2012 Q4 Form 10-Q Financial Statement

#000110465912076470 Filed on November 09, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q3
Revenue $88.90M $25.93M $92.46M
YoY Change 126.79% -71.95%
Cost Of Revenue $11.50M $6.600M $3.900M
YoY Change 91.67% 69.23%
Gross Profit $77.40M $19.40M $88.60M
YoY Change 133.13% -78.1%
Gross Profit Margin 87.06% 74.81% 95.83%
Selling, General & Admin $11.60M $7.900M $17.10M
YoY Change -68.9% -53.8%
% of Gross Profit 14.99% 40.72% 19.3%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $39.00M $30.69M $22.75M
YoY Change 34.02% 34.93% -15.44%
% of Gross Profit 50.39% 158.21% 25.67%
Operating Expenses $50.90M $54.50M $43.35M
YoY Change -23.46% 25.72%
Operating Profit $26.50M -$28.57M $49.11M
YoY Change -179.58% -158.17%
Interest Expense -$9.400M $908.0K $601.0K
YoY Change 571.43% 51.08%
% of Operating Profit -35.47% 1.22%
Other Income/Expense, Net -$828.0K -$598.0K
YoY Change 38.46%
Pretax Income -$1.800M -$29.40M $48.51M
YoY Change -95.42% -160.59%
Income Tax $600.0K -$11.59M $0.00
% Of Pretax Income 0.0%
Net Earnings -$2.400M -$17.80M $48.51M
YoY Change -93.89% -136.7%
Net Earnings / Revenue -2.7% -68.65% 52.47%
Basic Earnings Per Share
Diluted Earnings Per Share -$342.9K -$2.697M $7.348M
COMMON SHARES
Basic Shares Outstanding 66.61M shares 66.55M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.90M $4.700M $10.20M
YoY Change 158.9% -53.92%
Cash & Equivalents $18.88M $4.674M $10.22M
Short-Term Investments
Other Short-Term Assets $8.573M $1.500M $12.10M
YoY Change -22.06% -87.6%
Inventory $8.353M $7.036M $2.400M
Prepaid Expenses $220.0K $270.0K
Receivables $35.62M $22.60M
Other Receivables $3.866M $521.0K
Total Short-Term Assets $89.47M $36.27M $43.00M
YoY Change 85.97% -15.64%
LONG-TERM ASSETS
Property, Plant & Equipment $1.567B $806.0M $518.7M
YoY Change 173.03% 55.38%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $25.41M $14.05M $4.100M
YoY Change 930.12% 242.63%
Total Long-Term Assets $1.595B $820.0M $522.8M
YoY Change 176.57% 56.85%
TOTAL ASSETS
Total Short-Term Assets $89.47M $36.27M $43.00M
Total Long-Term Assets $1.595B $820.0M $522.8M
Total Assets $1.684B $856.3M $565.8M
YoY Change 169.59% 51.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.20M $39.49M $69.40M
YoY Change -18.29% -43.1%
Accrued Expenses $98.65M $64.51M
YoY Change 162.9%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $135.4M $113.2M $70.10M
YoY Change 57.74% 61.54%
LONG-TERM LIABILITIES
Long-Term Debt $694.0M $216.3M $198.6M
YoY Change 195.57% 8.91%
Other Long-Term Liabilities $1.189M $573.0K $19.10M
YoY Change 71.08% -97.0%
Total Long-Term Liabilities $871.1M $390.0M $217.7M
YoY Change 243.91% 79.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $135.4M $113.2M $70.10M
Total Long-Term Liabilities $871.1M $390.0M $217.7M
Total Liabilities $1.007B $503.2M $287.8M
YoY Change 196.78% 74.85%
SHAREHOLDERS EQUITY
Retained Earnings -$187.1M -$184.7M
YoY Change 405.73%
Common Stock $864.6M $537.7M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $677.5M $353.1M $277.9M
YoY Change
Total Liabilities & Shareholders Equity $1.684B $856.3M $565.8M
YoY Change 169.59% 51.34%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income -$2.400M -$17.80M $48.51M
YoY Change -93.89% -136.7%
Depreciation, Depletion And Amortization $39.00M $30.69M $22.75M
YoY Change 34.02% 34.93% -15.44%
Cash From Operating Activities $42.50M $34.70M $36.30M
YoY Change 10.97% -4.41% 1.4%
INVESTING ACTIVITIES
Capital Expenditures -$137.4M -$100.7M -$60.40M
YoY Change 71.96% 66.72% -35.88%
Acquisitions
YoY Change
Other Investing Activities -$351.3M $0.00
YoY Change
Cash From Investing Activities -$488.7M -$100.7M -$60.40M
YoY Change 511.64% 66.72% -35.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 460.4M 58.90M 23.80M
YoY Change 1086.6% 147.48% -63.44%
NET CHANGE
Cash From Operating Activities 42.50M 34.70M 36.30M
Cash From Investing Activities -488.7M -100.7M -60.40M
Cash From Financing Activities 460.4M 58.90M 23.80M
Net Change In Cash 14.20M -7.100M -300.0K
YoY Change -607.14% 2266.67% -104.55%
FREE CASH FLOW
Cash From Operating Activities $42.50M $34.70M $36.30M
Capital Expenditures -$137.4M -$100.7M -$60.40M
Free Cash Flow $179.9M $135.4M $96.70M
YoY Change 52.2% 40.02% -25.62%

Facts In Submission

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CY2012Q3 mpo Common Stock Number Of Votes Per Share
CommonStockNumberOfVotesPerShare
1 item
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
1664000 USD
mpo Stock Issued Public Offering Expenses
StockIssuedPublicOfferingExpenses
6400000 USD
CY2012Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
573000 USD
CY2012Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2012Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2012Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2012Q3 us-gaap Contractual Obligation
ContractualObligation
15233000 USD
CY2012Q3 mpo Contractual Obligation Due In Remainder Of Fiscal Year
ContractualObligationDueInRemainderOfFiscalYear
6931000 USD
CY2012Q3 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
1918000 USD
CY2012Q3 us-gaap Contractual Obligation Due In Fourth Year
ContractualObligationDueInFourthYear
1459000 USD
CY2012Q3 mpo Contractual Obligation Due After Fourth Year
ContractualObligationDueAfterFourthYear
3486000 USD
CY2012Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
149500000 USD
CY2012Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
910239 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
513838 shares
CY2012Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
220000000 USD
CY2012Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
18000000 shares
CY2012Q2 mpo Stock Issued During Period Value New Issues Net Of Estimated Offering Expense
StockIssuedDuringPeriodValueNewIssuesNetOfEstimatedOfferingExpense
213600000 USD
CY2011Q3 mpo Share Based Compensation Expense
ShareBasedCompensationExpense
12179000 USD
CY2011Q4 us-gaap Commodity Contract Asset Current
CommodityContractAssetCurrent
4957000 USD
CY2012Q3 us-gaap Assets Current
AssetsCurrent
36274000 USD
CY2011Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
12599000 USD
CY2012Q3 us-gaap Liabilities Current
LiabilitiesCurrent
113239000 USD
CY2011Q4 us-gaap Commodity Contract Asset Noncurrent
CommodityContractAssetNoncurrent
588000 USD
CY2011Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
10178000 USD
CY2011Q4 us-gaap Members Equity
MembersEquity
322496000 USD
CY2012Q3 us-gaap Stockholders Equity
StockholdersEquity
353065000 USD
CY2012Q3 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
389981000 USD
CY2012Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
856285000 USD
CY2012Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
2675000 USD
us-gaap Unrealized Gain Loss On Commodity Contracts
UnrealizedGainLossOnCommodityContracts
5591000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1568000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
157326000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
583000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1193000 USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-2954000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2224000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1323000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1211000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2151000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
122000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
94680000 USD
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
284875000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-284875000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
84667000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
103167000 USD
us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
65000000 USD
us-gaap Payments For Repurchase Of Redeemable Convertible Preferred Stock
PaymentsForRepurchaseOfRedeemableConvertiblePreferredStock
65000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
213587000 USD
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
7562000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
187525000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-2670000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
90614000 USD
us-gaap Interest Paid Net
InterestPaidNet
3176000 USD
CY2012Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
100000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
100000 USD
CY2012Q3 mpo Estimated Effective Income Tax Rate Continuing Operations
EstimatedEffectiveIncomeTaxRateContinuingOperations
0.813 pure
CY2011Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
49675000 shares
us-gaap Costs Incurred Acquisition Of Unproved Oil And Gas Properties
CostsIncurredAcquisitionOfUnprovedOilAndGasProperties
18200000 USD
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
18000000 shares

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