Evolution Petroleum Prices $12 Million Public Offering to Fund Permian Basin Acquisition

Evolution Petroleum Corporation (NYSE American: EPM), an independent energy company focused on onshore oil and natural gas properties in the U.S., has priced its underwritten public offering of 3.7 million shares of common stock at $3.25 per share. The offering is expected to generate gross proceeds of approximately $12.0 million before underwriting discounts, commissions, and offering expenses. The company has also granted underwriters a 30-day option to purchase up to an additional 555,000 shares.

The net proceeds from the offering are intended to fund a portion of Evolution Petroleum's previously announced acquisition of oil and natural gas mineral and royalty interests in the Permian Basin, as well as for general corporate purposes. This strategic move highlights the company's commitment to expanding its footprint in one of the most prolific oil-producing regions in the United States.

The Permian Basin, located in West Texas and southeastern New Mexico, is a key driver of U.S. oil production growth. By acquiring mineral and royalty interests there, Evolution Petroleum aims to enhance its portfolio with long-life, low-risk assets that can generate stable cash flows. The acquisition aligns with the company's strategy of maximizing total shareholder returns through ownership of and investment in onshore properties.

Roth Capital Partners is acting as sole book-running manager for the offering, with Northland Capital Markets serving as co-manager and A.G.P./Alliance Global Partners as financial advisor. The involvement of these established financial institutions underscores the credibility of the offering and the company's growth prospects.

Evolution Petroleum is known for its disciplined approach to acquisitions and development opportunities. The company focuses on building a diversified portfolio of long-life oil and natural gas properties through selective acquisitions, production enhancements, and other exploitation efforts. This offering represents a significant step in executing that strategy.

The energy sector has seen increased activity in the Permian Basin as companies seek to capitalize on efficient drilling and production techniques. Evolution Petroleum's investment in this region is expected to contribute to the local economy through job creation and increased energy production, aligning with Texas's position as a leading energy state.

Investors and industry observers will be watching the completion of this offering and the subsequent acquisition, as it could signal further consolidation and investment in the Permian. The successful pricing of the offering suggests strong investor confidence in Evolution Petroleum's growth trajectory and the long-term potential of the Permian Basin assets.

For more information about Evolution Petroleum, visit https://www.evolutionpetroleum.com/. The full press release can be viewed at https://ibn.fm/LxWum.