$PHX
PHX MINERALS INC.

2019 Q4 Form 10-K Financial Statement

#000156459019045877 Filed on December 13, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q3 2018 Q2
Revenue $7.304M $11.56M $9.558M
YoY Change -72.26% -10.33% -23.15%
Cost Of Revenue $2.890M $4.000M $3.720M
YoY Change -22.1% 12.36% -1.59%
Gross Profit $5.230M $8.530M $7.970M
YoY Change -41.95% -12.51% 13.21%
Gross Profit Margin 71.61% 73.76% 83.39%
Selling, General & Admin $2.220M $2.090M $1.590M
YoY Change 14.43% 0.48% -11.67%
% of Gross Profit 42.45% 24.5% 19.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.956M $4.260M $4.620M
YoY Change -22.5% -10.32% -2.01%
% of Gross Profit 56.51% 49.94% 57.96%
Operating Expenses $5.180M $6.350M $6.210M
YoY Change -10.07% -14.99% -4.61%
Operating Profit $50.00K $2.180M $1.760M
YoY Change -98.46% -4.39% 232.08%
Interest Expense $370.7K -$1.420M -$2.550M
YoY Change -31.28% 77.5% -932.9%
% of Operating Profit 741.33% -65.14% -144.89%
Other Income/Expense, Net
YoY Change
Pretax Income $2.146M $759.6K -$984.1K
YoY Change -86.84% -48.15% -153.84%
Income Tax $254.0K -$110.0K -$209.0K
% Of Pretax Income 11.84% -14.48%
Net Earnings $1.892M $555.6K -$775.1K
YoY Change -85.14% -46.53% -161.48%
Net Earnings / Revenue 25.91% 4.8% -8.11%
Basic Earnings Per Share
Diluted Earnings Per Share $114.4K $33.00K -$46.48K
COMMON SHARES
Basic Shares Outstanding 16.34M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $300.0K $500.0K $500.0K
YoY Change -40.0% -16.67% -16.67%
Cash & Equivalents $268.7K $532.5K $477.0K
Short-Term Investments
Other Short-Term Assets $776.7K $578.9K $200.0K
YoY Change -76.46% 128.37% -85.71%
Inventory
Prepaid Expenses
Receivables $4.321M $7.102M $6.500M
Other Receivables $1.900M $0.00 $200.0K
Total Short-Term Assets $8.058M $8.246M $7.400M
YoY Change -31.12% -17.45% -13.95%
LONG-TERM ASSETS
Property, Plant & Equipment $118.8M $198.3M $189.0M
YoY Change -39.51% 0.86% -3.87%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $200.0K $200.0K $200.0K
YoY Change 0.0% 0.0% 0.0%
Other Assets $0.00
YoY Change -100.0%
Total Long-Term Assets $119.0M $198.5M $189.1M
YoY Change -39.56% 0.89% -3.96%
TOTAL ASSETS
Total Short-Term Assets $8.058M $8.246M $7.400M
Total Long-Term Assets $119.0M $198.5M $189.1M
Total Assets $127.1M $206.7M $196.5M
YoY Change -39.09% 0.0% -4.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $670.2K $881.1K $1.200M
YoY Change -25.86% -52.3% -68.42%
Accrued Expenses $1.800M $1.800M $1.600M
YoY Change 5.88% 5.88% -11.11%
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 $2.495M $5.737M $5.700M
YoY Change -5.05% 62.16% 3.64%
LONG-TERM LIABILITIES
Long-Term Debt $35.00M $51.00M $40.40M
YoY Change -15.66% -2.34% -19.2%
Other Long-Term Liabilities $2.800M $3.200M $3.100M
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Liabilities $35.00M $51.00M $43.50M
YoY Change -15.66% -2.34% -18.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.495M $5.737M $5.700M
Total Long-Term Liabilities $35.00M $51.00M $43.50M
Total Liabilities $37.49M $56.74M $67.30M
YoY Change -15.03% 1.75% -24.8%
SHAREHOLDERS EQUITY
Retained Earnings $82.42M $125.3M
YoY Change 10.53%
Common Stock $3.315M $3.106M
YoY Change 3.29%
Preferred Stock
YoY Change
Treasury Stock (at cost) $8.269M $2.558M
YoY Change -17.21%
Treasury Stock Shares $553.1K $145.5K
Shareholders Equity $80.11M $128.8M $129.2M
YoY Change
Total Liabilities & Shareholders Equity $127.1M $206.7M $196.5M
YoY Change -39.08% 0.0% -4.37%

Cashflow Statement

Concept 2019 Q4 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income $1.892M $555.6K -$775.1K
YoY Change -85.14% -46.53% -161.48%
Depreciation, Depletion And Amortization $2.956M $4.260M $4.620M
YoY Change -22.5% -10.32% -2.01%
Cash From Operating Activities $2.098M $5.280M $6.300M
YoY Change -47.67% -18.01% 26.76%
INVESTING ACTIVITIES
Capital Expenditures -$110.0K -$3.850M -$1.200M
YoY Change -92.41% -50.64% -88.34%
Acquisitions $10.17M
YoY Change 2304.87%
Other Investing Activities -$6.800M -$10.36M -$1.020M
YoY Change -178.43%
Cash From Investing Activities -$6.902M -$14.21M -$2.210M
YoY Change -195.49% 82.18% -78.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $7.635K
YoY Change -99.33%
Debt Paid & Issued, Net $5.199M
YoY Change -61.0%
Cash From Financing Activities -1.089M 8.980M -3.780M
YoY Change -90.38% 560.29% -170.92%
NET CHANGE
Cash From Operating Activities 2.098M 5.280M 6.300M
Cash From Investing Activities -6.902M -14.21M -2.210M
Cash From Financing Activities -1.089M 8.980M -3.780M
Net Change In Cash -5.892M 50.00K 310.0K
YoY Change 7580.96% 3000.0%
FREE CASH FLOW
Cash From Operating Activities $2.098M $5.280M $6.300M
Capital Expenditures -$110.0K -$3.850M -$1.200M
Free Cash Flow $2.208M $9.130M $7.500M
YoY Change -59.55% -35.88% -50.85%

Facts In Submission

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CY2019 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
105217
CY2018 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-140600
CY2017 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-103389
CY2019 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-7166
CY2018 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
62295
CY2019 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
639856
CY2018 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
100328
CY2017 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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CY2019 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
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CY2018 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
12308225
CY2017 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
17226259
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
21005684
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
26943894
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
20758192
CY2019 us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
3526007
CY2018 us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
11590135
CY2017 us-gaap Payments To Acquire Oil And Gas Property And Equipment
PaymentsToAcquireOilAndGasPropertyAndEquipment
25807897
CY2019 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
5662869
CY2018 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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CY2019 phx Proceeds From Payment To Acquire Investments In Partnerships
ProceedsFromPaymentToAcquireInvestmentsInPartnerships
-1648
CY2018 phx Proceeds From Payment To Acquire Investments In Partnerships
ProceedsFromPaymentToAcquireInvestmentsInPartnerships
3354
CY2017 phx Proceeds From Payment To Acquire Investments In Partnerships
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-23563
CY2019 us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
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CY2018 us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
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CY2017 us-gaap Proceeds From Sale Of Oil And Gas Property And Equipment
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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
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10325211
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
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CY2017 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019 us-gaap Proceeds From Issuance Of Long Term Debt
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16642481
CY2018 us-gaap Proceeds From Issuance Of Long Term Debt
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29017800
CY2017 us-gaap Proceeds From Issuance Of Long Term Debt
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27809185
CY2019 us-gaap Repayments Of Long Term Debt
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32217481
CY2018 us-gaap Repayments Of Long Term Debt
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30239800
CY2019 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
7454000
CY2017 us-gaap Payments Of Dividends Common Stock
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2684001
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5140168
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4436146
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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5628189
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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-25289
CY2017 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
86578
CY2017Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
557791
CY2016Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
471213
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6160691
CY2019 us-gaap Interest Paid Net
InterestPaidNet
2031762
CY2018 us-gaap Interest Paid Net
InterestPaidNet
1730461
CY2017 us-gaap Interest Paid Net
InterestPaidNet
1212878
CY2019 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
103279
CY2018 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-232782
CY2017 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
720072
CY2019 us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
27782
CY2018 us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
17216
CY2017 us-gaap Increase Decrease In Asset Retirement Obligations
IncreaseDecreaseInAssetRetirementObligations
624893
CY2019 phx Payments To Acquire Oil And Gas Property And Equipment Gross
PaymentsToAcquireOilAndGasPropertyAndEquipmentGross
9248415
CY2018 phx Payments To Acquire Oil And Gas Property And Equipment Gross
PaymentsToAcquireOilAndGasPropertyAndEquipmentGross
21711279
CY2017 phx Payments To Acquire Oil And Gas Property And Equipment Gross
PaymentsToAcquireOilAndGasPropertyAndEquipmentGross
25406894
CY2019 phx Increase Decrease In Accounts Payable For Properties And Equipment Additions Net
IncreaseDecreaseInAccountsPayableForPropertiesAndEquipmentAdditionsNet
-59539
CY2018 phx Increase Decrease In Accounts Payable For Properties And Equipment Additions Net
IncreaseDecreaseInAccountsPayableForPropertiesAndEquipmentAdditionsNet
1206227
CY2017 phx Increase Decrease In Accounts Payable For Properties And Equipment Additions Net
IncreaseDecreaseInAccountsPayableForPropertiesAndEquipmentAdditionsNet
401003
CY2019 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
9188876
CY2018 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
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CY2017 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
25807897
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:12pt;text-align:left;margin-bottom:0pt;text-indent:7.69%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:12pt;text-align:left;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts and disclosures reported in the financial statements and accompanying notes. Actual results could differ from those estimates.</p> <p style="margin-top:12pt;text-align:left;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Of these estimates and assumptions, management considers the estimation of crude oil, NGL and natural gas reserves to be the most significant. These estimates affect the unaudited standardized measure disclosures, as well as DD&amp;A and impairment calculations. The Company&#8217;s Independent Consulting Petroleum Engineer, with assistance from the Company, prepares estimates of crude oil, NGL and natural gas reserves on an annual basis, with a semi-annual update. These estimates are based on available geologic and seismic data, reservoir pressure data, core analysis reports, well logs, analogous reservoir performance history, production data and other available sources of engineering, geological and geophysical information. For DD&amp;A purposes, and as required by the guidelines and definitions established by the SEC, the reserve estimates were based on average individual product prices during the 12-month period prior to September 30, determined as an unweighted arithmetic average of the first-day-of-the-month price for each month within such period, unless prices were defined by contractual arrangements, excluding escalations based upon future conditions. For impairment purposes, projected future crude oil, NGL and natural gas prices as estimated by management are used. Crude oil, NGL and natural gas prices are volatile and largely affected by worldwide production and consumption and are outside the control of management. Management uses projected future crude oil, NGL and natural gas pricing assumptions to prepare estimates of crude oil, NGL and natural gas reserves used in formulating management&#8217;s overall operating decisions.</p> <p style="margin-top:12pt;text-align:left;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company does not operate its oil and natural gas properties and, therefore, receives actual oil, NGL and natural gas sales volumes and prices (in the normal course of business) more than a month later than the information is available to the operators of the wells. This being the case, on wells with greater significance to the Company, the most current available production data is gathered from the appropriate operators, and oil, NGL and natural gas index prices local to each well are used to estimate the accrual of revenue on these wells. Timely obtaining production data on all other wells from the operators is not feasible; therefore, the Company utilizes past production receipts and estimated sales price information to estimate its accrual of revenue on all other wells each quarter. The oil, NGL and natural gas sales revenue accrual can be impacted by many variables including rapid production decline rates, production curtailments by operators, the shut-in of wells with mechanical problems and rapidly changing market prices for oil, NGL and natural gas. These variables could lead to an over or under accrual of oil, NGL and natural gas sales at the end of any particular quarter. Based on past history, the Company&#8217;s estimated accrual has been materially accurate.</p>
CY2019 us-gaap Property Plant And Equipment Impairment
PropertyPlantAndEquipmentImpairment
<p style="margin-top:12pt;text-align:left;margin-bottom:0pt;text-indent:7.69%;font-style:italic;font-size:12pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Impairment</p> <p style="margin-top:12pt;text-align:left;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company recognizes impairment losses for long-lived assets when indicators of impairment are present and the undiscounted cash flows are not sufficient to recover the assets&#8217; carrying amount. The impairment loss is measured by comparing the<font style="font-weight:bold;"> </font>fair value of the asset to its carrying amount. Fair values are based on discounted cash flow as estimated by the Company, market quotes where available or fair value (sales price) less cost to sell if the property is held for sale. The Company's estimate of fair value of its oil and natural gas properties at September&#160;30, 2019, is based on the best information available as of that date, including estimates of forward oil, NGL and natural gas prices and costs along with market quotes for specific assets. The Company&#8217;s oil and natural gas properties were reviewed for impairment on a field-by-field basis, resulting in the recognition of impairment provisions of $76,824,337, $0 and $662,990 for 2019, 2018 and 2017, respectively. </p> <p style="margin-top:12pt;text-align:left;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">At the end of 2019, impairment of $76,560,376 was recorded on our Eagle Ford assets. The remaining $263,961 of impairment was taken on other assets. The impairment on the Eagle Ford assets was caused by the Company making the strategic decision to cease participating with a working interest on its mineral and leasehold acreage going forward and therefore removing all working interest PUDs from the Company&#8217;s reserve reports. The removal of the PUDs caused the Eagle Ford assets to fail the step one test for impairment, as its undiscounted cash flows were not high enough to cover the book basis of the assets. These assets were written down to their fair market value as required by GAAP. The Company determined the fair value based on discounted cash flows of the properties as well as active market bids received from interested potential buyers. The discounted cash flows of the properties were prepared using NYMEX strip pricing as of year-end, using a discount rate of 10% for proved developed and assigning no value to undeveloped locations. Market bids received from interested potential buyers corroborated the fair value of the discounted cash flows as of year-end. The fair value was determined to be $9.1 million based on the discounted cash flows and market quotes. The Company decided not to sell the assets after the marketing process was complete, as we believed that the market conditions were not ideal for selling at that time and that the highest and best use of the assets was to continue to own and produce out the Eagle Ford properties.</p> <p style="margin-top:12pt;text-align:left;margin-bottom:0pt;text-indent:7.69%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A further reduction in oil, NGL and natural gas prices or a decline in reserve volumes may lead to additional impairment in future periods that may be material to the Company.&#160;</p>
CY2019Q3 phx Derivative Asset Fair Value Gross Non Current Asset
DerivativeAssetFairValueGrossNonCurrentAsset
237505
CY2019 phx Producing Properties Fair Value
ProducingPropertiesFairValue
9101032
CY2017 phx Producing Properties Fair Value
ProducingPropertiesFairValue
567077
CY2019Q3 phx Non Producing Minerals Book Value Net
NonProducingMineralsBookValueNet
9673787
CY2018Q3 phx Non Producing Minerals Book Value Net
NonProducingMineralsBookValueNet
8025015
CY2019Q3 phx Percentage Holding Of Mineral Interest
PercentageHoldingOfMineralInterest
0.91
CY2019 phx Mineral Rights Accumulated Period
MineralRightsAccumulatedPeriod
P93Y
CY2019Q3 phx Area Of Non Producing Minerals
AreaOfNonProducingMinerals
197468
CY2019Q3 phx Number Of Tracts Owned
NumberOfTractsOwned
6688
CY2019Q3 phx Area Held Per Tract
AreaHeldPerTract
30
CY2019Q3 phx Average Cost Per Acre
AverageCostPerAcre
73
CY2019 phx Non Producing Minerals Amortization Period
NonProducingMineralsAmortizationPeriod
P33Y
CY2019 phx Producing Minerals Straight Line Amortization Period
ProducingMineralsStraightLineAmortizationPeriod
P20Y
CY2019 phx Insignificant Fields Straight Line Amortization Period
InsignificantFieldsStraightLineAmortizationPeriod
P10Y
CY2018 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2019Q3 us-gaap Productive Oil Wells Number Of Wells Gross
ProductiveOilWellsNumberOfWellsGross
6496
CY2019 phx Percentage Of Oil Natural Gas Liquids And Natural Gas Sales Were Derived From Sale Of Oil
PercentageOfOilNaturalGasLiquidsAndNaturalGasSalesWereDerivedFromSaleOfOil
0.46
CY2019 phx Percentage Of Oil Natural Gas Liquids And Natural Gas Sales Were Derived From Sale Of Natural Gas Liquids
PercentageOfOilNaturalGasLiquidsAndNaturalGasSalesWereDerivedFromSaleOfNaturalGasLiquids
0.09
CY2019 phx Percentage Of Oil Natural Gas Liquids And Natural Gas Sales Were Derived From Sale Of Natural Gas
PercentageOfOilNaturalGasLiquidsAndNaturalGasSalesWereDerivedFromSaleOfNaturalGas
0.45
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
CY2017 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
CY2019Q3 us-gaap Derivative Assets
DerivativeAssets
2494144
CY2018Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
3414016
CY2018 phx Net Cash Paid On Derivatives Settled
NetCashPaidOnDerivativesSettled
1001893
CY2019 phx Percentage Of Discount Rate For Developed Location
PercentageOfDiscountRateForDevelopedLocation
0.10
CY2019 phx Percentage Of Discount Rate For Undeveloped Location
PercentageOfDiscountRateForUndevelopedLocation
0.00
CY2019 phx Fair Value Of Discounted Cash Flows And Market Quoted Amount
FairValueOfDiscountedCashFlowsAndMarketQuotedAmount
9100000
CY2019 phx Number Of Non Core Wells Sold
NumberOfNonCoreWellsSold
112
CY2018 phx Number Of Non Core Wells Sold
NumberOfNonCoreWellsSold
324
CY2019Q3 phx Area Of Mineral And Non Participating Royalty Acreage Sold
AreaOfMineralAndNonParticipatingRoyaltyAcreageSold
890
CY2019 us-gaap Increase Decrease In Assets Held For Sale
IncreaseDecreaseInAssetsHeldForSale
786000
CY2018 us-gaap Increase Decrease In Assets Held For Sale
IncreaseDecreaseInAssetsHeldForSale
1700000
CY2019 phx Gain On Asset Sales
GainOnAssetSales
18973426
CY2017 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
168351
CY2017 us-gaap Interest Costs Incurred
InterestCostsIncurred
1275138
CY2019Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1446710
CY2019 phx Net Cash Received On Derivatives Settled
NetCashReceivedOnDerivativesSettled
196985
CY2017 phx Net Cash Received On Derivatives Settled
NetCashReceivedOnDerivativesSettled
305410
CY2019Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
2256639
CY2018Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
42150
CY2018Q3 phx Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral Current
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateralCurrent
42150
CY2018Q3 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
3106196
CY2018Q3 phx Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral Current
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateralCurrent
42150
CY2018Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
905445
CY2019Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
396954
CY2018Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
253850
CY2019Q3 phx Accrued Ad Valorem Taxes Current
AccruedAdValoremTaxesCurrent
260550
CY2018Q3 phx Accrued Ad Valorem Taxes Current
AccruedAdValoremTaxesCurrent
317105
CY2019Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
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CY2018Q3 us-gaap Other Accrued Liabilities Current
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315550
CY2017Q3 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
3196889
CY2019 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
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CY2018 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
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CY2019 us-gaap Asset Retirement Obligation Liabilities Settled
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CY2018 us-gaap Asset Retirement Obligation Liabilities Settled
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CY2019 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
132710
CY2018 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
138166
CY2017Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21
CY2018 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
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12464000
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-6.72
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
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-0.25
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
122659
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
0
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
0
CY2019 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
218899
CY2019 us-gaap Income Tax Reconciliation Other Reconciling Items
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177637
CY2018 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
215803
CY2017 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
206366
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2019 us-gaap Revenue Practical Expedient Financing Component
RevenuePracticalExpedientFinancingComponent
true
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
204000
CY2017 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
314000
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
19000
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
20000
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
224000
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
314000
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-9763000
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-13240000
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
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390000
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-2349000
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
277000
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
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-15000
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-11387447
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
465253
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
1477327
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Depletion
IncomeTaxReconciliationNondeductibleExpenseDepletion
-431340
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Depletion
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-577780
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense Depletion
IncomeTaxReconciliationNondeductibleExpenseDepletion
-570801
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1986850
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
36980
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
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3900
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
85644
CY2019 phx Income Tax Reconciliation Restricted Stock Tax Benefit
IncomeTaxReconciliationRestrictedStockTaxBenefit
-185000
CY2018 phx Income Tax Reconciliation Restricted Stock Tax Benefit
IncomeTaxReconciliationRestrictedStockTaxBenefit
69000
CY2017 phx Income Tax Reconciliation Restricted Stock Tax Benefit
IncomeTaxReconciliationRestrictedStockTaxBenefit
238000
CY2019 phx Income Tax Reconciliation Deferred Directors Compensation Benefit
IncomeTaxReconciliationDeferredDirectorsCompensationBenefit
38000
CY2018 phx Income Tax Reconciliation Deferred Directors Compensation Benefit
IncomeTaxReconciliationDeferredDirectorsCompensationBenefit
134000
CY2017 phx Income Tax Reconciliation Deferred Directors Compensation Benefit
IncomeTaxReconciliationDeferredDirectorsCompensationBenefit
79000
CY2018 phx Tax Cuts And Jobs Act Of2017 Change In Tax Rate Deferred Tax Liability Income Tax Benefit
TaxCutsAndJobsActOf2017ChangeInTaxRateDeferredTaxLiabilityIncomeTaxBenefit
12464000
CY2018 us-gaap Income Tax Reconciliation Other Reconciling Items
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3547
CY2017 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
9930
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21
CY2019Q3 us-gaap Deferred Tax Liabilities Deferred Expense
DeferredTaxLiabilitiesDeferredExpense
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CY2018Q3 us-gaap Deferred Tax Liabilities Deferred Expense
DeferredTaxLiabilitiesDeferredExpense
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CY2019Q3 us-gaap Deferred Tax Liabilities Derivatives
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25072122
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CY2018 srt Standardized Measure Of Discounted Future Net Cash Flow Relating To Proved Oil And Gas Reserves Accretion Of Discount
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CY2019 srt Increase Decrease In Future Income Tax Expense Estimates On Future Cash Flows Related To Proved Oil And Gas Reserves
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CY2019 srt Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Period Increase Decrease
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CY2017 srt Standardized Measure Of Discounted Future Net Cash Flow Of Proved Oil And Gas Reserves Period Increase Decrease
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