- The risks arising out of the threat of climate change, including transition risks and physical risks, may adversely affect our business and results of operations.
- Poor general economic, business, or industry conditions may have a material adverse effect on our results of operations, liquidity, financial condition and access to capital.
- Events outside of our control, including a pandemic or broad outbreak of an infectious disease, such as the global outbreak of a novel strain of the coronavirus (“COVID-19”), may materially adversely affect our business.
- Our business could be negatively affected by security threats. A cyber-attack or similar incident could occur and result in information theft, data corruption, operational disruption, damage to our reputation, and/or financial loss.
- Our insurance may not protect us against all of the operating risks to which our business is exposed.
- The loss of key personnel could adversely affect us.
- Oilfield service and materials prices may increase, and the availability of such services and materials may be inadequate to meet our needs.
- We may assume risks and financial responsibility for drilling and completing wells at our Chaveroo Field and Williston Basin properties if our third-party operator declines to drill wells and it or other joint interest owners elect not to participate.
- We cannot market the oil and natural gas that we produce without the assistance of third parties.
- We face strong competition from larger oil and natural gas companies.
- We have been, and in the future may become, involved in legal proceedings related to our properties or operations and, as a result, may incur substantial costs in connection with those proceedings.
- Ownership of our oil and natural gas production and mineral rights depends on good title to our property.
- Unanticipated changes in effective tax rates or laws or adverse outcomes resulting from examination of our income or other tax returns could adversely affect our financial condition and results of operations.
- Risks Associated with our Common Stock
- Our stock price has been and may continue to be volatile.
- Significant ownership of our common stock is concentrated in a small number of shareholders who may be able to affect the outcome of the election of our directors and all other matters submitted to our stockholders for approval.
- The market for our common stock is limited and may not provide adequate liquidity.
- If securities or industry analysts do not publish research reports about our business, or if they downgrade our stock, the price of our common stock could decline.
- Our stated objective of returning cash to shareholders is subject to our ability to generate sufficient cash flows to pay dividends on our common stock and to repurchase shares of our common stock, as applicable, and we have, in the past, and may in the future, reduce or eliminate dividend payments and stock repurchases.
- There may be future sales or issuances of our common stock, which will dilute the ownership interests of stockholders and may adversely affect the market price of our common stock.
- Non-U.S. holders may be subject to U.S. income tax and withholding tax with respect to gain on disposition of the Company’s common stock.
- Investor sentiment towards climate change, fossil fuels, sustainability, and other ESG matters could adversely affect our business and our stock price.
Legal proceedings
See Note 10, “Commitments and Contingencies” to our consolidated financial statements in Item 8. Consolidated Financial Statements and Supplementary Data for a description of any legal proceedings, which is incorporated herein by reference.
The opening of Item 3, Legal Proceedings.6
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15
- 16
- 17
- 18
- 19SEC EDGARRobert S. Herlin, Chair
- 20SEC EDGARRandall D. Keys, President
- 21SEC EDGARRobert S. Herlin, President
- 22SEC EDGARRyan Stash, Chief financial officer
- 23SEC EDGARDavid Joe, Chief financial officer
- 24
- 25
- 26
- 27
- 28SEC EDGARDavid Joe, VP, Chief Admin. Officer
- 29
- 30SEC EDGARMyra C. Bierria, Board member
- 31SEC EDGARMarjorie Anne Hargrave, Board member
- 32SEC EDGARMarran H. Ogilvie, Board member
- 33SEC EDGARScott Bedford, Board member
- 34SEC EDGARKelly William Loyd, Board member
- 35SEC EDGARWilliam Dozier, Board member
- 36SEC EDGAREdward John Dipaolo, Board member
- 37SEC EDGARGene G. Stoever, Board member
- 38SEC EDGARLaird Q. Cagan, Board member
- 39SEC EDGARResults of operations; Other events
- 40
- 41
- 42
- 43SEC EDGARResults of operations; Other events
- 44SEC EDGAREntered a material agreement
- 45SEC EDGARResults of operations; Other events
- 46SEC EDGARShareholder vote
- 47SEC EDGARResults of operations; Other events
- 48SEC EDGARResults of operations; Other events
- 49
- 50
- 51NasdaqNasdaq calendar
- 52
- 53
- 54
- 55
- 56
- 57
- 58
- 59
- 60