Evolution Petroleum Announces Acquisition of Non-operated Oil and Gas Assets
Evolution expects to fund the acquisition with cash on hand and borrowings from EPM’s revolving credit facility.
- Evolution expects to fund the acquisition with cash on hand and borrowings from EPM’s revolving credit facility.
- Production of approximately 1,550 barrels of oil equivalent per day (“BOEPD”) and commodity mix of 42% oil, 15% natural gas liquids, and 43% natural gas as of the effective date.
- This is a significant achievement for our Company and demonstrates our ability to successfully procure high-quality assets in a core basin with best-in-class operating parties.
- Evolution plans to post a presentation highlighting additional details of the Acquisitions on the Company's website this evening: www.evolutionpetroleum.com .