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January 28, 2014
09:03 EDTEPMEvolution Petroleum expects to appoint Randall Keys as CFO
Evolution Petroleum announced that Randall Keys is joining the management team and is expected to be elected by the Board of Directors to the positions of Senior Vice President, CFO and Treasurer following the filing of the Company's 10-Q for the quarter ended December 31, 2013 and the effectiveness of Sterling McDonald's previously announced retirement. Randy will also be elected to the position of Executive Vice President of NGS Technologies, a wholly owned subsidiary of Evolution Petroleum that is commercializing its patented GARP artificial lift technology. Keys has 27 years of experience as a senior finance professional in the energy business. He previously served as CFO for publicly traded Far East Energy Corp, BPZ Energy, Core Laboratories and 3DX Technologies.
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September 9, 2014
18:33 EDTEPMEvolution Petroleum projects near term Delhi capex $15M-$17M in FY15
The company's capital budget for FY15 at this time consists of investments targeted to the Delhi Field. The level and timing of the company's existing capital plan is dependent on the timing of reversion and the rate of spending by the operator, as may be later approved by the company. Projected near-term Delhi capital expenditures consist primarily of a recycle gas processing plant, which is projected to cost approximately $15M-17M net to the company and roll-out of the next phase of the CO2 project at Delhi Field, estimated to cost approximately $10M net to Evolution. These costs will likely be incurred over portions of FY15 and FY16. The company does not currently expect significant capital expenditures related to GARP installations, as it expects to provide more installations on a fee basis going forward. However, the company may have opportunities to install GARP on projects where it will bear all or part of the capital costs in exchange for compensation based on increased production. FY15 capital expenditures are expected to be funded by cash flows from operations and existing working capital.
18:29 EDTEPMEvolution Petroleum reports Q4 EPS 4c, consensus 11c
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