Evolution Petroleum reported a Q3 2024 that underscored a pivot toward higher-oil production through recent acquisitions and development programs, notably SCOOP/STACK and Chaveroo. Revenue was $23.0 million with gross profit of $4.50 million and EBITDA of $8.66 million, yielding an EBITDA margin of approximately 29.8%. Net income was $0.289 million, and EPS was $0.0086, reflecting the quarter’s lean bottom line amid meaningful capital deployment and a higher oil mix. Oil production rose about 19% year over year, while overall net production reached 7,209 boe/d in the quarter, up 14% versus the prior quarter, driven by the SCOOP/STACK and Chaveroo contributions that more than offset routine declines and weather-related downtime. The company continued to deploy capital into growth initiatives (CapEx of ~$2.6 million in Q3 for Chaveroo) and monetized the portfolio through strategic acquisitions, while maintaining a disciplined balance sheet aimed at leverage below 1x pro forma EBITDA. Management reiterated a commitment to maximize total shareholder returns via dividends, share repurchases, and replenishing/expanding cash-flow assets, with an explicit plan to systematically participate in further development blocks at Chaveroo and capitalize on SCOOP/STACK economics. The Delhi field remains a focal point for future growth (including Phase 5 discussions and CO2 EOR certification anticipated by summer), with near-term LOE reductions anticipated from a CO2 pipeline maintenance downtime resolved by June 2024. Going forward, Evolution intends to preserve balance-sheet strength, pursue accretive opportunities, and manage downside risk through hedging while preserving upside exposure to commodity prices.