Everflow Eastern's Net Income Soars 981% on Strong Oil & Gas Sales
| Field | Detail |
|---|---|
| Company | Everflow Eastern Partners LP |
| Form Type | 10-Q |
| Filed Date | Nov 10, 2025 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | bullish |
Sentiment: bullish
Topics: Oil & Gas, Energy Sector, Partnership, Financial Performance, Revenue Growth, Net Income, Asset Retirement Obligations
TL;DR
**Everflow Eastern is gushing profits, making it a strong buy for energy bulls looking for a regional play.**
AI Summary
EVERFLOW EASTERN PARTNERS, L.P. reported a significant turnaround in net income for the nine months ended September 30, 2025, reaching $2,191,846, a substantial increase from $202,638 in the same period of 2024. This 981% surge was primarily driven by a robust increase in crude oil and natural gas sales, which climbed to $5,097,419 from $3,269,597 year-over-year, representing a 55.9% increase. Total revenues for the nine-month period rose to $5,471,894 from $3,561,693. Despite higher revenues, total direct cost of revenues remained relatively stable, decreasing slightly to $3,000,028 from $3,049,353, contributing to improved profitability. The company's cash and equivalents decreased by $401,730 to $8,818,096 as of September 30, 2025, from $9,219,826 at the beginning of the period, largely due to increased investment purchases of $3,447,148. Asset retirement obligations increased to $18,237,177 from $17,581,892, reflecting future well abandonment costs. Limited Partners' Equity also grew to $22,172,185 from $20,044,593.
Why It Matters
This filing reveals a significant financial improvement for Everflow Eastern Partners, driven by strong commodity prices and operational efficiency, which is crucial for investors seeking returns in the energy sector. The substantial increase in net income and limited partners' equity could signal a more stable and potentially rewarding investment, especially given the competitive landscape where smaller, focused partnerships can outperform. Employees may see increased job security and potential for growth, while customers benefit from continued reliable energy supply. The broader market gains insight into the health of regional oil and gas production, particularly in Ohio and Pennsylvania, amidst fluctuating global energy demands.
Risk Assessment
Risk Level: medium — The company's reliance on oil and gas sales, which are subject to volatile commodity prices, presents a medium risk. While net income surged to $2,191,846, investment income decreased to $1,230,208 from $1,384,556, indicating potential sensitivity to market fluctuations. Additionally, the significant asset retirement obligations of $18,237,177 represent a long-term financial commitment that could impact future liquidity.
Analyst Insight
Investors should consider a 'hold' or 'buy' position, given the substantial increase in net income and revenue from crude oil and natural gas sales. Monitor commodity price trends and the company's ability to manage its growing asset retirement obligations, as these are key factors for sustained performance.
Key Numbers
- $2,191,846 — Net Income (for the nine months ended September 30, 2025, up 981% from $202,638 in 2024)
- $5,097,419 — Crude oil and natural gas sales (for the nine months ended September 30, 2025, up 55.9% from $3,269,597 in 2024)
- $5,471,894 — Total revenues (for the nine months ended September 30, 2025, up from $3,561,693 in 2024)
- $3,000,028 — Total direct cost of revenues (for the nine months ended September 30, 2025, a slight decrease from $3,049,353 in 2024)
- $8,818,096 — Cash and equivalents (as of September 30, 2025, down from $9,219,826 at December 31, 2024)
- $18,237,177 — Asset Retirement Obligations (as of September 30, 2025, up from $17,581,892 at December 31, 2024)
- $22,172,185 — Limited Partners' Equity (as of September 30, 2025, up from $20,044,593 at December 31, 2024)
- $3,447,148 — Purchase of investments (for the nine months ended September 30, 2025, up from $1,072,176 in 2024)
- $0.47 — Net income per Unit (for the nine months ended September 30, 2025, up from $0.04 in 2024)
Key Players & Entities
- EVERFLOW EASTERN PARTNERS, L.P. (company) — registrant
- Everflow Management Limited, LLC (company) — general partner of Everflow
- Everflow Management Corporation (company) — managing member of EML
- SEC (regulator) — Securities and Exchange Commission
- Ohio (location) — state of incorporation/operation
- Pennsylvania (location) — state of operation
- Delaware (location) — state of incorporation
- FASB (regulator) — Financial Accounting Standards Board
FAQ
What were Everflow Eastern Partners' net income and revenue for the nine months ended September 30, 2025?
Everflow Eastern Partners reported a net income of $2,191,846 for the nine months ended September 30, 2025, a significant increase from $202,638 in the prior year. Total revenues for the same period reached $5,471,894.
How did Everflow Eastern Partners' crude oil and natural gas sales perform in Q3 2025?
Crude oil and natural gas sales for Everflow Eastern Partners increased to $5,097,419 for the nine months ended September 30, 2025, up from $3,269,597 in the same period of 2024, representing a 55.9% increase.
What is the current status of Everflow Eastern Partners' cash and equivalents?
As of September 30, 2025, Everflow Eastern Partners had cash and equivalents of $8,818,096, a decrease from $9,219,826 at December 31, 2024.
What are Everflow Eastern Partners' asset retirement obligations?
Everflow Eastern Partners' asset retirement obligations stood at $18,237,177 as of September 30, 2025, an increase from $17,581,892 at December 31, 2024.
Who is the general partner of Everflow Eastern Partners, L.P.?
Everflow Management Limited, LLC (EML), an Ohio limited liability company, is the general partner of Everflow Eastern Partners, L.P. EML is authorized to perform all acts necessary to carry out the business purposes.
Where does Everflow Eastern Partners operate its oil and gas business?
Everflow Eastern Partners operates exclusively in Ohio and Pennsylvania of the United States, focusing on the acquisition, exploration, development, and production of oil and gas.
How does Everflow Eastern Partners account for its investments?
Everflow Eastern Partners' investments are carried at fair market value based on quoted prices available in active markets, classifying them as Level 1 in the fair value hierarchy.
What was the net income per Unit for Everflow Eastern Partners?
Net income per Unit for Everflow Eastern Partners was $0.47 for the nine months ended September 30, 2025, a significant improvement from $0.04 in the same period of 2024.
What are 'Operational Advances' for Everflow Eastern Partners?
Operational Advances represent funds collected and maintained by Everflow Eastern Partners on behalf of joint venture partners for their anticipated share of future plugging and abandonment costs. As of September 30, 2025, these amounted to $3,527,408.
Has Everflow Eastern Partners filed all required SEC reports?
Yes, Everflow Eastern Partners has indicated by check mark that it has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months.
Filing Stats: 4,418 words · 18 min read · ~15 pages · Grade level 14.1 · Accepted 2025-11-10 09:00:53
Filing Documents
- eepl20250930_10q.htm (10-Q) — 517KB
- ex_883358.htm (EX-31.1) — 10KB
- ex_883359.htm (EX-31.2) — 10KB
- ex_883360.htm (EX-32.1) — 7KB
- 0001437749-25-033968.txt ( ) — 2263KB
- eepl-20250930.xsd (EX-101.SCH) — 18KB
- eepl-20250930_def.xml (EX-101.DEF) — 125KB
- eepl-20250930_lab.xml (EX-101.LAB) — 150KB
- eepl-20250930_pre.xml (EX-101.PRE) — 142KB
- eepl-20250930_cal.xml (EX-101.CAL) — 31KB
- eepl20250930_10q_htm.xml (XML) — 188KB
Financial Statements
Financial Statements Consolidated Balance Sheets September 30, 2025 and December 31, 2024 F-1 Consolidated Statements of Operations Three and Nine Months Ended September 30, 2025 and 2024 F-3 Consolidated Statements of Partners' Equity Nine Months Ended September 30, 2025 and 2024 F-4 Consolidated Statements of Cash Flows Nine Months Ended September 30, 2025 and 2024 F-5 Notes to Unaudited Consolidated Financial Statements F-6 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 3 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 7 Item 4.
Controls and Procedures
Controls and Procedures 7 Part II. Other Information Item 5. Other Information 8 Item 6. Exhibits 8 Signature 9 2 Table of Contents EVERFLOW EASTERN PARTNERS, L. P. CONSOLIDATED FINANCIAL REPORT SEPTEMBER 30, 2025 Table of Contents
: FINANCIAL INFORMATION
Part I: FINANCIAL INFORMATION
FINANCIAL STATEMENTS
Item 1. FINANCIAL STATEMENTS EVERFLOW EASTERN PARTNERS, L.P. CONSOLIDATED BALANCE SHEETS September 30, 2025 and December 31, 2024 September 30, December 31, 2025 2024 (Unaudited) (Audited) ASSETS CURRENT ASSETS Cash and equivalents $ 8,818,096 $ 9,219,826 Investments 31,940,196 28,402,617 Production accounts receivable 870,142 918,745 Other 31,364 28,060 Total current assets 41,659,798 38,569,248 PROPERTY AND EQUIPMENT Proved properties (successful efforts accounting method) 133,360,481 134,156,537 Pipeline and support equipment 631,512 617,217 Corporate and other 2,169,496 2,156,948 Gross property and equipment 136,161,489 136,930,702 Less accumulated depreciation, depletion, amortization and write down 130,252,359 130,851,814 Net property and equipment 5,909,130 6,078,888 OTHER ASSETS 279,281 267,575 TOTAL ASSETS $ 47,848,209 $ 44,915,711 See notes to unaudited consolidated financial statements. F-1 Table of Contents EVERFLOW EASTERN PARTNERS, L.P. CONSOLIDATED BALANCE SHEETS September 30, 2025 and December 31, 2024 September 30, December 31, 2025 2024 (Unaudited) (Audited) LIABILITIES AND PARTNERS' EQUITY CURRENT LIABILITIES Accounts payable $ 2,952,324 $ 2,714,240 Accrued expenses 636,447 997,093 Total current liabilities 3,588,771 3,711,333 OPERATIONAL ADVANCES 3,527,408 3,287,702 ASSET RETIREMENT OBLIGATIONS 18,237,177 17,581,892 COMMITMENTS AND CONTINGENCIES LIMITED PARTNERS' EQUITY, SUBJECT TO REPURCHASE RIGHT Authorized - 8,000,000 Units Issued and outstanding - 4,610,646 Units and 4,634,720 Units 22,172,185 20,044,593 GENERAL PARTNER'S EQUITY 322,668 290,191 Total partners' equity 22,494,853 20,334,784 TOTAL LIABILITIES AND PARTNERS' EQUITY $ 47,848,209 $ 44,915,711 See notes to unaudited consolidated financial statements. F-2 Table of Contents EVERFLOW EASTERN PARTNERS, L.P. CONSOLIDATED STATEMENTS O