2014 Q4 Form 10-Q Financial Statement

#000110465914077650 Filed on November 06, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q4
Revenue $276.8M $224.8M $161.0M
YoY Change 71.93% 101.57% 81.1%
Cost Of Revenue $22.80M $17.00M $20.20M
YoY Change 12.87% -22.02% 75.65%
Gross Profit $254.0M $207.8M $140.8M
YoY Change 80.4% 131.66% 81.91%
Gross Profit Margin 91.76% 92.45% 87.45%
Selling, General & Admin $17.40M $13.80M $15.90M
YoY Change 9.43% -16.36% 37.07%
% of Gross Profit 6.85% 6.64% 11.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $58.80M $73.11M $80.80M
YoY Change -27.23% -2.25% 107.18%
% of Gross Profit 23.15% 35.18% 57.39%
Operating Expenses $78.50M $113.7M $97.10M
YoY Change -19.16% -7.11% 90.77%
Operating Profit $175.5M $111.1M $43.70M
YoY Change 301.6% -1121.9% 64.91%
Interest Expense -$35.50M $34.29M -$29.70M
YoY Change 19.53% 32.13% 215.96%
% of Operating Profit -20.23% 30.86% -67.96%
Other Income/Expense, Net -$34.28M
YoY Change 32.13%
Pretax Income $134.6M $76.81M -$446.1M
YoY Change -130.17% -308.65% 24683.33%
Income Tax $6.500M $2.216M -$130.3M
% Of Pretax Income 4.83% 2.88%
Net Earnings $128.1M $74.60M -$315.8M
YoY Change -140.56% -416.01% 13058.33%
Net Earnings / Revenue 46.28% 33.19% -196.15%
Basic Earnings Per Share
Diluted Earnings Per Share $19.12M $11.13M -$47.85M
COMMON SHARES
Basic Shares Outstanding 70.46M shares 70.67M shares 68.41M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.60M $25.70M $33.20M
YoY Change -65.06% 2.8% 75.66%
Cash & Equivalents $11.60M $25.72M $33.16M
Short-Term Investments
Other Short-Term Assets $127.8M $1.256M $693.0K
YoY Change 18341.56% 81.77% -91.92%
Inventory
Prepaid Expenses
Receivables $97.30M $102.5M
Other Receivables $11.12M $1.090M
Total Short-Term Assets $273.1M $174.9M $192.6M
YoY Change 41.8% 5.54% 115.26%
LONG-TERM ASSETS
Property, Plant & Equipment $2.123B $2.058B $2.095B
YoY Change 1.35% -17.04% 33.65%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $50.90M $46.79M $54.60M
YoY Change -6.77% -19.2% 114.84%
Total Long-Term Assets $2.174B $2.105B $2.150B
YoY Change 1.14% -17.08% 34.8%
TOTAL ASSETS
Total Short-Term Assets $273.1M $174.9M $192.6M
Total Long-Term Assets $2.174B $2.105B $2.150B
Total Assets $2.447B $2.280B $2.342B
YoY Change 4.49% -15.7% 39.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.80M $13.51M $21.49M
YoY Change 6.08% -61.05% -26.38%
Accrued Expenses $183.8M $233.1M $204.4M
YoY Change -10.07% 17.34% 107.18%
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 $251.5M $249.1M $253.8M
YoY Change -0.89% -4.87% 87.37%
LONG-TERM LIABILITIES
Long-Term Debt $1.707B $1.669B $1.701B
YoY Change 0.31% 3.92% 145.12%
Other Long-Term Liabilities $23.30M $2.078M $1.954M
YoY Change 1092.43% 11.6% 64.34%
Total Long-Term Liabilities $1.730B $1.697B $1.748B
YoY Change -1.06% -5.11% 100.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $251.5M $249.1M $253.8M
Total Long-Term Liabilities $1.730B $1.697B $1.748B
Total Liabilities $1.981B $1.946B $2.002B
YoY Change -1.04% -5.08% 98.91%
SHAREHOLDERS EQUITY
Retained Earnings -$542.2M -$531.1M
YoY Change 151.84% 183.86%
Common Stock $878.9M $871.7M
YoY Change 0.95% 0.83%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.386M $664.0K
YoY Change 294.38%
Treasury Stock Shares
Shareholders Equity $465.9M $334.3M $340.0M
YoY Change
Total Liabilities & Shareholders Equity $2.447B $2.280B $2.342B
YoY Change 4.49% -15.7% 39.08%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q4
OPERATING ACTIVITIES
Net Income $128.1M $74.60M -$315.8M
YoY Change -140.56% -416.01% 13058.33%
Depreciation, Depletion And Amortization $58.80M $73.11M $80.80M
YoY Change -27.23% -2.25% 107.18%
Cash From Operating Activities $49.20M $134.0M $47.20M
YoY Change 4.24% 25.12% 11.06%
INVESTING ACTIVITIES
Capital Expenditures -$130.8M -$155.4M -$136.2M
YoY Change -3.96% -12.65% -0.87%
Acquisitions
YoY Change
Other Investing Activities $1.600M $3.000M $1.600M
YoY Change 0.0% -100.46%
Cash From Investing Activities -$129.3M -$152.3M -$134.5M
YoY Change -3.87% -14.44% -72.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 65.80M 14.30M 95.60M
YoY Change -31.17% -82.87% -79.24%
NET CHANGE
Cash From Operating Activities 49.20M 134.0M 47.20M
Cash From Investing Activities -129.3M -152.3M -134.5M
Cash From Financing Activities 65.80M 14.30M 95.60M
Net Change In Cash -14.30M -4.000M 8.300M
YoY Change -272.29% -131.75% -41.55%
FREE CASH FLOW
Cash From Operating Activities $49.20M $134.0M $47.20M
Capital Expenditures -$130.8M -$155.4M -$136.2M
Free Cash Flow $180.0M $289.4M $183.4M
YoY Change -1.85% 1.54% 1.95%

Facts In Submission

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dei Entity Registrant Name
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Midstates Petroleum Company, Inc.
dei Entity Central Index Key
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dei Document Type
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dei Document Period End Date
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dei Amendment Flag
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mpo Oil Sales Revenue
OilSalesRevenue
372925000 USD
mpo Oil Sales Revenue
OilSalesRevenue
268903000 USD
CY2014Q3 us-gaap Natural Gas Midstream Revenue
NaturalGasMidstreamRevenue
22989000 USD
CY2013Q3 us-gaap Natural Gas Midstream Revenue
NaturalGasMidstreamRevenue
18939000 USD
us-gaap Natural Gas Midstream Revenue
NaturalGasMidstreamRevenue
71528000 USD
us-gaap Natural Gas Midstream Revenue
NaturalGasMidstreamRevenue
39656000 USD
CY2014Q3 us-gaap Natural Gas Production Revenue
NaturalGasProductionRevenue
24607000 USD
CY2013Q3 us-gaap Natural Gas Production Revenue
NaturalGasProductionRevenue
18775000 USD
us-gaap Natural Gas Production Revenue
NaturalGasProductionRevenue
74986000 USD
us-gaap Natural Gas Production Revenue
NaturalGasProductionRevenue
42034000 USD
CY2014Q3 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
50978000 USD
CY2013Q3 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-45296000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-3162000 USD
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-42999000 USD
CY2014Q3 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
757000 USD
CY2013Q3 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
38000 USD
us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
1136000 USD
us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
941000 USD
CY2014Q3 us-gaap Sales Revenue Net
SalesRevenueNet
224761000 USD
CY2013Q3 us-gaap Sales Revenue Net
SalesRevenueNet
111505000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
517413000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
308535000 USD
CY2014Q3 mpo Lease Operating Expense And Well Service Expense
LeaseOperatingExpenseAndWellServiceExpense
16965000 USD
CY2013Q3 mpo Lease Operating Expense And Well Service Expense
LeaseOperatingExpenseAndWellServiceExpense
21784000 USD
mpo Lease Operating Expense And Well Service Expense
LeaseOperatingExpenseAndWellServiceExpense
56813000 USD
mpo Lease Operating Expense And Well Service Expense
LeaseOperatingExpenseAndWellServiceExpense
53230000 USD
CY2014Q3 us-gaap Gas Gathering Transportation Marketing And Processing Costs
GasGatheringTransportationMarketingAndProcessingCosts
3902000 USD
CY2013Q3 us-gaap Gas Gathering Transportation Marketing And Processing Costs
GasGatheringTransportationMarketingAndProcessingCosts
2583000 USD
us-gaap Gas Gathering Transportation Marketing And Processing Costs
GasGatheringTransportationMarketingAndProcessingCosts
9697000 USD
us-gaap Gas Gathering Transportation Marketing And Processing Costs
GasGatheringTransportationMarketingAndProcessingCosts
2583000 USD
CY2014Q3 mpo Severance And Other Taxes
SeveranceAndOtherTaxes
5780000 USD
CY2013Q3 mpo Severance And Other Taxes
SeveranceAndOtherTaxes
8080000 USD
mpo Severance And Other Taxes
SeveranceAndOtherTaxes
19059000 USD
mpo Severance And Other Taxes
SeveranceAndOtherTaxes
20614000 USD
CY2014Q3 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
406000 USD
CY2013Q3 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
421000 USD
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
988000 USD
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
86471000 USD
CY2014Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
9879000 USD
CY2013Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13911000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
34997000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
40209000 USD
CY2014Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1283000 USD
CY2013Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
194000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
3894000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
11686000 USD
CY2013Q3 us-gaap Other Expenses
OtherExpenses
614000 USD
us-gaap Other Expenses
OtherExpenses
3285000 USD
us-gaap Other Expenses
OtherExpenses
614000 USD
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
113670000 USD
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
122376000 USD
us-gaap Operating Expenses
OperatingExpenses
426635000 USD
us-gaap Operating Expenses
OperatingExpenses
299519000 USD
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
111091000 USD
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-10871000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
90778000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
9016000 USD
CY2013Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
7000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
29000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
17000 USD
CY2014Q3 us-gaap Interest Expense
InterestExpense
34288000 USD
CY2013Q3 us-gaap Interest Expense
InterestExpense
25950000 USD
us-gaap Interest Expense
InterestExpense
102048000 USD
us-gaap Interest Expense
InterestExpense
53438000 USD
CY2014Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-34278000 USD
CY2013Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-25943000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-102019000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-53421000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
76813000 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-36814000 USD
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2216000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-16188000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
677469000 USD
CY2013Q3 us-gaap Stockholders Equity
StockholdersEquity
654715000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
6068000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
605000 USD
us-gaap Gain Loss On Sale Of Commodity Contracts
GainLossOnSaleOfCommodityContracts
39213000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5358000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1722000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
7145000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
4921000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-95000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-16188000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
6018000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4156000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-5179000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
52598000 USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-10551000 USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
13544000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1815000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2622000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
503000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-3027000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
30921000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
89666000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-124000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
186000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
312067000 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
435363000 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 Proceeds From Sale Of Oil And Gas Property And Equipment
ProceedsFromSaleOfOilAndGasPropertyAndEquipment
150530000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-284833000 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
99000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
946450000 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
958000 USD
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
26142000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1722000 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
-34680000 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
-7446000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
6075000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
98000000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
100500000 USD
us-gaap Interest Paid Net
InterestPaidNet
63538000 USD
us-gaap Interest Paid Net
InterestPaidNet
11671000 USD
CY2013Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
24953000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
18878000 USD
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
10500000 USD
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
24600000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
9334000 USD
CY2014Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1908000 USD
CY2014Q3 mpo Depletion Costs Per Barrel Of Oil Equivalents Boe
DepletionCostsPerBarrelOfOilEquivalentsBOE
23.27
CY2014Q3 us-gaap Commodity Contract Asset Current
CommodityContractAssetCurrent
7333000 USD
CY2014Q3 us-gaap Other Expenses
OtherExpenses
2346000 USD
CY2014Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
10000 USD
mpo Field Inventory Adjustments
FieldInventoryAdjustments
5200000 USD
CY2014Q3 mpo Gain Loss On Sale Of Or Market Value Adjustments To Inventory
GainLossOnSaleOfOrMarketValueAdjustmentsToInventory
2300000 USD
mpo Gain Loss On Sale Of Or Market Value Adjustments To Inventory
GainLossOnSaleOfOrMarketValueAdjustmentsToInventory
3300000 USD
mpo Asset Retirement Obligation Liabilities Released
AssetRetirementObligationLiabilitiesReleased
7700000 USD
mpo Additional Field Inventory Purchased
AdditionalFieldInventoryPurchased
2400000 USD
mpo Gain Loss On Sale Of Or Market Value Adjustments To Inventory
GainLossOnSaleOfOrMarketValueAdjustmentsToInventory
600000 USD
CY2013Q3 mpo Gain Loss On Sale Of Or Market Value Adjustments To Inventory
GainLossOnSaleOfOrMarketValueAdjustmentsToInventory
600000 USD

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