2014 Q3 Form 10-Q Financial Statement

#000110465914058383 Filed on August 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2014 Q2 2013 Q2
Revenue $224.8M $148.0M $126.0M
YoY Change 101.57% 17.44% 22.84%
Cost Of Revenue $17.00M $19.70M $17.60M
YoY Change -22.02% 11.93% 198.31%
Gross Profit $207.8M $128.3M $108.4M
YoY Change 131.66% 18.36% 12.1%
Gross Profit Margin 92.45% 86.7% 86.03%
Selling, General & Admin $13.80M $16.40M $15.30M
YoY Change -16.36% 7.19% 206.0%
% of Gross Profit 6.64% 12.78% 14.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $73.11M $71.07M $52.83M
YoY Change -2.25% 34.53% 89.48%
% of Gross Profit 35.18% 55.4% 48.74%
Operating Expenses $113.7M $116.3M $104.1M
YoY Change -7.11% 11.79% 130.25%
Operating Profit $111.1M $31.67M $21.95M
YoY Change -1121.9% 44.28% -61.76%
Interest Expense $34.29M $33.81M $16.62M
YoY Change 32.13% 103.44% 1578.89%
% of Operating Profit 30.86% 106.78% 75.73%
Other Income/Expense, Net -$34.28M -$33.80M -$16.62M
YoY Change 32.13% 103.44% 1861.75%
Pretax Income $76.81M -$2.139M $5.331M
YoY Change -308.65% -140.12% -90.57%
Income Tax $2.216M -$41.00K $1.993M
% Of Pretax Income 2.88% 37.39%
Net Earnings $74.60M -$2.098M $3.338M
YoY Change -416.01% -162.85% -102.97%
Net Earnings / Revenue 33.19% -1.42% 2.65%
Basic Earnings Per Share
Diluted Earnings Per Share $11.13M -$308.8K $485.3K
COMMON SHARES
Basic Shares Outstanding 70.67M shares 70.27M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q3 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.70M $29.70M $12.30M
YoY Change 2.8% 141.46% 5.13%
Cash & Equivalents $25.72M $29.66M $12.29M
Short-Term Investments
Other Short-Term Assets $1.256M $1.419M $10.72M
YoY Change 81.77% -86.76% -39.44%
Inventory
Prepaid Expenses
Receivables $97.30M $103.5M $61.65M
Other Receivables $11.12M $2.396M $1.519M
Total Short-Term Assets $174.9M $189.8M $127.6M
YoY Change 5.54% 48.72% 131.58%
LONG-TERM ASSETS
Property, Plant & Equipment $2.058B $2.003B $2.383B
YoY Change -17.04% -15.96% 228.12%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $46.79M $50.94M $55.41M
YoY Change -19.2% -8.06% 459.26%
Total Long-Term Assets $2.105B $2.054B $2.438B
YoY Change -17.08% -15.78% 231.22%
TOTAL ASSETS
Total Short-Term Assets $174.9M $189.8M $127.6M
Total Long-Term Assets $2.105B $2.054B $2.438B
Total Assets $2.280B $2.243B $2.566B
YoY Change -15.7% -12.57% 224.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.51M $34.27M $22.44M
YoY Change -61.05% 52.72% -17.2%
Accrued Expenses $233.1M $208.0M $151.0M
YoY Change 17.34% 37.75% 139.66%
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 $249.1M $289.4M $182.3M
YoY Change -4.87% 58.75% 101.52%
LONG-TERM LIABILITIES
Long-Term Debt $1.669B $1.654B $1.521B
YoY Change 3.92% 8.74% 902.74%
Other Long-Term Liabilities $2.078M $2.665M $1.088M
YoY Change 11.6% 144.94% -89.12%
Total Long-Term Liabilities $1.697B $1.696B $1.741B
YoY Change -5.11% -2.59% 1047.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $249.1M $289.4M $182.3M
Total Long-Term Liabilities $1.697B $1.696B $1.741B
Total Liabilities $1.946B $1.986B $1.924B
YoY Change -5.08% 3.22% 694.4%
SHAREHOLDERS EQUITY
Retained Earnings -$542.2M -$616.8M -$191.7M
YoY Change 151.84% 221.76% 14.88%
Common Stock $878.9M $876.6M $834.4M
YoY Change 0.95% 5.05% 55.37%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.386M $2.155M $605.0K
YoY Change 294.38% 256.2%
Treasury Stock Shares
Shareholders Equity $334.3M $257.6M $642.1M
YoY Change
Total Liabilities & Shareholders Equity $2.280B $2.243B $2.566B
YoY Change -15.7% -12.57% 224.28%

Cashflow Statement

Concept 2014 Q3 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $74.60M -$2.098M $3.338M
YoY Change -416.01% -162.85% -102.97%
Depreciation, Depletion And Amortization $73.11M $71.07M $52.83M
YoY Change -2.25% 34.53% 89.48%
Cash From Operating Activities $134.0M $68.20M $10.60M
YoY Change 25.12% 543.4% -58.75%
INVESTING ACTIVITIES
Capital Expenditures -$155.4M -$152.7M -$127.1M
YoY Change -12.65% 20.14% 13.79%
Acquisitions
YoY Change
Other Investing Activities $3.000M $147.5M -$621.7M
YoY Change -123.73%
Cash From Investing Activities -$152.3M -$5.200M -$748.8M
YoY Change -14.44% -99.31% 570.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 14.30M -47.90M 699.8M
YoY Change -82.87% -106.84% 689.84%
NET CHANGE
Cash From Operating Activities 134.0M 68.20M 10.60M
Cash From Investing Activities -152.3M -5.200M -748.8M
Cash From Financing Activities 14.30M -47.90M 699.8M
Net Change In Cash -4.000M 15.10M -38.40M
YoY Change -131.75% -139.32% -1576.92%
FREE CASH FLOW
Cash From Operating Activities $134.0M $68.20M $10.60M
Capital Expenditures -$155.4M -$152.7M -$127.1M
Free Cash Flow $289.4M $220.9M $137.7M
YoY Change 1.54% 60.42% 0.22%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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dei Entity Central Index Key
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dei Document Type
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DepletionOfOilAndGasProperties
93845000 USD
CY2014Q2 us-gaap Depreciation
Depreciation
751000 USD
CY2013Q2 us-gaap Depreciation
Depreciation
574000 USD
us-gaap Depreciation
Depreciation
1448000 USD
CY2014Q2 mpo Depreciation On Other Property Per Barrel Of Oil Equivalents Boe
DepreciationOnOtherPropertyPerBarrelOfOilEquivalentsBOE
0.25
CY2013Q2 mpo Depreciation On Other Property Per Barrel Of Oil Equivalents Boe
DepreciationOnOtherPropertyPerBarrelOfOilEquivalentsBOE
0.32
mpo Depreciation On Other Property Per Barrel Of Oil Equivalents Boe
DepreciationOnOtherPropertyPerBarrelOfOilEquivalentsBOE
0.26
mpo Depreciation On Other Property Per Barrel Of Oil Equivalents Boe
DepreciationOnOtherPropertyPerBarrelOfOilEquivalentsBOE
0.29
CY2014Q2 mpo Depreciation Depletion And Amortization Per Barrel Of Oil Equivalents Boe
DepreciationDepletionAndAmortizationPerBarrelOfOilEquivalentsBOE
24.47
CY2013Q2 mpo Depreciation Depletion And Amortization Per Barrel Of Oil Equivalents Boe
DepreciationDepletionAndAmortizationPerBarrelOfOilEquivalentsBOE
29.56
mpo Depletion Costs Per Barrel Of Oil Equivalents Boe
DepletionCostsPerBarrelOfOilEquivalentsBOE
24.76
CY2014Q2 mpo Lease Operating Expense And Well Service Expense
LeaseOperatingExpenseAndWellServiceExpense
19721000 USD
CY2013Q2 mpo Lease Operating Expense And Well Service Expense
LeaseOperatingExpenseAndWellServiceExpense
17575000 USD
mpo Lease Operating Expense And Well Service Expense
LeaseOperatingExpenseAndWellServiceExpense
39848000 USD
mpo Lease Operating Expense And Well Service Expense
LeaseOperatingExpenseAndWellServiceExpense
31446000 USD
CY2014Q2 us-gaap Gas Gathering Transportation Marketing And Processing Costs
GasGatheringTransportationMarketingAndProcessingCosts
2940000 USD
us-gaap Gas Gathering Transportation Marketing And Processing Costs
GasGatheringTransportationMarketingAndProcessingCosts
5795000 USD
CY2014Q2 mpo Severance And Other Taxes
SeveranceAndOtherTaxes
5632000 USD
CY2013Q2 mpo Severance And Other Taxes
SeveranceAndOtherTaxes
6579000 USD
mpo Severance And Other Taxes
SeveranceAndOtherTaxes
13279000 USD
mpo Severance And Other Taxes
SeveranceAndOtherTaxes
12534000 USD
CY2014Q2 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
432000 USD
CY2013Q2 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
313000 USD
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
567000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
137975000 USD
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13434000 USD
CY2013Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15272000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
25118000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
26298000 USD
CY2014Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
2483000 USD
CY2013Q2 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
11492000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
2611000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
11492000 USD
CY2014Q2 us-gaap Other Expenses
OtherExpenses
609000 USD
us-gaap Other Expenses
OtherExpenses
939000 USD
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
116325000 USD
CY2013Q2 us-gaap Operating Expenses
OperatingExpenses
104061000 USD
us-gaap Operating Expenses
OperatingExpenses
312965000 USD
us-gaap Operating Expenses
OperatingExpenses
177143000 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
31665000 USD
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
21947000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-20313000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
19887000 USD
CY2014Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
9000 USD
CY2013Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
5000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
19000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
10000 USD
CY2014Q2 us-gaap Interest Expense
InterestExpense
33813000 USD
CY2013Q2 us-gaap Interest Expense
InterestExpense
16621000 USD
us-gaap Interest Expense
InterestExpense
67760000 USD
us-gaap Interest Expense
InterestExpense
27488000 USD
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-33804000 USD
CY2013Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-16616000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-67741000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-27478000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-2139000 USD
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
5331000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-88054000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-7591000 USD
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-41000 USD
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1993000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2311000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2980000 USD
CY2013Q2 mpo Undistributed Earnings Allocated To Participating Securities Non Vested Restricted Stock
UndistributedEarningsAllocatedToParticipatingSecuritiesNonVestedRestrictedStock
16000 USD
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.10
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66453000 shares
CY2013Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.01
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.41
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.17
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2311000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2980000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4197000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2264000 USD
mpo Payments To Acquire Property Under Acquisition
PaymentsToAcquirePropertyUnderAcquisition
621748000 USD
us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
147519000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-131514000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-881332000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
84000000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
998000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
26032000 USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-1929000 USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
7739000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1094000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2147000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
861450000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4756000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-4546000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
4365000 USD
CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
68441000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
66221000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
65699000 shares
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
94806000 USD
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
86471000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3668000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3014000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
28717000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-711000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
101000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
177047000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
72840000 USD
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
279033000 USD
us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
259584000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
131000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
34300000 USD
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
545000 USD
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
24646000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1491000 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
-49036000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
801899000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-3503000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-6593000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
115000000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
104161000 USD
us-gaap Interest Paid Net
InterestPaidNet
63383000 USD
us-gaap Interest Paid Net
InterestPaidNet
19494000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
18878000 USD
CY2013Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12285000 USD
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
8000000 USD
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
14900000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
643581000 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
642074000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
3709000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
605000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
4818000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1491000 USD

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