2013 Q4 Form 10-Q Financial Statement

#000110465913084638 Filed on November 14, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $161.0M $111.5M $25.93M
YoY Change 81.1% 329.99% -71.95%
Cost Of Revenue $20.20M $21.80M $6.600M
YoY Change 75.65% 230.3% 69.23%
Gross Profit $140.8M $89.70M $19.40M
YoY Change 81.91% 362.37% -78.1%
Gross Profit Margin 87.45% 80.44% 74.81%
Selling, General & Admin $15.90M $16.50M $7.900M
YoY Change 37.07% 108.86% -53.8%
% of Gross Profit 11.29% 18.39% 40.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $80.80M $74.79M $30.69M
YoY Change 107.18% 143.68% 34.93%
% of Gross Profit 57.39% 83.38% 158.21%
Operating Expenses $97.10M $122.4M $54.50M
YoY Change 90.77% 124.55% 25.72%
Operating Profit $43.70M -$10.87M -$28.57M
YoY Change 64.91% -61.95% -158.17%
Interest Expense -$29.70M $25.95M $908.0K
YoY Change 215.96% 2757.93% 51.08%
% of Operating Profit -67.96%
Other Income/Expense, Net -$25.94M -$828.0K
YoY Change 3033.21% 38.46%
Pretax Income -$446.1M -$36.81M -$29.40M
YoY Change 24683.33% 25.24% -160.59%
Income Tax -$130.3M -$13.21M -$11.59M
% Of Pretax Income
Net Earnings -$315.8M -$23.61M -$17.80M
YoY Change 13058.33% 32.6% -136.7%
Net Earnings / Revenue -196.15% -21.17% -68.65%
Basic Earnings Per Share
Diluted Earnings Per Share -$47.85M -$3.576M -$2.697M
COMMON SHARES
Basic Shares Outstanding 68.41M shares 68.52M shares 66.55M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $33.20M $25.00M $4.700M
YoY Change 75.66% 431.91% -53.92%
Cash & Equivalents $33.16M $24.95M $4.674M
Short-Term Investments
Other Short-Term Assets $693.0K $691.0K $1.500M
YoY Change -91.92% -53.93% -87.6%
Inventory $7.036M
Prepaid Expenses $270.0K
Receivables $102.5M $88.22M $22.60M
Other Receivables $1.090M $2.844M $521.0K
Total Short-Term Assets $192.6M $165.7M $36.27M
YoY Change 115.26% 356.71% -15.64%
LONG-TERM ASSETS
Property, Plant & Equipment $2.095B $2.481B $806.0M
YoY Change 33.65% 207.78% 55.38%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $54.60M $57.90M $14.05M
YoY Change 114.84% 312.18% 242.63%
Total Long-Term Assets $2.150B $2.539B $820.0M
YoY Change 34.8% 209.61% 56.85%
TOTAL ASSETS
Total Short-Term Assets $192.6M $165.7M $36.27M
Total Long-Term Assets $2.150B $2.539B $820.0M
Total Assets $2.342B $2.704B $856.3M
YoY Change 39.08% 215.84% 51.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.49M $34.69M $39.49M
YoY Change -26.38% -12.16% -43.1%
Accrued Expenses $204.4M $198.7M $64.51M
YoY Change 107.18% 208.02%
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 $253.8M $261.8M $113.2M
YoY Change 87.37% 131.23% 61.54%
LONG-TERM LIABILITIES
Long-Term Debt $1.701B $1.606B $216.3M
YoY Change 145.12% 642.56% 8.91%
Other Long-Term Liabilities $1.954M $1.862M $573.0K
YoY Change 64.34% 224.96% -97.0%
Total Long-Term Liabilities $1.748B $1.788B $390.0M
YoY Change 100.7% 358.46% 79.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $253.8M $261.8M $113.2M
Total Long-Term Liabilities $1.748B $1.788B $390.0M
Total Liabilities $2.002B $2.050B $503.2M
YoY Change 98.91% 307.33% 74.85%
SHAREHOLDERS EQUITY
Retained Earnings -$531.1M -$215.3M -$184.7M
YoY Change 183.86% 16.58%
Common Stock $871.7M $870.6M $537.7M
YoY Change 0.83% 61.9%
Preferred Stock
YoY Change
Treasury Stock (at cost) $664.0K $605.0K
YoY Change
Treasury Stock Shares
Shareholders Equity $340.0M $654.7M $353.1M
YoY Change
Total Liabilities & Shareholders Equity $2.342B $2.704B $856.3M
YoY Change 39.08% 215.84% 51.34%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income -$315.8M -$23.61M -$17.80M
YoY Change 13058.33% 32.6% -136.7%
Depreciation, Depletion And Amortization $80.80M $74.79M $30.69M
YoY Change 107.18% 143.68% 34.93%
Cash From Operating Activities $47.20M $107.1M $34.70M
YoY Change 11.06% 208.65% -4.41%
INVESTING ACTIVITIES
Capital Expenditures -$136.2M -$177.9M -$100.7M
YoY Change -0.87% 76.66% 66.72%
Acquisitions
YoY Change
Other Investing Activities $1.600M $0.00 $0.00
YoY Change -100.46%
Cash From Investing Activities -$134.5M -$178.0M -$100.7M
YoY Change -72.48% 76.76% 66.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 95.60M 83.50M 58.90M
YoY Change -79.24% 41.77% 147.48%
NET CHANGE
Cash From Operating Activities 47.20M 107.1M 34.70M
Cash From Investing Activities -134.5M -178.0M -100.7M
Cash From Financing Activities 95.60M 83.50M 58.90M
Net Change In Cash 8.300M 12.60M -7.100M
YoY Change -41.55% -277.46% 2266.67%
FREE CASH FLOW
Cash From Operating Activities $47.20M $107.1M $34.70M
Capital Expenditures -$136.2M -$177.9M -$100.7M
Free Cash Flow $183.4M $285.0M $135.4M
YoY Change 1.95% 110.49% 40.02%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Registrant Name
EntityRegistrantName
Midstates Petroleum Company, Inc.
dei Entity Central Index Key
EntityCentralIndexKey
0001533924
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
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us-gaap Interest Expense
InterestExpense
53438000 USD
us-gaap Interest Expense
InterestExpense
3587000 USD
CY2013Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-25943000 USD
CY2012Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-828000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-53421000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-3358000 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-36814000 USD
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-29395000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-44405000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
9638000 USD
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-13208000 USD
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-11592000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-16188000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
157326000 USD
CY2013Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.40
CY2012Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.27
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.57
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.54
CY2013Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
65821000 shares
CY2012Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
65634000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
65740000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
58080000 shares
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
605000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2622000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
6068000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
3547000 USD
CY2013Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2012Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-2954000 USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
13544000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1211000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-3027000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2151000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
89666000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
122000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
186000 USD
CY2012Q4 us-gaap Assets Noncurrent Other Than Noncurrent Investments And Property Plant And Equipment
AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment
27130000 USD
CY2013Q3 us-gaap Assets Noncurrent Other Than Noncurrent Investments And Property Plant And Equipment
AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment
58203000 USD
us-gaap Unrealized Gain Loss On Commodity Contracts
UnrealizedGainLossOnCommodityContracts
5591000 USD
us-gaap Unrealized Gain Loss On Commodity Contracts
UnrealizedGainLossOnCommodityContracts
-26997000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1568000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4921000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
157326000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-16188000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
583000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4156000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1193000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
52598000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
94680000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
179941000 USD
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
284875000 USD
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
437521000 USD
mpo Payments To Acquire Property Under Acquisition
PaymentsToAcquirePropertyUnderAcquisition
621748000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-284875000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-1059269000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
84667000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
946450000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
103167000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
34300000 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 Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
213587000 USD
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
7562000 USD
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
26142000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
605000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
187525000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
885403000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-2670000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
6075000 USD
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7344000 USD
CY2012Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
4674000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
90614000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
100500000 USD
us-gaap Interest Paid Net
InterestPaidNet
3176000 USD
us-gaap Interest Paid Net
InterestPaidNet
11671000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
6400000 USD
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
24600000 USD
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
3200000 USD
CY2012Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2013Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2013Q3 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
47200000 USD
CY2012Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
25200000 USD
CY2013Q3 mpo Field Inventory Noncurrent
FieldInventoryNoncurrent
10500000 USD
CY2013Q3 mpo Accrued Oil And Gas Capital Expenditures Current
AccruedOilAndGasCapitalExpendituresCurrent
69300000 USD
CY2013Q3 us-gaap Interest Payable Current
InterestPayableCurrent
53800000 USD
CY2013Q3 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
45000000 USD
CY2013Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
9500000 USD
CY2013Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
21100000 USD
CY2012Q4 mpo Accrued Oil And Gas Capital Expenditures Current
AccruedOilAndGasCapitalExpendituresCurrent
69000000 USD
CY2012Q4 us-gaap Interest Payable Current
InterestPayableCurrent
16200000 USD
CY2012Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
13400000 USD
mpo Provision For Federal Or State Income Tax Prior To Company Reorganization
ProvisionForFederalOrStateIncomeTaxPriorToCompanyReorganization
0 USD
CY2012Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
886000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1568000 USD
CY2013Q3 us-gaap Preferred Stock Value
PreferredStockValue
USD
CY2012Q4 us-gaap Preferred Stock Value
PreferredStockValue
USD
us-gaap Gas Gathering Transportation Marketing And Processing Costs
GasGatheringTransportationMarketingAndProcessingCosts
2583000 USD
CY2013Q3 us-gaap Gas Gathering Transportation Marketing And Processing Costs
GasGatheringTransportationMarketingAndProcessingCosts
2583000 USD
us-gaap Other Expenses
OtherExpenses
614000 USD
CY2013Q3 us-gaap Other Expenses
OtherExpenses
614000 USD
CY2012Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
90735000 USD
CY2013Q3 us-gaap Deferred Tax Assets State Taxes
DeferredTaxAssetsStateTaxes
19794000 USD
CY2012Q4 us-gaap Deferred Tax Assets State Taxes
DeferredTaxAssetsStateTaxes
12258000 USD
CY2013Q3 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
360000 USD
CY2012Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
985000 USD
CY2013Q3 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
130437000 USD
CY2012Q4 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
103978000 USD
CY2013Q3 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
280428000 USD
CY2012Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
260715000 USD

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