DAYBREAK OIL & GAS, INC.
daybreakoilandgas.comNo Longer Reporting
The company has not filed an annual or quarterly report since its FY2023 10-K, filed Jan 24, 2024. Its latest SEC filing is a REVOKED from Aug 6, 2026.
10-K for FY2023, filed Jan 24, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Explores for, develops and produces crude oil and natural gas, selling its production to customers in the United States.
10-K for FY2023, filed Jan 24, 2024
How Did They Make Money?
The company sells crude oil and natural gas by delivered volume at prices tied to monthly market indexes, with adjustments for delivery, quality and local supply and demand; sales are counted in the delivery month.
10-K for FY2023, filed Jan 24, 2024The Company recognizes revenue under ASC 606, Revenue from Contracts with Customers (“Topic 606”). Under Topic 606, revenue is generally…View ↗
$1.6M
-
10-K for FY2023, filed Jan 24, 2024
$1.6M ↗
| Segment | Share | Revenue |
|---|---|---|
|
Crude Oil Sales
|
95% |
Crude Oil Sales, FY2023
$1.5M Sources
|
|
Natural Gas Sales
|
5.0% |
Natural Gas Sales, FY2023
$80K Sources
|
Who Were Their Customers?
Crude oil from each California project goes to one buyer, and Reabold natural gas goes to a single buyer.
10-K for FY2023, filed Jan 24, 2024
Did Revenues Turn Into Profits?
No. It lost $2.4M in FY2023.
How Were They Changing?
-
Nov 4, 2024
CEO and chair retired; Bennett Anderson became president and CEO
James F. Westmoreland retired from the CEO and chair roles, and Anderson took over as president and CEO.
Sources
8-K, filed Nov 4, 2024
On October 22, 2024, James F. Westmoreland, President and Chief Executive Officer and Interim Principal Financial Officer, advised the…View ↗
Grew. Revenue grew 2.2x in 4 years, from $742.9K in FY2019 to $1.6M in FY2023, about 21% a year.
California focus
The older report described operations in California and Michigan; the latest describes core activity in Kern, Monterey and Contra Costa counties in California.
10-K for FY2020, filed Jun 8, 2020 10-K for FY2023, filed Jan 24, 2024Modern technology including 3-D seismic helps us identify potential crude oil and natural gas reservoirs and to mitigate our risk. The…View ↗
Modern technology including 3-D seismic helps us identify potential crude oil and natural gas reservoirs and to mitigate our risk. The…View ↗
Natural gas sales
The older report said it had no natural gas revenue in California; the latest describes natural gas production from the Reabold project in Contra Costa County.
10-K for FY2020, filed Jun 8, 2020 10-K for FY2023, filed Jan 24, 2024The price we receive for crude oil sales in California is based on prices posted for Midway-Sunset crude oil delivery contracts, less…View ↗
We only have natural gas production from our Reabold subsidiary wells that are located in Contra Costa County in California. For the twelve…View ↗
Loading...
