2014 Q2 Form 10-Q Financial Statement

#000110465914036956 Filed on May 09, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q1
Revenue $148.0M $144.7M $71.02M
YoY Change 17.44% 103.69% 134.83%
Cost Of Revenue $19.70M $20.10M $13.90M
YoY Change 11.93% 44.6% 113.85%
Gross Profit $128.3M $124.5M $57.20M
YoY Change 18.36% 117.66% 140.34%
Gross Profit Margin 86.7% 86.06% 80.54%
Selling, General & Admin $16.40M $14.50M $11.00M
YoY Change 7.19% 31.82% 80.33%
% of Gross Profit 12.78% 11.65% 19.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $71.07M $66.90M $41.98M
YoY Change 34.53% 59.38% 49.77%
% of Gross Profit 55.4% 53.74% 73.38%
Operating Expenses $116.3M $196.6M $73.08M
YoY Change 11.79% 169.07% 58.64%
Operating Profit $31.67M -$51.98M -$2.060M
YoY Change 44.28% 2423.2% -86.98%
Interest Expense $33.81M $33.95M $10.87M
YoY Change 103.44% 212.39% 543.02%
% of Operating Profit 106.78%
Other Income/Expense, Net -$33.80M -$33.94M -$10.86M
YoY Change 103.44% 212.44% 545.4%
Pretax Income -$2.139M -$85.92M -$12.92M
YoY Change -140.12% 564.87% -26.16%
Income Tax -$41.00K -$2.270M -$4.973M
% Of Pretax Income
Net Earnings -$2.098M -$83.65M -$7.949M
YoY Change -162.85% 952.27% -54.58%
Net Earnings / Revenue -1.42% -57.82% -11.19%
Basic Earnings Per Share
Diluted Earnings Per Share -$308.8K -$12.67M -$1.197M
COMMON SHARES
Basic Shares Outstanding 70.27M shares 68.37M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.70M $14.60M $50.60M
YoY Change 141.46% -71.15% 450.0%
Cash & Equivalents $29.66M $14.65M $50.63M
Short-Term Investments
Other Short-Term Assets $1.419M $4.378M $22.60M
YoY Change -86.76% -80.63% 296.49%
Inventory
Prepaid Expenses
Receivables $103.5M $105.3M
Other Receivables $2.396M $1.150M
Total Short-Term Assets $189.8M $192.0M $135.3M
YoY Change 48.72% 41.88% 219.79%
LONG-TERM ASSETS
Property, Plant & Equipment $2.003B $2.084B $1.658B
YoY Change -15.96% 25.69% 157.37%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $50.94M $52.99M $26.00M
YoY Change -8.06% 103.82% 1200.0%
Total Long-Term Assets $2.054B $2.138B $1.684B
YoY Change -15.78% 26.95% 160.59%
TOTAL ASSETS
Total Short-Term Assets $189.8M $192.0M $135.3M
Total Long-Term Assets $2.054B $2.138B $1.684B
Total Assets $2.243B $2.330B $1.820B
YoY Change -12.57% 28.06% 164.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $34.27M $24.80M $6.200M
YoY Change 52.72% 299.98% -87.46%
Accrued Expenses $208.0M $268.1M $149.4M
YoY Change 37.75% 79.43% 195.98%
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 $289.4M $330.0M $168.8M
YoY Change 58.75% 95.5% 14.27%
LONG-TERM LIABILITIES
Long-Term Debt $1.654B $1.701B $796.5M
YoY Change 8.74% 113.59% 201.69%
Other Long-Term Liabilities $2.665M $2.491M $25.90M
YoY Change 144.94% -90.38% 3854.2%
Total Long-Term Liabilities $1.696B $1.742B $796.5M
YoY Change -2.59% 118.75% 191.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $289.4M $330.0M $168.8M
Total Long-Term Liabilities $1.696B $1.742B $796.5M
Total Liabilities $1.986B $2.072B $1.182B
YoY Change 3.22% 75.26% 181.11%
SHAREHOLDERS EQUITY
Retained Earnings -$616.8M -$614.7M
YoY Change 221.76%
Common Stock $876.6M $873.8M
YoY Change 5.05%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.155M $1.313M
YoY Change 256.2%
Treasury Stock Shares
Shareholders Equity $257.6M $257.8M $637.1M
YoY Change
Total Liabilities & Shareholders Equity $2.243B $2.330B $1.820B
YoY Change -12.57% 28.06% 164.23%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income -$2.098M -$83.65M -$7.949M
YoY Change -162.85% 952.27% -54.58%
Depreciation, Depletion And Amortization $71.07M $66.90M $41.98M
YoY Change 34.53% 59.38% 49.77%
Cash From Operating Activities $68.20M $105.4M $62.20M
YoY Change 543.4% 69.45% 81.34%
INVESTING ACTIVITIES
Capital Expenditures -$152.7M -$122.8M -$132.5M
YoY Change 20.14% -7.32% 82.76%
Acquisitions
YoY Change
Other Investing Activities $147.5M
YoY Change -123.73%
Cash From Investing Activities -$5.200M -$122.8M -$132.5M
YoY Change -99.31% -7.32% 82.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $649.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -47.90M -1.100M 102.1M
YoY Change -106.84% -101.08% 155.25%
NET CHANGE
Cash From Operating Activities 68.20M 105.4M 62.20M
Cash From Investing Activities -5.200M -122.8M -132.5M
Cash From Financing Activities -47.90M -1.100M 102.1M
Net Change In Cash 15.10M -18.50M 31.80M
YoY Change -139.32% -158.18% 1666.67%
FREE CASH FLOW
Cash From Operating Activities $68.20M $105.4M $62.20M
Capital Expenditures -$152.7M -$122.8M -$132.5M
Free Cash Flow $220.9M $228.2M $194.7M
YoY Change 60.42% 17.21% 82.3%

Facts In Submission

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CY2013Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-925000 USD
CY2014Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
37170000 USD
CY2013Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
28847000 USD
CY2014Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-537000 USD
CY2013Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
41000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
97432000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
62203000 USD
CY2014Q1 us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
114803000 USD
CY2013Q1 us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
132538000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-114803000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-132538000 USD
CY2013Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
102450000 USD
CY2014Q1 us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
495000 USD
CY2013Q1 us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
368000 USD
CY2014Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
649000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-1144000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
102082000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-18515000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
31747000 USD
CY2014Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
134000000 USD
CY2013Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
82562000 USD
CY2014Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14648000 USD
CY2013Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
50625000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
18878000 USD
CY2013Q4 us-gaap Capitalized Costs Proved Properties
CapitalizedCostsProvedProperties
2817062000 USD
CY2014Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-614721000 USD
CY2014Q1 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
1150000 USD
CY2013Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
1090000 USD
CY2014Q1 us-gaap Contractual Obligation
ContractualObligation
30125000 USD
CY2014Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
500000 USD
CY2013Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
400000 USD
CY2014Q1 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
20434000 USD
CY2014Q1 us-gaap Contractual Obligation Due In Third Year
ContractualObligationDueInThirdYear
1877000 USD
CY2014Q1 mpo Contractual Obligation Due After Third Year
ContractualObligationDueAfterThirdYear
5588000 USD
CY2014Q1 us-gaap Contractual Obligation Due In Second Year
ContractualObligationDueInSecondYear
2226000 USD
CY2014Q1 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
29700000 USD

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