$EPM
EVOLUTION PETROLEUM CORP

2022 Q3 Form 10-K Financial Statement

#000155837022014404 Filed on September 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022
Revenue $39.80M $42.02M $108.9M
YoY Change 110.8% 206.64% 233.08%
Cost Of Revenue $19.12M $17.28M $48.66M
YoY Change 121.63% 128.02% 193.34%
Gross Profit $20.68M $24.74M $60.27M
YoY Change 101.69% 303.9% 273.99%
Gross Profit Margin 51.97% 58.88% 55.33%
Selling, General & Admin $2.472M $1.557M $6.835M
YoY Change 27.43% -13.45% 1.19%
% of Gross Profit 11.95% 6.29% 11.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.598M $3.564M $8.053M
YoY Change 135.5% 226921.66% 55.87%
% of Gross Profit 17.4% 14.41% 13.36%
Operating Expenses $6.070M $5.121M $14.89M
YoY Change 75.04% 63.86% -72.46%
Operating Profit $14.61M $19.62M $45.38M
YoY Change 115.31% 553.89% -312.47%
Interest Expense $243.0K -$1.389M $572.0K
YoY Change 380.12% 3545.71% 455.53%
% of Operating Profit 1.66% -7.08% 1.26%
Other Income/Expense, Net
YoY Change
Pretax Income $13.77M $18.23M $41.14M
YoY Change 104.38% 515.42% -292.05%
Income Tax $3.100M $3.361M $8.513M
% Of Pretax Income 22.51% 18.44% 20.69%
Net Earnings $10.71M $14.87M $32.63M
YoY Change 105.18% 571.04% -298.49%
Net Earnings / Revenue 26.9% 35.39% 29.95%
Basic Earnings Per Share $0.32 $0.97
Diluted Earnings Per Share $0.32 $444.6K $0.96
COMMON SHARES
Basic Shares Outstanding 33.47M 33.74M shares 32.95M
Diluted Shares Outstanding 33.32M 33.31M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.71M $8.280M $8.280M
YoY Change 34.68% 56.92% 56.92%
Cash & Equivalents $10.71M $8.280M $8.280M
Short-Term Investments
Other Short-Term Assets $1.937M $3.661M $3.661M
YoY Change 108.6% 252.95% 252.95%
Inventory
Prepaid Expenses
Receivables $18.85M $24.08M $24.08M
Other Receivables $347.0K $347.0K $347.0K
Total Short-Term Assets $31.84M $36.37M $36.37M
YoY Change 12.54% 100.84% 100.84%
LONG-TERM ASSETS
Property, Plant & Equipment $108.2M $110.5M $110.5M
YoY Change 88.58% 88.82% 88.62%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.159M $1.171M $1.150M
YoY Change 1554.21%
Total Long-Term Assets $109.4M $111.7M $111.7M
YoY Change 90.39% 90.59% 90.59%
TOTAL ASSETS
Total Short-Term Assets $31.84M $36.37M $36.37M
Total Long-Term Assets $109.4M $111.7M $111.7M
Total Assets $141.2M $148.0M $148.0M
YoY Change 64.7% 93.01% 93.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.04M $15.13M $15.13M
YoY Change -3.47% 169.78% 169.78%
Accrued Expenses $10.70M $11.89M $12.97M
YoY Change 363.34% 1155.8% 1278.97%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $25.34M $30.29M $30.29M
YoY Change 98.95% 359.27% 359.27%
LONG-TERM LIABILITIES
Long-Term Debt $12.25M $21.25M $21.25M
YoY Change 206.25% 431.25% 431.25%
Other Long-Term Liabilities $14.18M $13.90M $13.90M
YoY Change 149.9% 150.0% 150.0%
Total Long-Term Liabilities $26.43M $35.15M $35.15M
YoY Change 173.2% 267.69% 267.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.34M $30.29M $30.29M
Total Long-Term Liabilities $26.43M $35.15M $35.15M
Total Liabilities $58.83M $72.53M $72.53M
YoY Change 108.26% 228.04% 228.04%
SHAREHOLDERS EQUITY
Retained Earnings $39.53M $32.85M
YoY Change 168.64% 173.31%
Common Stock $33.00K $33.00K
YoY Change -1.88% -1.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $82.38M $75.51M $75.51M
YoY Change
Total Liabilities & Shareholders Equity $141.2M $148.0M $148.0M
YoY Change 64.7% 93.01% 93.01%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022
OPERATING ACTIVITIES
Net Income $10.71M $14.87M $32.63M
YoY Change 105.18% 571.04% -298.49%
Depreciation, Depletion And Amortization $3.598M $3.564M $8.053M
YoY Change 135.5% 226921.66% 55.87%
Cash From Operating Activities $17.37M $23.77M $52.46M
YoY Change 210.49% 993.6% 1008.43%
INVESTING ACTIVITIES
Capital Expenditures -$1.879M -$28.20M -$54.87M
YoY Change 381.34% 51.75% 192.35%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.879M -$26.73M -$54.87M
YoY Change 381.34% 64.4% 192.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $38.00K
YoY Change 417.22%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -13.05M -2.125M 5.416M
YoY Change 417.11% -191.42% -1649.96%
NET CHANGE
Cash From Operating Activities 17.37M 23.77M 52.46M
Cash From Investing Activities -1.879M -26.73M -54.87M
Cash From Financing Activities -13.05M -2.125M 5.416M
Net Change In Cash 2.434M -5.089M 3.003M
YoY Change -9.12% -56.74% -120.87%
FREE CASH FLOW
Cash From Operating Activities $17.37M $23.77M $52.46M
Capital Expenditures -$1.879M -$28.20M -$54.87M
Free Cash Flow $19.24M $51.97M $107.3M
YoY Change 221.64% 150.36% 356.69%

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3223000
CY2021 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
142000
CY2022 epm Increase Decreasein Accounts Payable Usedto Acquire Propertyand Equipment
IncreaseDecreaseinAccountsPayableUsedtoAcquirePropertyandEquipment
1094000
CY2021 epm Increase Decreasein Accounts Payable Usedto Acquire Propertyand Equipment
IncreaseDecreaseinAccountsPayableUsedtoAcquirePropertyandEquipment
-80000
CY2022 epm Oil And Natural Gas Properties Incurred Through Recognition Of Asset Retirement Obligations
OilAndNaturalGasPropertiesIncurredThroughRecognitionOfAssetRetirementObligations
7807000
CY2021 epm Oil And Natural Gas Properties Incurred Through Recognition Of Asset Retirement Obligations
OilAndNaturalGasPropertiesIncurredThroughRecognitionOfAssetRetirementObligations
2883000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
74124000
CY2021 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
7000
CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1258000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-16438000
CY2021 us-gaap Dividends Common Stock
DividendsCommonStock
4342000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
54595000
CY2022 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
38000
CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
125000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
32628000
CY2022 us-gaap Dividends Common Stock
DividendsCommonStock
11796000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
75514000
CY2022Q2 epm Number Of Wells With Overriding Royalty Interest
NumberOfWellsWithOverridingRoyaltyInterest
4
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates. </span>  The preparation of financial statements in conformity with accounting principles generally acceptable in the United States requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities, if any, at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the respective reporting periods. Significant estimates include (a) reserve quantities and estimated future cash flows associated with proved reserves, which may significantly impact depletion expense and potential impairments of oil and natural gas properties, (b) asset retirement obligations, (c) stock-based compensation, (d) fair values of derivative assets and liabilities, (e) income taxes and the valuation of deferred tax assets, (f) commitments and contingencies, and (g) accruals of crude oil, natural gas, and natural gas liquids (“NGL”) revenues and expenses. The Company analyzes estimates and judgements based on historical experience and various other assumptions and information that are believed to be reasonable. Estimates and assumptions about future events and their effects cannot be predicted with certainty and, accordingly, these estimates may change as additional information is obtained, as new events occur, and as the Company’s environment changes. Actual results may differ from the estimates and assumptions used in the preparation of the Company’s consolidated financial statements.</p>
CY2022Q2 us-gaap Oil And Gas Property Full Cost Method Depletion
OilAndGasPropertyFullCostMethodDepletion
78126000
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2021Q2 us-gaap Oil And Gas Property Full Cost Method Depletion
OilAndGasPropertyFullCostMethodDepletion
70607000
CY2022Q2 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
110508000
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Concentrations of Credit Risk.</span> The Company’s primary concentrations of credit risk are the risks of uncollectible accounts receivable, and to a lesser extent, the non-performance by counterparties under the Company’s derivative contracts, and cash and cash equivalent balances in excess of limits federally insured by the Federal Deposit Insurance Corporation.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Substantially all of the Company’s accounts receivable as of June 30, 2022 is from crude oil, natural gas, and NGL sales to third-party purchasers in the oil and natural gas industry. The Company holds working interests in crude oil and natural gas properties for which a third-party serves as operator. As a non-operator, the Company primarily markets its production through its field operators, except at the Jonah Field, where the Company takes its natural gas and NGL production in-kind. As a non-operator, the Company is highly dependent on the success of its third-party operators and the decisions made in connection with their operations. The third-party operator sells the crude oil, natural gas, and NGLs to the purchaser, collects the cash, and distributes the cash to the Company. In the years ended June 30, 2022 and 2021, three operators each distributed over 10% of the Company’s crude oil, natural gas and natural gas liquids revenues making up approximately 83% and 100% of total revenues for the years, respectively. The majority of the Company’s crude oil, natural gas, and NGL production is sold to purchasers under short-term (less than 12 months) contracts at market-based prices. </p>
CY2021 us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
-16503000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32744000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32744000
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.50
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.50
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
108926000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
32702000
CY2022Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q2 us-gaap Oil And Gas Property Full Cost Method Net
OilAndGasPropertyFullCostMethodNet
58516000
CY2022Q2 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
148000
CY2021 epm Changes In Earning Per Share Basic
ChangesInEarningPerShareBasic
0.01
CY2022 epm Lessee Finance Lease Or Short Term Lease Number Of Contracts
LesseeFinanceLeaseOrShortTermLeaseNumberOfContracts
0
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
52000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
52000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
62000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
60000
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
21000
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
71000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
26000
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
64000
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
21000
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y5M1D
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y4M2D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0515
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0515
CY2021Q2 us-gaap Property Plant And Equipment Other
PropertyPlantAndEquipmentOther
155000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
26000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
26000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
26000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
26000
CY2021Q4 us-gaap Proceeds From Royalties Received
ProceedsFromRoyaltiesReceived
1100000
CY2021Q4 epm Royalty Accumulation Periods
RoyaltyAccumulationPeriods
P3Y
CY2022Q2 us-gaap Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
188634000
CY2021Q2 us-gaap Oil And Gas Property Full Cost Method Gross
OilAndGasPropertyFullCostMethodGross
129123000
CY2022Q2 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
148000
CY2021Q2 us-gaap Property Plant And Equipment Other Accumulated Depreciation
PropertyPlantAndEquipmentOtherAccumulatedDepreciation
144000
CY2021Q2 us-gaap Property Plant And Equipment Other Net
PropertyPlantAndEquipmentOtherNet
11000
CY2022 us-gaap Depletion
Depletion
7500000
CY2021 us-gaap Depletion
Depletion
4900000
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2600000
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
600000
CY2022 epm Proceed Of Net Revenue From Assets Under Acquisitions
ProceedOfNetRevenueFromAssetsUnderAcquisitions
900000
CY2022 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
0
CY2020Q4 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
15200000
CY2020Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
9600000
CY2021 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
24800000
CY2016Q2 epm Debt Instrument Covenant Minimum Current Ratio
DebtInstrumentCovenantMinimumCurrentRatio
1.00
CY2022Q1 epm Percentage Of Production Hedged
PercentageOfProductionHedged
0.25
CY2021Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2022Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
6309000
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-334000
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1062000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
454000
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
7371000
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
120000
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
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913000
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-3987000
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
229000
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-1117000
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1142000
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-5104000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8513000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4984000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8500000
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.207
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-5000000.0
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.233
CY2020 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
2800000
CY2022 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
400000
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
8640000
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-4499000
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 epm Return To Provision Adjustments
ReturnToProvisionAdjustments
2000
CY2021 epm Return To Provision Adjustments
ReturnToProvisionAdjustments
20000
CY2021 epm Return To Provision Adjustments Percent
ReturnToProvisionAdjustmentsPercent
-0.001
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Depletion
IncomeTaxReconciliationNondeductibleExpenseDepletion
-190000
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Depletion
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepletion
-0.005
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Depletion
IncomeTaxReconciliationNondeductibleExpenseDepletion
-176000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Depletion
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseDepletion
0.008
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1020000
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.025
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-523000
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.024
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
-3000
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
55000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.003
CY2022 epm Effective Income Tax Rate Reconciliation Federal Expiration Of Section382 Nol Amount
EffectiveIncomeTaxRateReconciliationFederalExpirationOfSection382NOLAmount
-623000
CY2022 epm Effective Income Tax Rate Reconciliationat Federal Expiration Of Section382 Nol Percent
EffectiveIncomeTaxRateReconciliationatFederalExpirationOfSection382NOLPercent
-0.015
CY2021 epm Effective Income Tax Rate Reconciliation Federal Expiration Of Section382 Nol Amount
EffectiveIncomeTaxRateReconciliationFederalExpirationOfSection382NOLAmount
570000
CY2021 epm Effective Income Tax Rate Reconciliationat Federal Expiration Of Section382 Nol Percent
EffectiveIncomeTaxRateReconciliationatFederalExpirationOfSection382NOLPercent
-0.027
CY2022 epm Effective Income Tax Rate Reconciliation Federal Enhanced Oil Recovery Credit
EffectiveIncomeTaxRateReconciliationFederalEnhancedOilRecoveryCredit
377000
CY2022 epm Effective Income Tax Rate Reconciliation Federal Enhanced Oil Recovery Credits
EffectiveIncomeTaxRateReconciliationFederalEnhancedOilRecoveryCredits
-0.009
CY2021 epm Effective Income Tax Rate Reconciliation Federal Enhanced Oil Recovery Credit
EffectiveIncomeTaxRateReconciliationFederalEnhancedOilRecoveryCredit
336000
CY2021 epm Effective Income Tax Rate Reconciliation Federal Enhanced Oil Recovery Credits
EffectiveIncomeTaxRateReconciliationFederalEnhancedOilRecoveryCredits
0.016
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
44000
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.001
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-95000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.006
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8513000
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.207
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4984000
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.233
CY2022Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
106000
CY2021Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
310000
CY2022Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
8000
CY2021Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
365000
CY2022Q2 us-gaap Deferred Tax Assets Derivative Instruments
DeferredTaxAssetsDerivativeInstruments
427000
CY2022Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Asset Retirement Obligations
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAssetRetirementObligations
3128000
CY2021Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Asset Retirement Obligations
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAssetRetirementObligations
1285000
CY2022Q2 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
238000
CY2021Q2 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
161000
CY2022Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
3907000
CY2021Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
2121000
CY2021Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
862000
CY2022Q2 us-gaap Deferred Tax Assets Net
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3907000
CY2021Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
1259000
CY2022Q2 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
11006000
CY2021Q2 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
7216000
CY2022Q2 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
11006000
CY2021Q2 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
7216000
CY2022Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
7099000
CY2021Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
5957000
CY2022Q2 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
100000
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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-600000
CY2022 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-1769000
CY2021 us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-2526000
CY2022 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-1994000
CY2021 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
1911000
CY2022 us-gaap Gain Loss On Derivative Instruments Net Pretax
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-3763000
CY2021 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-615000
CY2022 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
219000
CY2022 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
17000
CY2021 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
99000
CY2022 epm Asset Retirement Obligation Liabilities Acquired
AssetRetirementObligationLiabilitiesAcquired
5400000
CY2021 epm Asset Retirement Obligation Liabilities Acquired
AssetRetirementObligationLiabilitiesAcquired
2806000
CY2022 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
531000
CY2021 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
210000
CY2022Q2 us-gaap Derivative Assets
DerivativeAssets
170000
CY2021Q2 us-gaap Derivative Assets
DerivativeAssets
0
CY2022Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
2164000
CY2021Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
0
CY2022Q2 epm Derivative Fair Value Of Derivative Asset Not Offset Against Derivative Assets
DerivativeFairValueOfDerivativeAssetNotOffsetAgainstDerivativeAssets
170000
CY2021Q2 epm Derivative Fair Value Of Derivative Asset Not Offset Against Derivative Assets
DerivativeFairValueOfDerivativeAssetNotOffsetAgainstDerivativeAssets
0
CY2022Q2 epm Derivative Fair Value Of Derivative Liability Not Offset Against Derivative Liabilities
DerivativeFairValueOfDerivativeLiabilityNotOffsetAgainstDerivativeLiabilities
170000
CY2021Q2 epm Derivative Fair Value Of Derivative Liability Not Offset Against Derivative Liabilities
DerivativeFairValueOfDerivativeLiabilityNotOffsetAgainstDerivativeLiabilities
0
CY2022Q2 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
0
CY2021Q2 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
0
CY2022Q2 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
1994000
CY2021Q2 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
0
CY2022Q2 us-gaap Derivative Assets
DerivativeAssets
170000
CY2022Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
2164000
CY2021Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
5583000
CY2020Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
2589000
CY2022 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
2205000
CY2021 us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
77000
CY2022Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
13921000
CY2021Q2 us-gaap Asset Retirement Obligation
AssetRetirementObligation
5583000
CY2022Q2 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
22000
CY2021Q2 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
44000
CY2022Q2 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
13899000
CY2021Q2 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
5539000
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
33470710
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
86300000
CY2022 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
11800000
CY2021 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
4300000
CY2022Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.100
CY2021Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.050
CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.100
CY2021Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.030
CY2021Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.075
CY2020Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.025
CY2021Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.075
CY2020Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.025
CY2022Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.10
CY2022 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
7000
CY2021 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
3000
CY2022 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
5.09
CY2021 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
2.79
CY2022 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
38000
CY2021 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
7000
CY2022 epm Share Based Payment Arrangement Expense Reduction
ShareBasedPaymentArrangementExpenseReduction
1200000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
400000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
700000
CY2021Q2 us-gaap Other Assets
OtherAssets
71000
CY2022Q2 epm Accrued Payables
AccruedPayables
8070000
CY2021Q2 epm Accrued Payables
AccruedPayables
3996000
CY2022Q2 us-gaap Other Employee Related Liabilities Current
OtherEmployeeRelatedLiabilitiesCurrent
626000
CY2021Q2 us-gaap Other Employee Related Liabilities Current
OtherEmployeeRelatedLiabilitiesCurrent
631000
CY2022Q2 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
1517000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
341211
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
4.54
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
1500000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
600000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
32628000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-16438000
CY2022 epm Distributed And Undistributed Earnings Loss Allocated To Participating Securities
DistributedAndUndistributedEarningsLossAllocatedToParticipatingSecurities
673000
CY2021 epm Distributed And Undistributed Earnings Loss Allocated To Participating Securities
DistributedAndUndistributedEarningsLossAllocatedToParticipatingSecurities
65000
CY2022 us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
31955000
CY2021 us-gaap Undistributed Earnings Loss Available To Common Shareholders Basic
UndistributedEarningsLossAvailableToCommonShareholdersBasic
-16503000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32952000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
32744000
CY2022 epm Incremental Common Shares Attributable To Dilutive Effect Of Unvested Restricted Stock
IncrementalCommonSharesAttributableToDilutiveEffectOfUnvestedRestrictedStock
354000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33306000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32744000
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.97
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.50
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.96
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.50
CY2022Q2 epm Acquisition Settlement Proceeds Receivable Current
AcquisitionSettlementProceedsReceivableCurrent
2263000
CY2022Q2 us-gaap Prepaid Insurance
PrepaidInsurance
743000
CY2021Q2 us-gaap Prepaid Insurance
PrepaidInsurance
366000
CY2022Q2 us-gaap Prepaid Taxes
PrepaidTaxes
8000
CY2021Q2 us-gaap Prepaid Taxes
PrepaidTaxes
97000
CY2022Q2 epm Prepaid Subscription And Licenses
PrepaidSubscriptionAndLicenses
38000
CY2021Q2 epm Prepaid Subscription And Licenses
PrepaidSubscriptionAndLicenses
108000
CY2022Q2 epm Carryback Of Eor Tax Credit
CarrybackOfEorTaxCredit
347000
CY2021Q2 epm Carryback Of Eor Tax Credit
CarrybackOfEorTaxCredit
416000
CY2022Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
439000
CY2021Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
49000
CY2022Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3838000
CY2021Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1036000
CY2022Q2 epm Acquisition Deposit
AcquisitionDeposit
1150000
CY2022Q2 epm Operating Lease Right Of Use Asset Before Accumulated Amortization
OperatingLeaseRightOfUseAssetBeforeAccumulatedAmortization
161000
CY2021Q2 epm Operating Lease Right Of Use Asset Before Accumulated Amortization
OperatingLeaseRightOfUseAssetBeforeAccumulatedAmortization
161000
CY2022Q2 epm Operating Lease Right Of Use Asset Accumulated Amortization Expense
OperatingLeaseRightOfUseAssetAccumulatedAmortizationExpense
140000
CY2021Q2 epm Operating Lease Right Of Use Asset Accumulated Amortization Expense
OperatingLeaseRightOfUseAssetAccumulatedAmortizationExpense
90000
CY2022Q2 us-gaap Other Assets
OtherAssets
1171000
CY2022Q2 epm Accrued Severance Cost
AccruedSeveranceCost
332000
CY2021Q2 epm Accrued Severance Cost
AccruedSeveranceCost
53000
CY2022Q2 epm Accrued Franchise Taxes
AccruedFranchiseTaxes
58000
CY2021Q2 epm Accrued Franchise Taxes
AccruedFranchiseTaxes
35000
CY2022Q2 epm Accrued Ad Valorem Taxes
AccruedAdValoremTaxes
120000
CY2021Q2 epm Accrued Ad Valorem Taxes
AccruedAdValoremTaxes
108000
CY2022Q2 epm Accrued Derivative Liability Current
AccruedDerivativeLiabilityCurrent
919000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
26000
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
64000
CY2022Q2 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
22000
CY2021Q2 us-gaap Asset Retirement Obligation Current
AssetRetirementObligationCurrent
44000
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
203000
CY2021Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
12000
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
11893000
CY2021Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4943000

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