On November 1, 2019, Evolution acquired a 23.5% non-operated working interest and a 19.7% revenue interest in the Hamilton Dome Field from Merit Energy, the operator of the field. Merit Energy purchased the asset in 1995 and has operated it since.
Hamilton Dome Field is located in northwestern Wyoming, ~20 miles northwest of the town of Thermopolis in Hot Springs County. The unitized field is situated in the southwest area of the Big Horn Basin. Hamilton Dome Field was discovered in 1918 and is primarily developed from the Phosphoria and Tensleep reservoirs. Over the last 100+ years, more than 160 MMbbls have been produced from Hamilton Dome field. The field is currently produced via a secondary recovery waterflood, which was implemented in the 1970s. Production is 100% oil and currently averages low single-digit decline rates.
As of June 30, 2021, Evolution has recorded a total of 1.85 MMBO of oil net proved reserves at Hamilton Dome.