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Evolution Petroleum's Business Segments
Evolution Petroleum's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of FY
Reportable Segments
3
Largest Segment
Crude oil
Total Revenue
$ 20
Regions Reported
-
Revenue Share by Reportable Segment - FY
- Crude oil51.9%
- Natural gas36.1%
- Natural gas liquids11.9%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Crude oil | $ 10 | 51.9% |
| Natural gas | $ 7 | 36.1% |
| Natural gas liquids | $ 2 | 11.9% |
Revenue by Product & Service Category - FY
- Crude oil51.9%
- Natural Gas Reserves36.1%
- Natural Gas Liquids Reserves11.9%
Revenue by Product & Service Category - FY
| Category | Revenue (Millions) | % of Total |
|---|---|---|
| Crude oil | $ 10 | 51.9% |
| Natural Gas Reserves | $ 7 | 36.1% |
| Natural Gas Liquids Reserves | $ 2 | 11.9% |
Product and service categories are a supplemental disclosure and are not required to sum to consolidated revenue or to the reportable segments above.
Annual Results
Revenue Share by Reportable Segment - FY
- Crude oil51.9%
- Natural gas36.1%
- Natural gas liquids11.9%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Crude oil | $ 10 | 51.9% |
| Natural gas | $ 7 | 36.1% |
| Natural gas liquids | $ 2 | 11.9% |
Description of Evolution Petroleum
We are an independent oil and gas company engaged primarily in the acquisition,
exploitation and development of properties for the production of crude oil and
natural gas, onshore in the United States. Our goal is to acquire known crude
oil and natural gas resources and exploit them through the application of conventional
and specialized technology, with the objective of increasing production, ultimate
recoveries, or both.
Evolution Petroleum Corporation is primarily engaged in the acquisition, development, and production of oil and natural gas properties in the United States. The company has carved out a niche in more mature oil fields, focusing on enhancing recovery in assets that may have been overlooked by other operators. Below is an extensive breakdown of the segments, products, and services offered by the company:
1. Oil & Gas Exploration and Production
Evolution Petroleum Corporations core business lies in the exploration and production of hydrocarbons. The company specializes in enhancing existing oil and gas production through advanced recovery techniques, particularly in aging fields.
- Properties: The companys asset portfolio includes significant interests in several key areas, particularly in Louisianas Patuxent and the New Mexico Permian Basin. These regions are known for their established production histories and potential for enhanced recovery operations.
- Enhanced Oil Recovery (EOR): Evolution employs advanced recovery techniques to extract additional resources from established oil fields. Enhanced oil recovery methods can include gas injection, water flooding, and chemical injection processes designed to increase the overall recovery rates from reservoirs.
Production Optimization
In addition to exploring and producing oil and gas, Evolution Petroleum focuses on optimizing production from its existing wells. This involves employing technologies and methodologies to maximize output, including:
- Well Stimulation: Implementing hydraulic fracturing, acidizing, and other well stimulation techniques to enhance production rates from existing wells.
- Reservoir Management: Utilizing sophisticated modeling and monitoring tools to understand reservoir performance and implement strategies for maximizing output.
Acquisitions and Joint Ventures
Evolution Petroleum is actively involved in identifying and acquiring interests in properties that complement its existing portfolio. This may include:
- Acquisition Strategies: Targeting underexplored or partially developed fields with known reserves, allowing the company to leverage its expertise in EOR.
- Partnerships and Joint Ventures: Collaborating with other exploration and production companies to share risks and capitalize on complementary strengths.
Financial Services
As part of its business operations, the company also engages in financial management practices associated with its exploration and production activities, which may include:
- Risk Management: Utilizing financial instruments to hedge against oil and gas price volatility, thus protecting revenue streams and cash flow stability.
- Investment and Project Financing: Securing financing for capital-intensive projects, exploring both equity and debt financing options to fund exploration and development activities.
Environmental, Social, and Governance (ESG) Practices
Evolution Petroleum recognizes the importance of sustainable practices within the oil and gas industry. The company may engage in various initiatives to ensure compliance with environmental regulations and social responsibility, including:
- Environmental Stewardship: Implementing practices that minimize the impact of drilling and production on local ecosystems.
- Community Engagement: Fostering positive relationships with local communities through outreach and education programs that inform stakeholders about company operations and environmental practices.
Research and Development
Investment in research and technology plays a critical role in Evolution Petroleums strategy to enhance productivity and sustainability. This can encompass:
- Adoption of New Technologies: Investing in cutting-edge technologies for exploration, production, and environmental monitoring to improve operational efficiency.
- Collaboration with Research Institutions: Partnering with academic and research organizations for the development of innovative recovery techniques and sustainability practices.
Conclusion
Evolution Petroleum Corporation is strategically positioned within the oil and gas sector, leveraging its expertise in production optimization, enhanced recovery techniques, and proactive acquisition strategies. The company maintains a focus on integrating environmental considerations into its operations while aiming to deliver value to shareholders through responsible and sustainable production methods.
1. Oil & Gas Exploration and Production
Evolution Petroleum Corporations core business lies in the exploration and production of hydrocarbons. The company specializes in enhancing existing oil and gas production through advanced recovery techniques, particularly in aging fields.
- Properties: The companys asset portfolio includes significant interests in several key areas, particularly in Louisianas Patuxent and the New Mexico Permian Basin. These regions are known for their established production histories and potential for enhanced recovery operations.
- Enhanced Oil Recovery (EOR): Evolution employs advanced recovery techniques to extract additional resources from established oil fields. Enhanced oil recovery methods can include gas injection, water flooding, and chemical injection processes designed to increase the overall recovery rates from reservoirs.
Production Optimization
In addition to exploring and producing oil and gas, Evolution Petroleum focuses on optimizing production from its existing wells. This involves employing technologies and methodologies to maximize output, including:
- Well Stimulation: Implementing hydraulic fracturing, acidizing, and other well stimulation techniques to enhance production rates from existing wells.
- Reservoir Management: Utilizing sophisticated modeling and monitoring tools to understand reservoir performance and implement strategies for maximizing output.
Acquisitions and Joint Ventures
Evolution Petroleum is actively involved in identifying and acquiring interests in properties that complement its existing portfolio. This may include:
- Acquisition Strategies: Targeting underexplored or partially developed fields with known reserves, allowing the company to leverage its expertise in EOR.
- Partnerships and Joint Ventures: Collaborating with other exploration and production companies to share risks and capitalize on complementary strengths.
Financial Services
As part of its business operations, the company also engages in financial management practices associated with its exploration and production activities, which may include:
- Risk Management: Utilizing financial instruments to hedge against oil and gas price volatility, thus protecting revenue streams and cash flow stability.
- Investment and Project Financing: Securing financing for capital-intensive projects, exploring both equity and debt financing options to fund exploration and development activities.
Environmental, Social, and Governance (ESG) Practices
Evolution Petroleum recognizes the importance of sustainable practices within the oil and gas industry. The company may engage in various initiatives to ensure compliance with environmental regulations and social responsibility, including:
- Environmental Stewardship: Implementing practices that minimize the impact of drilling and production on local ecosystems.
- Community Engagement: Fostering positive relationships with local communities through outreach and education programs that inform stakeholders about company operations and environmental practices.
Research and Development
Investment in research and technology plays a critical role in Evolution Petroleums strategy to enhance productivity and sustainability. This can encompass:
- Adoption of New Technologies: Investing in cutting-edge technologies for exploration, production, and environmental monitoring to improve operational efficiency.
- Collaboration with Research Institutions: Partnering with academic and research organizations for the development of innovative recovery techniques and sustainability practices.
Conclusion
Evolution Petroleum Corporation is strategically positioned within the oil and gas sector, leveraging its expertise in production optimization, enhanced recovery techniques, and proactive acquisition strategies. The company maintains a focus on integrating environmental considerations into its operations while aiming to deliver value to shareholders through responsible and sustainable production methods.