2016 Q4 Form 10-Q Financial Statement

#000150958916000144 Filed on November 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3
Revenue $47.30M $49.30M $72.10M
YoY Change -17.02% -31.62% -53.9%
Cost Of Revenue $12.40M $12.80M $20.20M
YoY Change -22.5% -36.63% 10.99%
Gross Profit $34.90M $36.60M $51.90M
YoY Change -14.88% -29.48% -62.45%
Gross Profit Margin 73.78% 74.24% 71.98%
Selling, General & Admin $27.50M $18.70M $17.80M
YoY Change 96.43% 5.06% 20.27%
% of Gross Profit 78.8% 51.09% 34.3%
Research & Development $0.00 $0.00 $7.000M
YoY Change -100.0% -100.0% 112.12%
% of Gross Profit 0.0% 0.0% 13.49%
Depreciation & Amortization $26.60M $27.30M $58.70M
YoY Change -53.58% -53.49% -7.27%
% of Gross Profit 76.22% 74.59% 113.1%
Operating Expenses $54.10M $72.20M $274.5M
YoY Change -26.89% -73.7% 138.9%
Operating Profit $4.509M $5.162M -$9.133M
YoY Change -120.58% -156.52% -115.33%
Interest Expense -$15.40M $15.14M $14.07M
YoY Change 71.11% 7.6% 6.39%
% of Operating Profit -341.54% 293.34%
Other Income/Expense, Net -$3.600M -$12.02M $21.74M
YoY Change 500.0% -155.29% -42.47%
Pretax Income -$67.30M -$34.90M -$180.6M
YoY Change -89.38% -80.67% -327.82%
Income Tax $0.00 $0.00 -$68.30M
% Of Pretax Income
Net Earnings -$67.30M -$34.90M -$112.3M
YoY Change -88.27% -68.92% -330.12%
Net Earnings / Revenue -142.28% -70.79% -155.76%
Basic Earnings Per Share -$0.71 -$2.25
Diluted Earnings Per Share -$1.37 -$0.71 -$2.25
COMMON SHARES
Basic Shares Outstanding 49.67M shares 49.32M shares 48.96M shares
Diluted Shares Outstanding 49.32M shares 48.96M shares

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $81.00M $133.0M $25.00M
YoY Change 285.71% 432.0% -73.12%
Cash & Equivalents $80.57M $133.4M $25.33M
Short-Term Investments
Other Short-Term Assets $6.000M $7.000M $72.00M
YoY Change -82.35% -90.28% 323.53%
Inventory $4.685M $8.994M $8.747M
Prepaid Expenses
Receivables $14.48M $22.17M $33.29M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $112.4M $176.7M $169.1M
YoY Change -6.37% 4.5% -20.97%
LONG-TERM ASSETS
Property, Plant & Equipment $1.019B $1.039B $1.749B
YoY Change -10.4% -40.59% -4.05%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.082M $8.362M $18.45M
YoY Change 33.94% -54.67% -36.4%
Total Long-Term Assets $1.022B $1.048B $1.775B
YoY Change -10.31% -40.96% -4.18%
TOTAL ASSETS
Total Short-Term Assets $112.4M $176.7M $169.1M
Total Long-Term Assets $1.022B $1.048B $1.775B
Total Assets $1.134B $1.224B $1.944B
YoY Change -9.94% -37.01% -5.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.000M $1.000M $3.000M
YoY Change 0.0% -66.67% -57.14%
Accrued Expenses $2.895M $3.313M $8.248M
YoY Change -38.81% -59.83% -95.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $985.4M $1.023B
YoY Change
Total Short-Term Liabilities $1.070B $1.102B $192.5M
YoY Change 687.26% 472.37% -16.66%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $876.0M
YoY Change -100.0% -100.0% 8.42%
Other Long-Term Liabilities $45.00M $38.00M $36.00M
YoY Change 4.65% 5.56% -34.55%
Total Long-Term Liabilities $0.00 $0.00 $912.0M
YoY Change -100.0% -100.0% 5.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.070B $1.102B $192.5M
Total Long-Term Liabilities $0.00 $0.00 $912.0M
Total Liabilities $1.115B $1.140B $1.164B
YoY Change 6.21% -2.1% -9.48%
SHAREHOLDERS EQUITY
Retained Earnings -$796.0M -$728.6M -$23.37M
YoY Change 33.32% 3018.53%
Common Stock $815.0M $813.4M $802.9M
YoY Change 1.07% 1.31%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $19.06M $84.76M $779.6M
YoY Change
Total Liabilities & Shareholders Equity $1.134B $1.224B $1.944B
YoY Change -9.94% -37.01% -5.92%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$67.30M -$34.90M -$112.3M
YoY Change -88.27% -68.92% -330.12%
Depreciation, Depletion And Amortization $26.60M $27.30M $58.70M
YoY Change -53.58% -53.49% -7.27%
Cash From Operating Activities -$16.00M $15.80M -$13.60M
YoY Change -111.36% -216.18% -111.53%
INVESTING ACTIVITIES
Capital Expenditures $4.300M $4.900M $81.40M
YoY Change -93.68% -93.98% -76.74%
Acquisitions
YoY Change
Other Investing Activities $5.100M -$5.200M $79.30M
YoY Change -105.88% -106.56% -1752.08%
Cash From Investing Activities $800.0K -$10.10M -$2.100M
YoY Change -100.52% 380.95% -99.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -37.60M -42.40M 25.80M
YoY Change -479.8% -264.34% -91.19%
NET CHANGE
Cash From Operating Activities -16.00M 15.80M -13.60M
Cash From Investing Activities 800.0K -10.10M -2.100M
Cash From Financing Activities -37.60M -42.40M 25.80M
Net Change In Cash -52.80M -36.70M 10.10M
YoY Change 1187.8% -463.37% -82.0%
FREE CASH FLOW
Cash From Operating Activities -$16.00M $15.80M -$13.60M
Capital Expenditures $4.300M $4.900M $81.40M
Free Cash Flow -$20.30M $10.90M -$95.00M
YoY Change -127.88% -111.47% -59.05%

Facts In Submission

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us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
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us-gaap Interest Expense
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us-gaap Interest Paid Net
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36759000 USD
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0 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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173524000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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30578000 USD
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-131616000 USD
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CY2015Q4 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
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943081000 USD
CY2016Q3 us-gaap Oil And Gas Property Successful Effort Method Accumulated Depreciation Depletion And Amortization
OilAndGasPropertySuccessfulEffortMethodAccumulatedDepreciationDepletionAndAmortization
1669662000 USD
CY2015Q4 us-gaap Oil And Gas Reclamation Liability Noncurrent
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14935000 USD
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27157000 USD
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235647000 USD
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49325000 USD
us-gaap Oil And Gas Sales Revenue
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148029000 USD
CY2015Q3 us-gaap Operating Expenses
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274489000 USD
us-gaap Operating Expenses
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-202340000 USD
us-gaap Operating Income Loss
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-283291000 USD
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-22879000 USD
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-80687000 USD
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2301000 USD
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8362000 USD
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-283000 USD
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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913000 USD
us-gaap Other Nonoperating Income Expense
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1011000 USD
CY2015Q4 us-gaap Other Oil And Gas Property Successful Effort Method
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51196000 USD
CY2016Q3 us-gaap Other Oil And Gas Property Successful Effort Method
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20133000 USD
us-gaap Payments Of Debt Issuance Costs
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99000 USD
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0 USD
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573000 USD
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316000 USD
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PaymentsOfStockIssuanceCosts
6620000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2593000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
283000 USD
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12000000 USD
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12000000 USD
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13602000 USD
us-gaap Payments To Acquire Oil And Gas Property
PaymentsToAcquireOilAndGasProperty
919000 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
2390000 USD
us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
106000 USD
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
361131000 USD
us-gaap Payments To Explore And Develop Oil And Gas Properties
PaymentsToExploreAndDevelopOilAndGasProperties
47491000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.001
CY2016Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.001
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25000000 shares
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0 shares
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0 USD
CY2016Q3 us-gaap Preferred Stock Value
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4078000 USD
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5125000 USD
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209300000 USD
us-gaap Proceeds From Issuance Of Common Stock
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0 USD
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115000000 USD
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ProceedsFromLongTermLinesOfCredit
209000000 USD
CY2015Q3 us-gaap Production Tax Expense
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2411000 USD
us-gaap Production Tax Expense
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13055000 USD
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4100000 USD
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11531000 USD
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1137266000 USD
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1039289000 USD
CY2015Q4 us-gaap Property Plant And Equipment Other Accumulated Depreciation
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9407000 USD
CY2016Q3 us-gaap Property Plant And Equipment Other Accumulated Depreciation
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10983000 USD
CY2015Q4 us-gaap Property Plant And Equipment Other Net
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9729000 USD
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6789000 USD
CY2015Q4 us-gaap Proved Oil And Gas Property Successful Effort Method
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1618970000 USD
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2519695000 USD
us-gaap Repayments Of Long Term Lines Of Credit
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79000000 USD
us-gaap Repayments Of Long Term Lines Of Credit
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58667000 USD
CY2015Q3 us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
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58635000 USD
us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
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187564000 USD
CY2016Q3 us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
27296000 USD
us-gaap Results Of Operations Depreciation Depletion Amortization And Accretion
ResultsOfOperationsDepreciationDepletionAmortizationAndAccretion
84602000 USD
us-gaap Results Of Operations Dry Hole Costs
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7628000 USD
us-gaap Results Of Operations Dry Hole Costs
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905000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
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CY2016Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2015Q4 us-gaap Secured Debt Current
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12000000 USD
CY2016Q3 us-gaap Secured Debt Current
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0 USD
CY2015Q4 us-gaap Senior Notes Current
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0 USD
CY2016Q3 us-gaap Senior Notes Current
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793410000 USD
CY2015Q3 us-gaap Share Based Compensation
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3164000 USD
us-gaap Share Based Compensation
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10951000 USD
CY2016Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1863000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7249000 USD
us-gaap Stock Issued1
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326000 USD
us-gaap Stock Issued1
StockIssued1
0 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
209407000 USD
CY2016Q3 us-gaap Stockholders Equity
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84756000 USD
CY2015Q4 us-gaap Taxes Payable Current And Noncurrent
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17069000 USD
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10614000 USD
CY2015Q4 us-gaap Unproved Oil And Gas Property Successful Effort Method
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185530000 USD
CY2016Q3 us-gaap Unproved Oil And Gas Property Successful Effort Method
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162334000 USD
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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48962000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47485000 shares
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49324000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
49244000 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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48962000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47485000 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49324000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49244000 shares

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