Gulfport Energy's Accounts Payable In Addition To Accrued Liabilities
Gulfport Energy reports afterwards this week. Strangely ane of the residual canvas items that most intrigues me is their accounts payable as well as accrued liabilities.
Here is the electrical flow liability department from the concluding 10-Q.
I simply desire you lot to regime annotation that accounts payable as well as accrued liabilities are simply over 107 million. That is upwards from 44 1000000 at Dec 2011 as well as from 96 1000000 inward the second quarter.
And hither is the lucre loss tilt listing all expenses for the by ix months.
I desire you lot to honour that the exclusively expenses inward the by ix months are:
The depreciation, depletion as well as amortization is - I presume - non cash. Cash expenses for the ix months add together upwards to virtually $50 million.
I presume most of those were paid relatively promptly. (It does non endear you lot to regulators for event if you lot create non pay your production taxes.)
Simple question
What classify of concern is it that accrues $107 1000000 inward (unpaid) electrical flow liabilities but incurs exclusively virtually $50 1000000 of expense over the by ix months?
I convey spent a fighting of fourth dimension puzzling out the response - but I volition teach out that for to a greater extent than or less other post.
John
Disclosure: brusk Gulfport.
Here is the electrical flow liability department from the concluding 10-Q.
GULFPORT ENERGY CORPORATION CONSOLIDATED BALANCE SHEETS (Unaudited) | |||||||
September 30, 2012 | December 31, 2011 | ||||||
Current liabilities: | |||||||
Accounts payable as well as accrued liabilities | $ | 107,058,000 | $ | 43,872,000 | |||
Asset retirement obligation - current | 60,000 | 620,000 | |||||
Short-term derivative instruments | 8,816,000 | — | |||||
Current maturities of long-term debt | 147,000 | 141,000 | |||||
Total electrical flow liabilities | 116,081,000 | 44,633,000 | |||||
I simply desire you lot to regime annotation that accounts payable as well as accrued liabilities are simply over 107 million. That is upwards from 44 1000000 at Dec 2011 as well as from 96 1000000 inward the second quarter.
And hither is the lucre loss tilt listing all expenses for the by ix months.
GULFPORT ENERGY CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) | |||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2012 | 2011 | 2012 | 2011 | ||||||||||||
Revenues: | |||||||||||||||
Oil as well as condensate sales | $ | 58,609,000 | $ | 56,447,000 | $ | 187,633,000 | $ | 154,559,000 | |||||||
Gas sales | 973,000 | 923,000 | 2,127,000 | 3,155,000 | |||||||||||
Natural gas liquids sales | 874,000 | 653,000 | 2,374,000 | 2,346,000 | |||||||||||
Other income | 81,000 | 58,000 | 189,000 | 248,000 | |||||||||||
60,537,000 | 58,081,000 | 192,323,000 | 160,308,000 | ||||||||||||
Costs as well as expenses: | |||||||||||||||
Lease operating expenses | 6,638,000 | 5,744,000 | 18,201,000 | 15,103,000 | |||||||||||
Production taxes | 7,070,000 | 6,281,000 | 22,411,000 | 18,520,000 | |||||||||||
Depreciation, depletion, as well as amortization | 25,377,000 | 14,736,000 | 70,424,000 | 40,606,000 | |||||||||||
General as well as administrative | 3,098,000 | 2,034,000 | 9,370,000 | 6,209,000 | |||||||||||
Accretion expense | 176,000 | 168,000 | 529,000 | 491,000 | |||||||||||
42,359,000 | 28,963,000 | 120,935,000 | 80,929,000 | ||||||||||||
INCOME FROM OPERATIONS: | 18,178,000 | 29,118,000 | 71,388,000 | 79,379,000 |
I desire you lot to honour that the exclusively expenses inward the by ix months are:
- 18.2 1000000 of lease operating expenses
- 22.4 1000000 of production taxes
- 70.4 1000000 of depreciation, depletion as well as amortization
- 9.4 1000000 of full general administrative expenses, and
- 0.5 1000000 of accretion expense (though I am non certain I know what that is).
The depreciation, depletion as well as amortization is - I presume - non cash. Cash expenses for the ix months add together upwards to virtually $50 million.
I presume most of those were paid relatively promptly. (It does non endear you lot to regulators for event if you lot create non pay your production taxes.)
Simple question
What classify of concern is it that accrues $107 1000000 inward (unpaid) electrical flow liabilities but incurs exclusively virtually $50 1000000 of expense over the by ix months?
I convey spent a fighting of fourth dimension puzzling out the response - but I volition teach out that for to a greater extent than or less other post.
John
Disclosure: brusk Gulfport.
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