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Lonestar Resources US Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2021 10-Q, filed Aug 10, 2021. Its latest SEC filing is a SC 13G/A from Feb 11, 2022.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Produces and sells oil, natural gas liquids and natural gas from the Eagle Ford Shale to commodity purchasers.

How Did They Make Money?

Purchasers pay for crude oil, natural gas liquids and natural gas at prices linked to market indexes; the company invoices monthly for delivered volumes and typically has payment terms under a month.

FY2019 revenue

Who Were Their Customers?

Purchasers buy oil and gas directly, day to day or under short-term contracts; a third-party broker handles marketing for NGL and natural gas sales.

Customers above 10% of revenue, FY2019
of revenue from six customers (23%, 17%, 16%, 14%, 13%, 10%)

Did Revenues Turn Into Profits?

No. It lost $103M in FY2019.

Operating income, FY2019
−21% of revenue
▼ Now a loss vs FY2018 ($50.5M, 25%)
Net income, FY2019
−53% of revenue
▼ Now a loss vs FY2018 ($19.3M, 10%)

How Were They Changing?

Since the FY2020 annual report
Latest quarter: Q2 FY2021, the three months to Jun 30, 2021
Revenue
▲ +167%
vs $17.2M in Q2 FY2020
Net income
▼ −56% (Loss)
vs −$40.6M in Q2 FY2020
  • Oct 8, 2021 Penn Virginia completed its acquisition of Lonestar Lonestar became a wholly owned subsidiary, and its shares stopped trading on OTCQX.
  • Jul 12, 2021 Lonestar signed a merger agreement with Penn Virginia The agreement would exchange Lonestar shares for Penn Virginia shares.
  • May 12, 2021 Lonestar gave 2021 operating and financial guidance The presentation projected production, Adjusted EBITDAX and free cash flow ranges for 2021.

Grew. Revenue grew 2.5x in 4 years, from $79.5M in FY2015 to $195.2M in FY2019, about 25% a year.

Broader formation targets The older report framed development around the Eagle Ford's crude oil window; the latest report also describes evaluating formations above and below the Eagle Ford, including Austin Chalk, Buda, Georgetown, Woodbine and Wilcox.

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