EnerCom Dallas presenter Evolution Petroleum Corporation (ticker: EPM) provided updated operating results for its Delhi field. Gross oil production for the quarter ended December 31, 2017 averaged almost 7,400 BOPD, up from approximately 6,900 BOPD in the prior quarter.
Field production recovered from lower levels seen in the late summer that were caused by hot weather and facility downtime. Production exceeded initial expectations for the quarter, as Evolution saw encouraging results from tests of higher quantities of CO2 injection and recycle rates without increasing the use of purchased CO2.
The 2017 Tax Cuts and Jobs Act will allow the company to record an expected one-time, non-cash benefit of approximately $6.0 million in the fiscal second quarter, as the company adjusts its liability for deferred income taxes to the lower current rate.
EnerCom Dallas conference presenter
Evolution Petroleum will be presenting at the EnerCom Dallas investment conference, Feb. 21-22 at the Tower Club in downtown Dallas. Institutional investors, portfolio managers, financial analysts, CIOs and other investment community professionals who invest in the energy space should register now.
