Evolution Petroleum reported a strong start to fiscal 2025, underpinned by a 16% year-over-year production increase to 7,478 net boe/d and a 6% rise in quarterly revenues to $21.9 million. The company continues to execute a diversified growth strategy across SCOOP/STACK, Chaveroo, and Delhi, while returning substantial value to shareholders via a long-running dividend program (45th consecutive quarterly payment announced). Management highlighted the resilience of a low-decline asset base, ongoing capex discipline, and a hedging program designed to reduce downside risk while preserving upside potential. Formation of a broader organic growth engine is complemented by deliberate capital redeployment toward high-return opportunities, with Delhi development activities progressing in partnership with ExxonMobil and CO2 injection activity resumed after a period of maintenance. Looking ahead, Evolution remains focused on growing liquids production, sustaining disciplined capital allocation, and pursuing accretive acquisitions when value-accretive opportunities arise. While explicit full-year guidance remains undisclosed, management reaffirmed a full-year CapEx target of roughly $12â$14 million and emphasized the potential for continued dividend stability supported by a diversified, high-quality asset base.