HOUSTON, TX / ACCESSWIRE / January 26, 2017 / Evolution Petroleum Corporation (NYSE MKT: EPM) today announced that it will release its financial and operational results for the quarter ended December 31, 2016 (its second fiscal quarter of 2017) after the market closes on Tuesday, February 7, 2017. An investor conference call to review the results will be held on Wednesday, February 8, 2017 at 11:00 a.m. Eastern (10:00 a.m. Central). The call will be hosted by Randy Keys, President and CEO and David Joe, Chief Financial Officer.
Date: Wednesday, February 8, 2017
Time: 11:00 a.m. Eastern (10:00 a.m. Central)
Call: 1-855-327-6837 (United States & Canada)
Call: 1-631-891-4304 (International)
To listen live via webcast over the Internet, go to http://www.evolutionpetroleum.com
A replay will be available two hours after the end of the conference call through February 15, 2017, and will be accessible by calling 1-844-512-2921 (US & Canada); 1-412-317-6671 (International) with the passcode 10002342.
Delhi Field and NGL Plant Update
The Delhi field continues to perform very well and production has increased again this quarter as a result of continuing pattern optimization and conformance projects. The preliminary estimate of gross production from the field is 7,580 barrels of oil per day ("BOPD") for the quarter, or 1,986 BOPD net to the Company, which represents a 2.8% sequential increase from the prior quarter. Production during the quarter consisted entirely of crude oil.
The natural gas liquids ("NGL") recovery plant was completed in late October, as previously reported. The plant was in startup and testing operations during the remainder of the quarter and commenced commercial production at the end of December. The first sales of NGL products occurred in mid-January. Production has been ramping up during an optimization period this month and full production is expected in the next few weeks.
About Evolution Petroleum
Evolution Petroleum Corporation develops petroleum reserves and shareholder value by applying conventional and specialized technology to known oil and gas resources, onshore in the United States. Our principal asset is our interest in a CO2 enhanced oil recovery project in Louisiana's Delhi Field. Additional information, including the Company's annual report on Form 10-K and its quarterly reports on Form 10-Q, is available on its website at www.evolutionpetroleum.com.
All forward-looking statements contained in this press release regarding potential results and future plans and objectives of the Company involve a wide range risks and uncertainties. Statements herein using words such as "believe," "expect," "plans" and words of similar meaning are forward-looking statements. Although our expectations are based on engineering, geological, financial and operating assumptions that we believe to be reasonable, many factors could cause actual results to differ materially from our expectations and we can give no assurance that our goals will be achieved. These factors and others are detailed under the heading "Risk Factors" and elsewhere in our periodic documents filed with the SEC. The Company undertakes no obligation to update any forward-looking statement.
Randy Keys, CEO
SOURCE: Evolution Petroleum Corporation