$CHRD
Chord Energy Corp

2012 Q4 Form 10-Q Financial Statement

#000119312512459757 Filed on November 08, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q3
Revenue $214.3M $184.7M $87.60M
YoY Change 83.38% 110.87% 165.44%
Cost Of Revenue $41.20M $38.00M $18.50M
YoY Change 76.07% 105.41% 176.12%
Gross Profit $173.2M $146.7M $69.10M
YoY Change 85.24% 112.3% 162.74%
Gross Profit Margin 80.81% 79.42% 78.88%
Selling, General & Admin $19.50M $16.60M $7.500M
YoY Change 93.07% 121.33% 56.25%
% of Gross Profit 11.26% 11.32% 10.85%
Research & Development $100.0K $300.0K $100.0K
YoY Change -92.31% 200.0%
% of Gross Profit 0.06% 0.2% 0.14%
Depreciation & Amortization $65.90M $57.68M $20.86M
YoY Change 142.28% 176.54% 112.85%
% of Gross Profit 38.05% 39.32% 30.19%
Operating Expenses $85.50M $74.70M $28.40M
YoY Change 121.5% 163.03% 94.52%
Operating Profit $86.62M $72.04M $40.27M
YoY Change 59.41% 78.87% 244.21%
Interest Expense -$20.60M $20.98M $6.786M
YoY Change -73.04% 209.15% -299.59%
% of Operating Profit -23.78% 29.12% 16.85%
Other Income/Expense, Net $2.300M -$42.27M $64.96M
YoY Change 475.0% -165.07% 64862.0%
Pretax Income $68.40M $29.77M $105.2M
YoY Change -416.67% -71.72% 1303.13%
Income Tax $25.80M $11.45M $38.95M
% Of Pretax Income 37.72% 38.47% 37.01%
Net Earnings $42.59M $18.31M $66.29M
YoY Change -417.82% -72.37% -3997.06%
Net Earnings / Revenue 19.87% 9.92% 75.68%
Basic Earnings Per Share $0.20
Diluted Earnings Per Share $0.46 $0.20 $0.72
COMMON SHARES
Basic Shares Outstanding 93.37M shares 92.19M shares 92.06M shares
Diluted Shares Outstanding 92.42M shares 92.16M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $239.3M $406.5M $288.5M
YoY Change -51.25% 40.9% 7.01%
Cash & Equivalents $213.4M $280.3M $163.6M
Short-Term Investments $25.90M $126.2M $124.9M
Other Short-Term Assets $335.0K $78.00K $34.40M
YoY Change -31.77% -99.77% 2546.15%
Inventory $20.71M $21.14M $2.800M
Prepaid Expenses $1.770M $4.030M
Receivables $110.3M $105.0M $95.80M
Other Receivables $2.000M $4.000M $3.900M
Total Short-Term Assets $492.7M $641.7M $425.5M
YoY Change -21.0% 50.81% 36.73%
LONG-TERM ASSETS
Property, Plant & Equipment $2.007B $1.804B $849.5M
YoY Change 85.8% 112.34% 154.34%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $29.50M $35.40M $39.40M
YoY Change 23.95% -10.15% 1613.04%
Total Long-Term Assets $2.036B $1.839B $888.9M
YoY Change 84.47% 106.91% 164.32%
TOTAL ASSETS
Total Short-Term Assets $492.7M $641.7M $425.5M
Total Long-Term Assets $2.036B $1.839B $888.9M
Total Assets $2.529B $2.481B $1.314B
YoY Change 46.39% 88.75% 103.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.49M $30.95M $43.80M
YoY Change 2.33% -29.33% 1227.27%
Accrued Expenses $189.9M $200.5M $87.20M
YoY Change 58.63% 129.98% 111.14%
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 $330.8M $355.0M $168.9M
YoY Change 81.17% 110.16% 219.28%
LONG-TERM LIABILITIES
Long-Term Debt $1.200B $1.200B $400.0M
YoY Change 50.0% 200.0%
Other Long-Term Liabilities $1.997M $2.078M $12.60M
YoY Change 100.3% -83.51% 40.0%
Total Long-Term Liabilities $1.202B $1.202B $412.6M
YoY Change 50.06% 191.34% 4484.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $330.8M $355.0M $168.9M
Total Long-Term Liabilities $1.202B $1.202B $412.6M
Total Liabilities $1.734B $1.731B $667.8M
YoY Change 58.61% 159.14% 557.93%
SHAREHOLDERS EQUITY
Retained Earnings $139.9M $97.34M
YoY Change -1140.01%
Common Stock $658.9M $654.9M
YoY Change 1.63%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $795.0M $750.4M $646.6M
YoY Change
Total Liabilities & Shareholders Equity $2.529B $2.481B $1.314B
YoY Change 46.39% 88.75% 103.0%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $42.59M $18.31M $66.29M
YoY Change -417.82% -72.37% -3997.06%
Depreciation, Depletion And Amortization $65.90M $57.68M $20.86M
YoY Change 142.28% 176.54% 112.85%
Cash From Operating Activities $110.3M $110.2M $37.60M
YoY Change 203.86% 193.09% 265.05%
INVESTING ACTIVITIES
Capital Expenditures $275.9M $336.6M $174.6M
YoY Change 21.92% 92.78% 176.7%
Acquisitions
YoY Change
Other Investing Activities $100.7M -$124.9M $700.0K
YoY Change -4.91% -17942.86% -120.59%
Cash From Investing Activities -$175.2M -$461.5M -$174.0M
YoY Change 45.51% 165.23% 161.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.900M 392.7M 0.000
YoY Change -100.49% -100.0%
NET CHANGE
Cash From Operating Activities 110.3M 110.2M 37.60M
Cash From Investing Activities -175.2M -461.5M -174.0M
Cash From Financing Activities -1.900M 392.7M 0.000
Net Change In Cash -66.80M 41.40M -136.4M
YoY Change -121.74% -130.35% 140.99%
FREE CASH FLOW
Cash From Operating Activities $110.3M $110.2M $37.60M
Capital Expenditures $275.9M $336.6M $174.6M
Free Cash Flow -$165.6M -$226.4M -$137.0M
YoY Change -12.84% 65.26% 159.47%

Facts In Submission

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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
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-67105000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
337000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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oas Proceed From Advance From Joint Interest Partners
ProceedFromAdvanceFromJointInterestPartners
8093000
oas Payments For Advances To Joint Interest Partners
PaymentsForAdvancesToJointInterestPartners
408000
oas Non Cash Asset Retirement Obligations
NonCashAssetRetirementObligations
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oas Debt Discount Amortization And Other
DebtDiscountAmortizationAndOther
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CY2012Q3 us-gaap Gas Gathering Transportation Marketing And Processing Costs
GasGatheringTransportationMarketingAndProcessingCosts
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CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2012Q3 us-gaap Well Service Expense
WellServiceExpense
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CY2012Q3 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2012-09-30
dei Entity Central Index Key
EntityCentralIndexKey
0001486159
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Trading Symbol
TradingSymbol
OAS
dei Entity Registrant Name
EntityRegistrantName
Oasis Petroleum Inc.
dei Amendment Flag
AmendmentFlag
false
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2521000
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
33568000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
140783000
us-gaap Revenue Oil And Gas Services
RevenueOilAndGasServices
10484000
us-gaap Unrealized Gain Loss On Commodity Contracts
UnrealizedGainLossOnCommodityContracts
30784000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
119000
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
1.20
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-863443000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
7955000
us-gaap Gas Gathering Transportation Marketing And Processing Costs
GasGatheringTransportationMarketingAndProcessingCosts
7283000
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
177510000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
92164000 shares
us-gaap Well Service Expense
WellServiceExpense
7104000
us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
-2784000
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
777426000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
400000000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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OilAndGasSalesRevenue
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ShareBasedCompensation
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us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-190569000
us-gaap Exploration Expense
ExplorationExpense
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us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
2009000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1299000
us-gaap Asset Retirement Obligation Revision Of Estimate
AssetRetirementObligationRevisionOfEstimate
1774000
us-gaap Operating Income Loss
OperatingIncomeLoss
190373000
us-gaap Nature Of Operations
NatureOfOperations
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Nature of Business</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The Company is an independent exploration and production company focused on the acquisition and development of unconventional oil and natural gas resources in the Williston Basin. The Company&#x2019;s proved and unproved oil and natural gas properties are located in the Montana and North Dakota areas of the Williston Basin and are owned by OPNA. The Company also operates businesses that are complementary to its primary development and production activities, including a marketing business (OPM) and a well services business (OWS).</font></p> </div>
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
66712000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
26790000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
66648000
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Costs And Expenses
CostsAndExpenses
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GeneralAndAdministrativeExpense
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
92343000 shares
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
390746000
us-gaap Production Tax Expense
ProductionTaxExpense
43419000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
179000 shares
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.376 pure
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
612000
us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
19994000
us-gaap Lease Operating Expense
LeaseOperatingExpense
37979000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
5050000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
79079000
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
42000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
71572000
us-gaap Oil And Gas Revenue
OilAndGasRevenue
472341000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
541000 shares
us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
2607000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
126213000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
4784000
us-gaap Interest Expense
InterestExpense
48952000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-413000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
6627000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
282128000
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
5388000
oas Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants Performance Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsPerformancePeriod
3 Y
oas Proceed From Advance From Joint Interest Partners
ProceedFromAdvanceFromJointInterestPartners
17508000
oas Payments For Advances To Joint Interest Partners
PaymentsForAdvancesToJointInterestPartners
90000
oas Non Cash Asset Retirement Obligations
NonCashAssetRetirementObligations
7774000
oas Debt Discount Amortization And Other
DebtDiscountAmortizationAndOther
2038000
oas Ownership Percentage Guarantor
OwnershipPercentageGuarantor
1.00 pure
oas Number Of Trading Days Consider For Average Closing Price
NumberOfTradingDaysConsiderForAverageClosingPrice
P30D
oas Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value Amortization Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueAmortizationPeriod
P4Y
CY2012Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1147000
CY2012Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-22441000
CY2012Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
57684000
CY2012Q3 us-gaap Revenue Oil And Gas Services
RevenueOilAndGasServices
5963000
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UnrealizedGainLossOnCommodityContracts
-27690000
CY2012Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.20
CY2012Q3 us-gaap Exploration Expense
ExplorationExpense
336000
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
29765000
CY2012Q3 us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
178748000
CY2011Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.72
CY2011Q3 us-gaap Gas Gathering Transportation Marketing And Processing Costs
GasGatheringTransportationMarketingAndProcessingCosts
238000
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
92060000 shares
CY2011Q3 us-gaap Payments For Proceeds From Derivative Instrument Investing Activities
PaymentsForProceedsFromDerivativeInstrumentInvestingActivities
179000
CY2011Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
105235000
CY2011Q3 us-gaap Oil And Gas Sales Revenue
OilAndGasSalesRevenue
87596000
CY2011Q3 us-gaap Exploration Expense
ExplorationExpense
54000
CY2011Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
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NetIncomeLoss
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CY2012Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2012Q3 us-gaap Costs And Expenses
CostsAndExpenses
112673000
CY2012Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13886000
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
92416000 shares
CY2012Q3 us-gaap Production Tax Expense
ProductionTaxExpense
16433000
CY2012Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
230000 shares
CY2012Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.385 pure
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11451000
CY2012Q3 us-gaap Lease Operating Expense
LeaseOperatingExpense
16134000
CY2012Q3 us-gaap Oil And Gas Revenue
OilAndGasRevenue
184711000
CY2012Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
748000 shares
CY2012Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
36000
CY2012Q3 us-gaap Interest Expense
InterestExpense
20979000
CY2011Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
524000
CY2011Q3 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
71224000
CY2011Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
20859000
CY2011Q3 us-gaap Unrealized Gain Loss On Commodity Contracts
UnrealizedGainLossOnCommodityContracts
71403000
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
66289000
CY2011Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
64962000
CY2011Q3 us-gaap Costs And Expenses
CostsAndExpenses
47323000
CY2011Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7306000
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
92164000 shares
CY2011Q3 us-gaap Production Tax Expense
ProductionTaxExpense
8873000
CY2011Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
104000 shares
CY2011Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.370 pure
CY2011Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
38946000
CY2011Q3 us-gaap Lease Operating Expense
LeaseOperatingExpense
9597000
CY2011Q3 us-gaap Oil And Gas Revenue
OilAndGasRevenue
87596000
CY2011Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
281000 shares
CY2011Q3 us-gaap Impairment Of Oil And Gas Properties
ImpairmentOfOilAndGasProperties
396000
CY2011Q3 us-gaap Interest Expense
InterestExpense
6786000

Files In Submission

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