Research from Water Tower Research, Water Tower Research

Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Research from Water Tower Research

Equity Research Firm

Equity Bottom-Up

<ul><li>Evolution’s latest mineral/royalty acquisition, which closed August 20, 2026, bolsters the cash flow contribution from high-margin production. </li><li>The acquisition added 3,420 net mineral acres in the Midland Basin for a total purchase price of $16 million.</li><li>Funding was provided by ~$12.4 million of net proceeds from an August 18, 2026, secondary common stock offering (4.255 million shares) plus ~$3.6 million of cash. </li></ul>

Evolution’s latest mineral/royalty acquisition, which closed August 20, 2026, bolsters the cash flow contribution from high-margin production. The acquisition added 3,420 net mineral acres in the Midland Basin for a total purchase price of $16 million.Funding was provided by ~$12.4 million of net proceeds from an August 18, 2026, secondary common stock offering (4.255 million shares) plus ~$3.6 million of cash. 

Evolution Petroleum

EPM: A Permian Royalty/Mineral Foothold