# EDGAR Filing Document

**Accession Number:** 0000868082
**File Stem:** 0001437749-25-033968
**Filing Date:** 2025-11
**Character Count:** 63173
**Document Hash:** 48f09f559d94b8f5bcdc542f2ed8cf47
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-25-033968.hdr.sgml**: 20251110

**ACCESSION NUMBER**: 0001437749-25-033968

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 35

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251110

**DATE AS OF CHANGE**: 20251110

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EVERFLOW EASTERN PARTNERS LP
- **CENTRAL INDEX KEY:** 0000868082
- **STANDARD INDUSTRIAL CLASSIFICATION:** CRUDE PETROLEUM & NATURAL GAS [1311]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 341659910
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-19279
- **FILM NUMBER:** 251464679

**BUSINESS ADDRESS:**
- **STREET 1:** 585 WEST MAIN STREET
- **STREET 2:** PO BOX 629
- **CITY:** CANFIELD
- **STATE:** OH
- **ZIP:** 44406
- **BUSINESS PHONE:** 3305332692

**MAIL ADDRESS:**
- **STREET 1:** 585 WEST MAIN STREET
- **STREET 2:** P O BOX 629
- **CITY:** CANFIELD
- **STATE:** OH
- **ZIP:** 44406

?xml version='1.0' encoding='ASCII'? eepl20250930_10q.htm

[**Table of Contents**](#toc)

------

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-Q**

 **☒ Quarterly report pursuant to Section 13 or 15(d)** 

**of the Securities Exchange Act of 1934**

**For the quarterly period ended September 30, 2025**

**OR**

**☐ Transition report pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**For the transition period from to .**

Commission File Number 0-19279

**EVERFLOW EASTERN PARTNERS, L.P.**

**(Exact name of registrant as specified in its charter)**

---

| | |
|:---|:---|
| Delaware | 34-1659910 |
| (State or other jurisdiction of | (I.R.S. Employer |
| incorporation or organization) | Identification No.) |
| 585 West Main Street |  |
| P.O. Box 629 |  |
| Canfield, Ohio | 44406 |
| (Address of principal executive offices) | (Zip Code) |

---

Registrant's telephone number, including area code: (330) 533-2692

Indicate by check mark whether the registrant (1) 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 (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this Chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Large accelerated filer | ☐ | Accelerated filer | ☐ |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emerging growth company | ☐ |  |  |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒&nbsp;&nbsp;&nbsp;&nbsp;

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |

---

None

There were 4,610,646 Units of limited partnership interest of the registrant as of November 7, 2025. The Units generally do not have any voting rights, but, in certain circumstances, the Units are entitled to one vote per Unit.

Except as otherwise indicated, the information contained in this report is as of September 30, 2025.

------

[**Table of Contents**](#toc)

EVERFLOW EASTERN PARTNERS, L.P.

INDEX

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>DESCRIPTION</u>&nbsp;&nbsp;&nbsp;&nbsp; | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>DESCRIPTION</u>&nbsp;&nbsp;&nbsp;&nbsp; | <u>PAGE NO.</u> |
| Part I. | [Financial Information](#part1) | [Financial Information](#part1) |  |
|  | Item 1. | [Financial Statements](#part1) |  |
|  |  | [Consolidated Balance Sheets September 30, 2025 and December 31, 2024](#part1) | [F-1](#part1) |
|  |  | [Consolidated Statements of Operations Three and Nine Months Ended September 30, 2025 and 2024](#is) | [F-3](#is) |
|  |  | [Consolidated Statements of Partners' Equity Nine Months Ended September 30, 2025 and 2024](#es) | [F-4](#es) |
|  |  | [Consolidated Statements of Cash Flows Nine Months Ended September 30, 2025 and 2024](#cf) | [F-5](#cf) |
|  |  | [Notes to Unaudited Consolidated Financial Statements](#notes) | [F-6](#notes) |
|  | Item 2. | [Management's Discussion and Analysis of Financial Condition and Results of Operations](#mda) | [3](#mda) |
|  | Item 3. | [Quantitative and Qualitative Disclosures About Market Risk](#qqd) | [7](#qqd) |
|  | Item 4. | [Controls and Procedures](#cp) | [7](#cp) |
| Part II. | [Other Information](#part2) | [Other Information](#part2) |  |
|  | Item 5. | [Other Information](#oi) | [8](#oi) |
|  | Item 6. | [Exhibits](#ex) | [8](#ex) |
|  |  | [Signature](#sig) | [9](#sig) |

---

------

[**Table of Contents**](#toc)

**EVERFLOW EASTERN PARTNERS, L. P.**

**CONSOLIDATED FINANCIAL REPORT**

**SEPTEMBER 30, 2025**

------

[**Table of Contents**](#toc)

Part I: FINANCIAL INFORMATION

Item 1. FINANCIAL STATEMENTS

EVERFLOW EASTERN PARTNERS, L.P.

CONSOLIDATED BALANCE SHEETS

<u>September 30, 2025 and December 31, 2024</u>

---

| | | |
|:---|:---|:---|
|  | September 30, | December 31, |
|  | 2025 | 2024 |
|  | (Unaudited) | (Audited) |
| <u>ASSETS</u> |  |  |
| CURRENT ASSETS |  |  |
| Cash and equivalents | $8818096 | $9219826 |
| Investments | 31940196 | 28402617 |
| Production accounts receivable | 870142 | 918745 |
| Other | 31364 | 28060 |
| Total current assets | 41659798 | 38569248 |
| PROPERTY AND EQUIPMENT |  |  |
| Proved properties (successful efforts accounting method) | 133360481 | 134156537 |
| Pipeline and support equipment | 631512 | 617217 |
| Corporate and other | 2169496 | 2156948 |
| Gross property and equipment | 136161489 | 136930702 |
| Less accumulated depreciation, depletion, amortization and write down | 130252359 | 130851814 |
| Net property and equipment | 5909130 | 6078888 |
| OTHER ASSETS | 279281 | 267575 |
| TOTAL ASSETS | $47848209 | $44915711 |

---

See notes to unaudited consolidated financial statements.

------

[**Table of Contents**](#toc)

EVERFLOW EASTERN PARTNERS, L.P.

CONSOLIDATED BALANCE SHEETS

<u>September 30, 2025 and December 31, 2024</u>

---

| | | |
|:---|:---|:---|
|  | September 30, | December 31, |
|  | 2025 | 2024 |
|  | (Unaudited) | (Audited) |
| <u>LIABILITIES AND PARTNERS' EQUITY</u> |  |  |
| CURRENT LIABILITIES |  |  |
| Accounts payable | $2952324 | $2714240 |
| Accrued expenses | 636447 | 997093 |
| Total current liabilities | 3588771 | 3711333 |
| OPERATIONAL ADVANCES | 3527408 | 3287702 |
| ASSET RETIREMENT OBLIGATIONS | 18237177 | 17581892 |
| 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 | 22172185 | 20044593 |
| GENERAL PARTNER'S EQUITY | 322668 | 290191 |
| Total partners' equity | 22494853 | 20334784 |
| TOTAL LIABILITIES AND PARTNERS' EQUITY | $47848209 | $44915711 |

---

See notes to unaudited consolidated financial statements.

------

[**Table of Contents**](#toc)

EVERFLOW EASTERN PARTNERS, L.P.

CONSOLIDATED STATEMENTS OF OPERATIONS

<u>Three and Nine Months Ended September 30, 2025 and 2024</u>

(Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Three Months Ended | Three Months Ended | Nine Months Ended | Nine Months Ended |
|  | September 30, | September 30, | September 30, | September 30, |
|  | 2025 | 2024 | 2025 | 2024 |
| REVENUES |  |  |  |  |
| Crude oil and natural gas sales | $1291441 | $887660 | $5097419 | $3269597 |
| Well management and operating | 104112 | 78595 | 372861 | 289642 |
| Other | 685 | 1180 | 1614 | 2454 |
| Total revenues | 1396238 | 967435 | 5471894 | 3561693 |
| DIRECT COST OF REVENUES |  |  |  |  |
| Production costs | 552075 | 538750 | 1791849 | 1686064 |
| Well management and operating | 62583 | 47141 | 224241 | 174327 |
| Depreciation, depletion and amortization | 82540 | 89319 | 243038 | 300662 |
| Accretion expense | 226200 | 288400 | 740900 | 888300 |
| Total direct cost of revenues | 923398 | 963610 | 3000028 | 3049353 |
| GENERAL AND ADMINISTRATIVE EXPENSE | 545808 | 588620 | 1600097 | 1764600 |
| Total cost of revenues | 1469206 | 1552230 | 4600125 | 4813953 |
| INCOME (LOSS) FROM OPERATIONS | (72968) | (584795) | 871769 | (1252260) |
| OTHER INCOME |  |  |  |  |
| Investment income | 418972 | 570850 | 1230208 | 1384556 |
| Gain (loss) on disposal of property and equipment | (9412) | (9976) | 89869 | 70342 |
| Total other income | 409560 | 560874 | 1320077 | 1454898 |
| NET INCOME (LOSS) | $336592 | $(23921) | $2191846 | $202638 |
| Allocation of Partnership Net Income (Loss): |  |  |  |  |
| Limited Partners | $331736 | $(23610) | $2160514 | $199791 |
| General Partner | 4856 | (311) | 31332 | 2847 |
| Net income (loss) | $336592 | $(23921) | $2191846 | $202638 |
| Net income (loss) per Unit | $0.08 | $(0.01) | $0.47 | $0.04 |

---

See notes to unaudited consolidated financial statements.

------

[**Table of Contents**](#toc)

EVERFLOW EASTERN PARTNERS, L.P.

CONSOLIDATED STATEMENTS OF PARTNERS' EQUITY

<u>Nine Months Ended September 30, 2025 and 2024</u>

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | 2025 | 2024 |
| PARTNERS' EQUITY - BEGINNING OF PERIOD | $20334784 | $21234924 |
| Net income | 2191846 | 202638 |
| Cash distributions ($0.20 per Unit in 2024) |  | (962757) |
| Repurchase of Units | (63555) | (207270) |
| Options exercised | 31778 | 43800 |
| PARTNERS' EQUITY - END OF PERIOD | $22494853 | $20311335 |

---

See notes to unaudited consolidated financial statements.

------

[**Table of Contents**](#toc)

EVERFLOW EASTERN PARTNERS, L.P.

CONSOLIDATED STATEMENTS OF CASH FLOWS

<u>Nine Months Ended September 30, 2025 and 2024</u>

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | 2025 | 2024 |
| CASH FLOWS FROM OPERATING ACTIVITIES |  |  |
| Net income | $2191846 | $202638 |
| Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| Depreciation, depletion and amortization | 312938 | 368662 |
| Accretion expense | 740900 | 888300 |
| Unrealized gain on investments | (90431) | (111790) |
| Gain on disposal of property and equipment | (89869) | (70342) |
| Changes in assets and liabilities: |  |  |
| Production accounts receivable | 48603 | 246226 |
| Other current assets | (3304) | 136662 |
| Other assets | (11706) | (8711) |
| Accounts payable | 238084 | (86193) |
| Accrued expenses | (386841) | (493400) |
| Operational advances | 239706 | 199671 |
| Total adjustments | 998080 | 1069085 |
| Net cash provided by operating activities | 3189926 | 1271723 |
| CASH FLOWS FROM INVESTING ACTIVITIES |  |  |
| Purchase of investments | (3447148) | (1072176) |
| Purchase of property and equipment | (173842) |  |
| Proceeds from disposal of property and equipment | 61111 | 80871 |
| Net cash used in investing activities | (3559879) | (991305) |
| CASH FLOWS FROM FINANCING ACTIVITIES |  |  |
| Distributions |  | (962757) |
| Repurchase of Units | (63555) | (207270) |
| Proceeds from options exercised | 31778 | 43800 |
| Net cash used in financing activities | (31777) | (1126227) |
| NET CHANGE IN CASH AND EQUIVALENTS | (401730) | (845809) |
| CASH AND EQUIVALENTS - BEGINNING OF PERIOD | 9219826 | 9586524 |
| CASH AND EQUIVALENTS - END OF PERIOD | $8818096 | $8740715 |

---

See notes to unaudited consolidated financial statements.

------

[**Table of Contents**](#toc)

EVERFLOW EASTERN PARTNERS, L.P.

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

---

| | |
|:---|:---|
| Note 1. | Organization and Summary of Significant Accounting Policies |

---

A. Organization - Everflow Eastern Partners, L.P. ("Everflow") is a Delaware limited partnership which was organized in September 1990 to engage in the business of oil and gas acquisition, exploration, development and production. Everflow was formed to consolidate the business and oil and gas properties of Everflow Eastern, Inc. ("EEI") and subsidiaries and the oil and gas properties owned by certain limited partnership and working interest programs managed or sponsored by EEI ("EEI Programs" or the "Programs").

Everflow Management Limited, LLC ("EML"), an Ohio limited liability company, is the general partner of Everflow and, as such, is authorized to perform all acts necessary or desirable to carry out the purposes and conduct of the business of Everflow. The members of EML include Everflow Management Corporation ("EMC"), three individuals who are officers and directors of EEI, which includes the Chairman of the Board of EEI, and one individual who is a director of EEI. EMC is an Ohio corporation formed in September 1990 and is the managing member of EML.

B. Principles of Consolidation - The consolidated financial statements include the accounts of Everflow, its wholly-owned subsidiaries, including EEI, and interests with joint venture partners (collectively, the "Company"), which are accounted for under the proportional consolidation method. All significant accounts and transactions between the consolidated entities have been eliminated.

C. Interim Financial Statements - The interim consolidated financial statements included herein have been prepared by the management of Everflow, without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position and results of operations have been made.

The accompanying condensed consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with the instructions to Form 10--Q and Article 8-03 of Regulation S-X. Accordingly, they do not include all of the disclosures normally required by GAAP, or those normally made in an Annual Report on Form 10-K, although the Company believes that the disclosures made are adequate to make the information not misleading. It is suggested that these consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto which are incorporated in Everflow's annual report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on March 25, 2025.

The results of operations for the interim periods may not necessarily be indicative of the results to be expected for the full year.

------

[**Table of Contents**](#toc)

EVERFLOW EASTERN PARTNERS, L.P.

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

---

| | |
|:---|:---|
| Note 1. | Organization and Summary of Significant Accounting Policies |

---

D. Use of Estimates - The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates impacting the Company's consolidated financial statements include revenue and expense accruals and oil and gas reserve quantities. In the oil and gas industry, and especially as related to the Company's natural gas sales, the processing of actual transactions generally occurs 60-90 days after the month of delivery of its product. Consequently, accounts receivable from production and oil and gas sales are recorded using estimated production volumes and market or contract prices. Differences between estimated and actual amounts are recorded in subsequent period's financial results. As is typical in the oil and gas industry, a significant portion of the Company's accounts receivable from production and oil and gas sales consists of unbilled receivables. Oil and gas reserve quantities are utilized in the calculation of depreciation, depletion and amortization and the impairment of oil and gas wells and also impact the timing and costs associated with asset retirement obligations. The Company's estimates, especially those related to oil and gas reserves, could change in the near term and could significantly impact the Company's results of operations and financial position.

E. Cash and Equivalents - The Company considers all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents. The Company maintains, at various financial institutions, cash and equivalents which may exceed federally insured amounts and which may, at times, significantly exceed balance sheet amounts due to float.

F. Investments – The Company's investments consist of shares held in a mutual fund that invests primarily in investment grade, U.S. dollar denominated short-term fixed and floating rate debt securities. The mutual fund seeks current income while seeking to maintain a low volatility of principal.

The Financial Accounting Standards Board established a framework for measuring fair value and expanded disclosures about fair value measurements by establishing a fair value hierarchy that prioritizes the inputs and defines valuation techniques used to measure fair value. The hierarchy gives highest priority to Level I inputs and lowest priority to Level III inputs. The three levels of the fair value hierarchy are described below:

------

[**Table of Contents**](#toc)

EVERFLOW EASTERN PARTNERS, L.P.

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

---

| | |
|:---|:---|
| Note 1. | Organization and Summary of Significant Accounting Policies |

---

F. Investments (continued)

Level I – Quoted prices are available in active markets for identical financial instruments as of the reporting date.

Level II – Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value is determined through the use of models or other valuation methodologies.

Level III – Pricing inputs are unobservable for the financial instrument and include situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value require significant management judgment or estimation.

The Company's investments are carried at fair market value based on quoted prices available in active markets and are therefore classified as Level 1.

G. Operational Advances - The Company collects and maintains funds on behalf of joint venture partners who own working interests in wells of which the Company manages for their anticipated share of future plugging and abandonment costs. As of September 30, 2025 and December 31, 2024, cash and equivalents include $3,527,408 and $3,287,702, respectively, of operational advances. Operational advances held on behalf of employees, including officers, and directors were approximately $1,054,900 and $1,029,600 as of September 30, 2025 and December 31, 2024, respectively.

H. Asset Retirement Obligations - GAAP requires the fair value of a liability for an asset retirement obligation to be recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. For the Company, these obligations include dismantlement, plugging and abandonment of oil and gas wells and associated pipelines and equipment. The associated asset retirement costs are capitalized as part of the carrying amount of the long-lived asset. The liability is accreted to its then present value each period, and the capitalized cost is depleted over the estimated useful life of the related asset.

The estimated liability is based on historical experience in dismantling, plugging and abandoning wells, estimated remaining lives of those wells based on reserves estimates, estimates of the external cost to dismantle, plug and abandon the wells in the future and federal and state regulatory requirements. The liability is discounted using an assumed credit-adjusted, risk-free interest rate.

------

[**Table of Contents**](#toc)

EVERFLOW EASTERN PARTNERS, L.P.

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

---

| | |
|:---|:---|
| Note 1. | Organization and Summary of Significant Accounting Policies |

---

I. Revenue Recognition – Revenues from contracts with customers are recognized when performance obligations are satisfied in accordance with contractual terms.

For the sale of crude oil and natural gas from operated properties, the Company generally considers each unit (BBL or MCF) to be a separate performance obligation. The transaction price may consist of fixed and variable consideration, in which the variable amount is determinable each production period and is recognized as revenue upon pickup/delivery of the crude oil or natural gas, which is the point in time that the customer obtains control of the crude oil or natural gas and the Company's performance obligation is satisfied.

Crude oil and natural gas sales derived from third party operated wells are recognized under similar terms as sales of crude oil and natural gas from operated properties and revenue is recognized at a point in time when the product is delivered, the purchaser obtains control and the Company's performance obligation is satisfied.

Crude oil and natural gas sales represent the Company's share of revenues, net of royalties and other revenue interests owned by other parties. When settling crude oil and natural gas on behalf of royalty owners or working interest owners, the Company is acting as an agent and thus reports the revenue on a net basis.

Based on the Company's judgment, the Company's performance obligations have been satisfied and an unconditional right to consideration exists at September 30, 2025 and December 31, 2024; therefore, the Company recognized amounts due from contracts with customers as production accounts receivable within the Company's consolidated balance sheets at September 30, 2025 and December 31, 2024.

The Company utilizes the sales method to account for gas production volume imbalances. Under this method, revenue is recognized only when gas is produced and sold on the Company's behalf. The Company had no material gas imbalances at September 30, 2025 and December 31, 2024.

The Company participates (and may act as drilling contractor) with unaffiliated and affiliated joint venture partners, employees, including officers, and directors in the drilling, development and operation of jointly owned oil and gas properties. Each owner, including the Company, has an undivided interest in the jointly owned properties. Generally, the joint venture partners, employees and directors participate on the same drilling/development cost basis as the Company and, therefore, no revenue, expense or income is recognized on the drilling and development of the properties. Well management and operating revenues are derived from a variety of both verbal and written operating agreements with joint venture partners and are recognized monthly as services are provided and properties are managed and operated. Other revenues consist of miscellaneous revenues that are recognized at the time services are rendered, the Company has a contractual right to such revenue and collection is reasonably assured.

------

[**Table of Contents**](#toc)

EVERFLOW EASTERN PARTNERS, L.P.

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

---

| | |
|:---|:---|
| Note 1. | Organization and Summary of Significant Accounting Policies |

---

J. Income Taxes - Everflow is not a tax-paying entity and the net taxable income or loss, other than the taxable income or loss allocable to EEI, which is a C corporation owned by Everflow, will be allocated directly to its respective partners. The Company is not able to determine the net difference between the tax bases and the reported amounts of Everflow's assets and liabilities due to separate elections that were made by owners of the working interests and limited partnership interests that comprised the Programs.

The Company believes that it has appropriate support for any tax positions taken and, as such, does not have any uncertain tax positions that are material to the consolidated financial statements.

K. Allocation of Income and Per Unit Data - Under the terms of the limited partnership agreement, initially, 99% of revenues and costs were allocated to the Unitholders (the limited partners) and 1% of revenues and costs were allocated to the General Partner. Such allocation has changed and may change in the future due to Unitholders electing to exercise the Repurchase Right and select officers and employees electing to exercise options (see Note 3).

Net income per limited partner Unit have been computed based on the weighted average number of Units outstanding during each period presented.

L. Segment Reporting – The Company operates exclusively in Ohio and Pennsylvania of the United States in the acquisition, exploration, development and production in oil and gas. The Company has determined that all of its business activities aggregate to a single operating and reporting segment and those business activities are collectively reviewed by the Company's Chief Executive Officer ("CEO"), who has been identified as the chief operating decision maker.

The CEO regularly evaluates performance of the aggregated single operating and reporting segment, makes operating decisions and allocates resources based on net income calculated on the same basis as net income reporting in the Company's Consolidated Statements of Operations. The CEO is also regularly provided with expense information at a level consistent with that disclosed in the Company's Consolidated Statements of Operations.

M. New Accounting Standards - The Company has reviewed recently issued accounting standards in order to determine their effects, if any, on the consolidated financial statements. Based on that review, the Company believes that none of these standards will have a significant effect on current or future earnings or results of operations.

------

[**Table of Contents**](#toc)

EVERFLOW EASTERN PARTNERS, L.P.

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

---

| | |
|:---|:---|
| Note 2. | Current Liabilities |

---

The Company's current liabilities consist of the following on September 30, 2025 and December 31, 2024:

---

| | | |
|:---|:---|:---|
|  | September 30, | December 31, |
|  | 2025 | 2024 |
| Accounts Payable: |  |  |
| Production and related other | $2880267 | $2644137 |
| Other | 72057 | 70103 |
| Total accounts payable | $2952324 | $2714240 |
| Accrued Expenses: |  |  |
| Payroll and retirement plan contributions | $450090 | $769526 |
| Current portion of asset retirement obligations | 148000 | 169000 |
| Federal, state and local taxes | 26957 | 35867 |
| Other general and administrative | 11400 | 22700 |
| Total accrued expenses | $636447 | $997093 |

---

---

| | |
|:---|:---|
| Note 3. | Partners' Equity |

---

Units represent limited partnership interests in Everflow. The Units are transferable subject to the approval of EML and to the laws governing the transfer of securities. The Units are not listed for trading on any securities exchange nor are they quoted in the automated quotation system of a registered securities association. However, Unitholders may have an opportunity to require Everflow to repurchase their Units pursuant to the Repurchase Right.

------

[**Table of Contents**](#toc)

EVERFLOW EASTERN PARTNERS, L.P.

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

---

| | |
|:---|:---|
| Note 3. | Partners' Equity (Continued) |

---

The partnership agreement provides that Everflow will repurchase for cash up to 10% of the then outstanding Units, to the extent Unitholders offer Units to Everflow for repurchase pursuant to the Repurchase Right. The Repurchase Right entitles any Unitholder, between May 1 and June 30 of each year, to notify Everflow that the Unitholder elects to exercise the Repurchase Right and have Everflow acquire certain or all Units. The price to be paid for any such Units is calculated based upon the audited consolidated financial statements of the Company as of December 31 of the year prior to the year in which the Repurchase Right is to be effective and independently prepared reserve reports. The price per Unit equals 66% of the adjusted book value of the Company allocable to the Units, divided by the number of Units outstanding at the beginning of the year in which the applicable Repurchase Right is to be effective less interim cash distributions received by a Unitholder. The adjusted book value is calculated by adding partners' equity, the Standardized Measure of Discounted Future Net Cash Flows and the tax effect included in the Standardized Measure and subtracting from that sum the carrying value of oil and gas properties (net of undeveloped lease costs). If more than 10% of the then outstanding Units are tendered during any period during which the Repurchase Right is to be effective, the Investors' Units tendered shall be prorated for purposes of calculating the actual number of Units to be acquired during any such period. The price associated with the 2025 Repurchase Right, based upon the December 31, 2024 calculation, was $1.32 per Unit.

In June 2025, the Company repurchased 48,148 Units pursuant to the Repurchase Right at the price of $1.32 per Unit. In June 2024, the Company repurchased 141,966 Units pursuant to the Repurchase Right at a price of $1.46 per Unit. In June 2023, the Company repurchased 526,433 Units pursuant to the Repurchase Right at a price of $6.36 per Unit.

The Company has an Option Repurchase Plan (the "Option Plan") which permits the grant of options to select officers and employees to purchase certain Units acquired by the Company pursuant to the Repurchase Right. The purpose of the Option Plan is to assist the Company to attract and retain officers and other key employees and to enable those individuals to acquire or increase their ownership interest in the Company in order to encourage them to promote the growth and profitability of the Company. The Option Plan is designed to align directly the financial interests of the participants with the financial interests of the Unitholders. The Company granted 24,074, 30,000 and 30,000 options to officers and key employees in June 2025, 2024 and 2023, respectively. All options granted were exercised on the same date.

All Units repurchased pursuant to the Repurchase Right are retired except for those Units issued through the exercise of options pursuant to the Option Plan. There were 4,610,646 outstanding Units following the Company's repurchase of Units and issuance of options in June 2025. There were no instruments outstanding at September 30, 2025 or 2024 that would potentially dilute net income per Unit.

------

[**Table of Contents**](#toc)

EVERFLOW EASTERN PARTNERS, L.P.

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

---

| | |
|:---|:---|
| Note 4. | Commitments and Contingencies |

---

The Company operates exclusively in Ohio and Pennsylvania of the United States in the business of oil and gas acquisition, exploration, development and production. The Company operates in an environment with many financial risks, including, but not limited to, the ability to acquire additional economically recoverable oil and gas reserves, the inherent risks of the search for, development of and production of oil and gas, the ability to sell oil and gas at prices which will provide attractive rates of return, the volatility and seasonality of oil and gas production and prices, and the highly competitive and, at times, seasonal nature of the industry and worldwide economic conditions. The Company's ability to expand its reserve base and diversify its operations is also dependent upon the Company's ability to obtain the necessary capital through operating cash flow, borrowings or equity offerings. Various federal, state and governmental agencies are considering, and some have adopted, laws and regulations regarding environmental protection which could adversely affect the proposed business activities of the Company. The Company cannot predict what effect, if any, current and future regulations may have on the operations of the Company.

The Company has multiple contracts with a gas purchaser which obligate the gas purchaser to purchase, and the Company to sell and deliver, certain quantities of natural gas production from the Company's oil and gas properties throughout the contract periods. The Company may elect to lock-in specific volumes of natural gas to be sold in specific months at a mutually agreeable price. The Company has elected to lock-in 1,240,000 MCF from October 2025 through April 2027 at various monthly weighted-average pricing provisions averaging $3.43 per MCF, net of regional basis adjustments. Pricing provisions with the gas purchaser apply to certain fixed quantities on a monthly basis with excess monthly quantities being priced based on the monthly settlement price, net of a regional basis adjustment. The impact of these contracts on the Company's future oil and gas sales cannot fully be measured until actual production volumes and prices have been determined. Management believes the Company can meet its delivery commitments based on estimated production.

------

[**Table of Contents**](#toc)

### Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
The following discussion is intended to assist in the understanding of the Company's liquidity, capital resources and results of operations. It is suggested that this information be read in conjunction with the Company's interim consolidated financial statements, the related notes to consolidated financial statements and the Company's 2024 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 25, 2025.

**Liquidity and Capital Resources**

The following table summarizes the Company's financial position at September 30, 2025 and December 31, 2024:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | September 30, 2025 | September 30, 2025 | December 31, 2024 | December 31, 2024 |
|  | Amount | % | Amount | % |
|  | (Amounts in Thousands) | (Amounts in Thousands) | (Amounts in Thousands) | (Amounts in Thousands) |
| Working capital | $38071 | 86% | $34858 | 85% |
| Property and equipment (net) | 5909 | 14 | 6079 | 15 |
| Other | 279 |  | 268 |  |
| Total | $44259 | 100% | $41205 | 100% |
| Long-term liabilities | $21764 | 49% | $20870 | 51% |
| Partners' equity | 22495 | 51 | 20335 | 49 |
| Total | $44259 | 100% | $41205 | 100% |

---

Working capital of $38.1 million as of September 30, 2025 represented an increase of $3.2 million from December 31, 2024, due primarily to an increase in investments and a decrease in accrued expenses offset somewhat by a decrease in cash and equivalents and an increase in accounts payable. The increase in investments is primarily the result of additional purchases of shares in a mutual fund during the nine month period ended September 30, 2025. The decrease in accrued expenses is primarily the effect of all payroll and retirement plan contributions accrued at December 31, 2024 being paid during the nine months ended September 30, 2025. The increase in accounts payable is primarily the result of additional production and related other payables outstanding at September 30, 2025 as compared to the prior comparable reporting date.

Long-term liabilities of $21.8 million as of September 30, 2025, represented an increase of $894,000 from December 31, 2024, due primarily to accretion associated with asset retirement obligations and additional operational advances collected during the nine month period ended September 30, 2025.

------

[**Table of Contents**](#toc)

Partners' equity of $22.5 million as of September 30, 2025 represented an increase of $2.2 million from December 31, 2024, due primarily to net income recognized during the nine month period ended September 30, 2025.

The Company generally funds its operations with cash generated by operations and/or existing cash and equivalent balances. The Company has had no borrowings in 2025 or 2024 and no principal indebtedness was outstanding as of November 7, 2025. The Company's cash flow provided by operations before the change in working capital was $3.4 million during the nine months ended September 30, 2025, an increase of $1.8 million as compared to $1.6 million of cash flow provided by operations before the change in working capital during the prior comparable period. Changes in working capital from operations other than cash and equivalents decreased cash by $194,000 during the nine months ended September 30, 2025. Cash flows provided by operating activities was $3.2 million for the nine months ended September 30, 2025.

Management of the Company believes cash flows and existing cash and equivalents should be sufficient to meet the current funding requirements of ongoing operations, capital investments to develop and/or purchase oil and gas properties and the repurchase of Units pursuant to the 2026 Repurchase Right, if necessary. The Company used existing cash and equivalents to fund the repurchase of Units related to the 2025 Repurchase Right amounting to approximately $64,000 in July 2025.

The Company has multiple contracts with a gas purchaser which obligate the gas purchaser to purchase, and the Company to sell and deliver, certain quantities of natural gas production from the Company's oil and gas properties throughout the contract periods. The Company may elect to lock-in specific volumes of natural gas to be sold in specific months at a mutually agreeable price. The Company has elected to lock-in 1,240,000 MCF from October 2025 through April 2027 at various monthly weighted-average pricing provisions averaging $3.43 per MCF, net of regional basis adjustments. Pricing provisions with the gas purchaser apply to certain fixed quantities on a monthly basis with excess monthly quantities being priced based on the monthly settlement price, net of a regional basis adjustment. The impact of these contracts on the Company's future oil and gas sales cannot fully be measured until actual production volumes and prices have been determined. Management believes the Company can meet its delivery commitments based on estimated production.

------

[**Table of Contents**](#toc)

**Results of Operations**

The following table and discussion is a review of the results of operations of the Company for the three and nine month periods ended September 30, 2025 and 2024. All items in the table are calculated as a percentage of total revenues. This table should be read in conjunction with the discussions of select items below:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Three Months | Three Months | Nine Months | Nine Months |
|  | Ended September 30, | Ended September 30, | Ended September 30, | Ended September 30, |
|  | 2025 | 2024 | 2025 | 2024 |
| Revenues: |  |  |  |  |
| Crude oil and natural gas sales | 92% | 92% | 93% | 92% |
| Well management and operating and other | 8 | 8 | 7 | 8 |
| Total revenues | 100% | 100% | 100% | 100% |
| Expenses: |  |  |  |  |
| Production costs | 40 | 56 | 33 | 47 |
| Well management and operating | 4 | 5 | 4 | 5 |
| Depreciation, depletion and amortization | 6 | 9 | 4 | 8 |
| Accretion expense | 16 | 30 | 14 | 25 |
| General and administrative expense | 39 | 60 | 29 | 50 |
| Total expenses | 105% | 160% | 84% | 135% |
| Other income: |  |  |  |  |
| Investment income | 30 | 59 | 22 | 39 |
| Gain (loss) on disposal of property and equipment | (1) | (1) | 2 | 2 |
| Total other income | 29% | 58% | 24% | 41% |
| Net income (loss) | 24% | (2)% | 40% | 6% |

---

Revenues for the three month period ended September 30, 2025 increased $429,000, or 44%, as compared to the prior comparable period. Revenues for the nine month period ended September 30, 2025 increased $1.9 million, or 54%, as compared to the prior comparable period. Both revenue variances were primarily the result of increases in crude oil and natural gas sales.

Crude oil and natural gas sales increased $404,000, or 45%, during the three month period ended September 30, 2025 as compared to the prior comparable period. The increase was primarily due to higher average natural gas prices received and additional natural gas and crude oil volumes produced during the three month period ended September 30, 2025 as compared to the prior comparable period, offset somewhat by lower average crude oil prices received during the three month period ended September 30, 2025 as compared to the prior comparable period. Crude oil and natural gas sales increased $1.8 million, or 56%, during the nine month period ended September 30, 2025 as compared to the prior comparable period. The increase was primarily the result of higher average natural gas prices received and additional natural gas volumes produced during the nine month period ended September 30, 2025 as compared to the prior comparable period, offset somewhat by lower average crude oil prices received during the nine month period ended September 30, 2025 as compared to the prior comparable period. The increase in natural gas volumes produced during the three and nine month periods ended September 30, 2025 as compared to the prior comparable periods was primarily the result of fewer Company operated properties being voluntarily shut-in during the three and nine month periods ended September 30, 2025 that were shut-in during the prior comparable periods.

------

[**Table of Contents**](#toc)

Accretion expense decreased $62,000, or 22%, during the three month period ended September 30, 2025 as compared to the prior comparable period. Accretion expense decreased $147,000, or 17%, during the nine month period ended September 30, 2025 as compared to the prior comparable period. Both decreases were primarily the the result of more asset retirement obligations being fully accreted at January 1, 2025 as compared to January 1, 2024, which resulted in less discounted asset retirement obligations available to accrete during the three and nine month periods ended September 30, 2025 as compared to the prior comparable periods.

Investment income decreased $152,000, or 27%, during the three month period ended September 30, 2025 as compared to the prior comparable period. Investment income decreased $154,000, or 11%, during the nine month period ended September 30, 2025. Both decreases were primarily due to lower dividend and interest rates yielded on investments during the three and nine month periods ended September 30, 2025 as compared to the prior comparable periods.

The Company reported net income of $337,000 during the three month period ended September 30, 2025 as compared to a net loss of $24,000 during the three month period ended September 30, 2024. Net income represented 24% of total revenues during the three month period ended September 30, 2025, whereas net loss represented 2% of total revenues during the three month period ended September 30, 2024. The Company reported net income of $2.2 million and $203,000 during the nine month periods ended September 30, 2025 and 2024, respectively, representing 40% and 6% of total revenues during the nine month periods ended September 30, 2025 and 2024, respectively. The increases in net income were primarily the result of an increase in crude oil and natural gas sales and a decrease in accretion expense during the three and nine month periods ended September 30, 2025 as compared to the prior comparable periods, offset somewhat by a decrease in investment income during the three and nine month periods ended September 30, 2025 as compared to the prior comparable periods.

**Critical Accounting Policies**

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The critical accounting policies that affect the Company's more complex judgments and estimates are described in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024.

------

[**Table of Contents**](#toc)

**Forward-Looking Statements**

Except for historical financial information contained in this Form 10-Q, the statements made in this report are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended ("Exchange Act"). In addition, words such as "expects," "anticipate," "intends," "plans," "believes," "estimates," variations of such words and similar expressions are intended to identify forward-looking statements. Factors that may cause actual results to differ materially from those in the forward-looking statements include price fluctuations in the gas market in the Appalachian Basin, actual oil and gas production and the ability to locate economically productive oil and gas prospects for development by the Company. In addition, any forward-looking statements speak only as of the date on which such statement is made and the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

### Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
This information has been omitted, as the Company qualifies as a smaller reporting company.

### Item 4. CONTROLS AND PROCEDURES
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Disclosure Controls and Procedures</u>. As of the end of the period covered by this report, management performed, with the participation of our Principal Executive Officer (the "CEO") and Principal Financial and Accounting Officer (the "CFO"), an evaluation of the effectiveness of our disclosure controls and procedures as defined in Exchange Act Rules 13a-15 (the "evaluation"). Our disclosure controls and procedures are designed to provide reasonable assurance that information required to be disclosed in the reports we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms, and that such information is accumulated and communicated to our management, including our CEO and CFO, to allow timely decisions regarding required disclosures. Based on the evaluation, management, including our CEO and CFO, concluded that our disclosure controls and procedures were effective as of the end of the period covered by this report.

The certifications of the Company's CEO and CFO are attached as Exhibits 31.1 and 31.2 to this Quarterly Report on Form 10-Q and include, in paragraph 4 of such certifications, information concerning the Company's disclosure controls and procedures and internal control over financial reporting. Such certifications should be read in conjunction with the information contained in this Item 4., including the information incorporated by reference to our filing on Form 10-K for the year ended December 31, 2024, for a more complete understanding of the matters covered by such certifications.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Changes in internal control over financial reporting</u>. No change in our internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) occurred during our most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

------

[**Table of Contents**](#toc)

---

| | |
|:---|:---|
| Part II: | OTHER INFORMATION |

---

### Item 5. OTHER INFORMATION
During the nine month period ended September 30, 2025, none of EEI's or EMC's directors or officers (as defined in Rule 16a-1(f) of the Exchange Act) adopted or terminated a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement" (as such items are defined in Item 408 of Regulation S-K), nor do any of the directors or officers (as defined in Rule 16a-1(f) of the Exchange Act) currently maintain any such arrangements.

### Item 6. EXHIBITS

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibit 31.1 | [Certification of CEO Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002](ex_883358.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibit 31.2 | [Certification of CFO Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002](ex_883359.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibit 32.1 | [Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002](ex_883360.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101.INS | Inline XBRL Instance Document – the instance document does not appear in the Interactive Data File as its XBRL tags are embedded within the Inline XBRL document |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101.SCH | Inline XBRL Taxonomy Extension Schema Document |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101.DEF | Inline XBRL Taxonomy Definition Linkbase Document |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104 | Cover page Interactive Data File (formatted as Inline XBRL and combined in Exhibit 101) |

---

------

[**Table of Contents**](#toc)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | EVERFLOW EASTERN PARTNERS, L.P. | EVERFLOW EASTERN PARTNERS, L.P. |
|  | By: | everflow management limited, llc |
|  |  | General Partner |
|  | By: | everflow management corporation |
|  |  | Managing Member |
| Dated: November 10, 2025 | By: | /s/ Michael W. Rathburn |
|  |  | Michael W. Rathburn |
|  |  | Vice President, Secretary-Treasurer and<br> Principal Financial and Accounting Officer |
|  |  | (Duly Authorized Officer) |

---

## Exhibit 31.1

Exhibit 31.1

**CERTIFICATION OF CHIEF EXECUTIVE OFFICER** 

**<u>PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002</u>**

I, Brian A. Staebler, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this Quarterly Report on Form 10-Q of Everflow Eastern Partners, L.P.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(c) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and we have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) evaluated the effectiveness of the registrant's disclosure controls and presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this quarterly report, based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) disclosed in this quarterly report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent function):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) all significant deficiencies and material weaknesses in the design or operation of internal control which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Dated: November 10, 2025 |  |
|  | /s/ Brian A. Staebler |
|  | Brian A. Staebler |
|  | President and Principal Executive Officer |

---

## Exhibit 31.2

Exhibit 31.2

**CERTIFICATION OF CHIEF FINANCIAL OFFICER** 

**<u>PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002</u>**

I, Michael W. Rathburn, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this Quarterly Report on Form 10-Q of Everflow Eastern Partners, L.P.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(c) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and we have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) evaluated the effectiveness of the registrant's disclosure controls and presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this quarterly report, based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) disclosed in this quarterly report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent function):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) all significant deficiencies and material weaknesses in the design or operation of internal control which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Dated: November 10, 2025 |  |
|  | /s/ Michael W. Rathburn |
|  | Michael W. Rathburn |
|  | Vice President, Secretary-Treasurer and Principal<br> Financial and Accounting Officer |

---

## Exhibit 32.1

Exhibit 32.1

**CERTIFICATION PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

**<u>(Subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code)</u>**

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (Subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code), each of the undersigned, Brian A. Staebler, President and Principal Executive Officer of Everflow Eastern Partners, L.P. (the "Company"), and Michael W. Rathburn, Vice President, Secretary-Treasurer and Principal Financial and Accounting Officer of the Company, hereby certify that, to his knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the Company's Quarterly Report on Form 10-Q for the period ended September 30, 2025 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company as of, and for, the periods presented in the Report.

---

| | |
|:---|:---|
| Dated: November 10, 2025 |  |
|  | /s/ Brian A. Staebler |
|  | Brian A. Staebler |
|  | President and Principal Executive<br> Officer |
|  | /s/ Michael W. Rathburn |
|  | Michael W. Rathburn |
|  | Vice President, Secretary- Treasurer and<br> Principal Financial and Accounting<br> Officer |

---