Evolution Petroleum Announces Closing of the Barnett Shale Acquisition
ACCESSWIRE
Purchase of Minerals and Non-operated Working Interests in Long-Life, Liquids Rich Barnett Shale
Increases Scale and Further Diversifies Assets
Accretive Transaction Supports the Company s Long-Term Dividend Strategy
HOUSTON, TX / ACCESSWIRE / May 10, 2021 / Evolution Petroleum (NYSE American:EPM) ( Evolution or the Company ) announced today the closing of the acquisition of non-operated oil and gas assets in the Barnett Shale (the Transaction ) from TG Barnett Resources, LP ( TGBR ), a wholly owned subsidiary of Tokyo Gas Americas, Ltd. ( Tokyo Gas ) for $18.2 million, net of preliminary purchase price adjustments. The final purchase price before adjustments of the Transaction was $19.6 million in cash, with an effective date of January 1, 2021 and a closing date of May 7, 2021. The Company acquired substantially all of the assets, however a portion of the non-operated dry gas working interests
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Increases Next Dividend Payment by 67%
HOUSTON, TX / ACCESSWIRE / May 10, 2021 / Evolution Petroleum (NYSE American:EPM) ( Evolution or the Company ) announced today financial results and operating highlights for its fiscal third quarter ended March 31, 2021 (the current quarter ).
Highlights for the Quarter:
Declared a $0.05 per share dividend for the 4
th fiscal quarter payable on June 30, 2021, representing a 67% increase from the prior quarter.
Closed on substantially all of the previously announced acquisition of non-operated oil and gas assets in the Barnett Shale for $18.2 million, net of preliminary purchase price adjustments, on May 7, 2021.
Increased total revenues 32% over the prior quarter to $7.6 million.
Generated cash flow in excess of quarterly dividend and ended the quarter with $17.0 million in cash and no debt, net of the $2.3 million acquisition purchase price deposit.
Queensland Curtis LNG
LocationQueensland, Australia
Maximum capacity12mtpa
ContractorsBechtel Corporation
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The Queensland Curtis LNG (QCLNG) project is located on Curtis Island, Gladstone, in Queensland, Australia, and is being developed by QGC, a BG Group business. The project area starts from Surat Basin in Southern Queensland, extends to Gladstone and Curtis Island, and is spread over 500km.
The project involves conversion of coal seam gas (CSG) reserves into LNG, first of its kind in the world. It also includes expansion of exploration and development of CSG reserves in southern and central Queensland.
The CGS is transported via a 340km underground pipeline network to Gladstone. The gas is then transformed into LNG at the LNG plant on Curtis Island. The CSG to be converted into LNG is supplied to QGC by Origin Energy and its partner ConocoPhillips.
Gas Malaysia s profit up 16% in Q1
May 7, 2021 7:22:am
Summary The company said that the Covid-19 pandemic continues to have a “profound impact” across businesses and on Malaysia’s economy.
by: Shardul Sharma
Posted in:
Gas Malaysia s profit up 16% in Q1
Malaysian gas retailer Gas Malaysia on May 5 announced a 16.23% year/year increase in net profit for the three months ending March 31 (Q1) owing to higher volumes of gas sold.
Gas Malaysia s net profit in Q1 was 55.63mn ringgit ($13.5mn) compared with 47.86mn ringgit in the same quarter of last year. The revenue, however, declined 28.24% yr/yr to 1.15bn ringgit, owing to lower tariff during the three-month period.
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