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Pressburg, LLC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2019 10-Q, filed Nov 6, 2019. Its latest SEC filing is a SC 13G/A from Jan 13, 2020.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Produces and sells oil, natural gas and natural gas liquids to energy purchasers from properties in Oklahoma’s Anadarko Basin.

How Did They Make Money?

Revenue comes from selling oil, natural gas and natural gas liquids for the value of production delivered; payment follows delivery, with operated-property sales generally paid sooner than non-operated-property sales.

FY2018 revenue

Who Were Their Customers?

Oil buyers generally take delivery at or near the wellhead; for natural gas, processors gather and transport it, then sell the extracted liquids and remaining gas.

Did Revenues Turn Into Profits?

No. It lost $140.7M in FY2018.

Operating income, FY2018
43% of revenue
▲ +1028% vs FY2017 ($19.9M, 12%)
Net income, FY2018
−27% of revenue
▼ Now a loss vs FY2017 ($18.5M, 12%)

How Were They Changing?

Since the FY2018 annual report
Latest quarter: Q3 FY2019, the three months to Sep 30, 2019
Revenue
▲ +59%
vs $83.4M in Q3 FY2018
Net income
▲ Now profitable
vs −$301.2M in Q3 FY2018
  • Dec 6, 2019 Roan suspended NYSE trading and requested delisting
  • Dec 6, 2019 Roan completed its merger and became a wholly owned subsidiary Eligible common shares were converted into $1.52 in cash per share.
  • Nov 6, 2019 Roan withdrew prior guidance and suspended development and completion activity

Shrank. Revenue fell 86% in 4 years, from $3.6B in FY2014 to $517.8M in FY2018, about 39% a year.

Narrower geographic focus The older report described properties across several U.S. regions; the latest centers the business on developing assets in Oklahoma’s Anadarko Basin.

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