10-Q Filing

Riley Exploration Permian, Inc. CIK: 1001614 Q2 2011

Filing Information

Form Type	10-Q
Accession Number	`0001001614-11-000033`
Period End Date	20110630
Filing Date	20110815
Fiscal Year	2011
Fiscal Period	Q2
XBRL Instance	tgc-20110630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 73 Income Statement 62 Cash Flow Statement 66 Stockholders Equity 9

Balance Sheet 73 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$89.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$141.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$540.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$422.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	60.69M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.52M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	60.69M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.53M	USD	Point-in-time
Accounts receivable - related party	`DueFromRelatedPartiesCurrent`	$993.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	60.69M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	60.69M	shares	Point-in-time
Accounts receivable - related party	`DueFromRelatedPartiesCurrent`	$705.00K	USD	Point-in-time
Inventory	`InventoryNet`	$692.00K	USD	Point-in-time
Inventory	`InventoryNet`	$577.00K	USD	Point-in-time
Deferred tax asset-current	`DeferredTaxAssetsNetCurrent`	$264.00K	USD	Point-in-time
Unrealized derivative asset-current	`DerivativeAssetsCurrent`	$90.00K	USD	Point-in-time
Other assets- current	`OtherAssetsCurrent`	$75.00K	USD	Point-in-time
Other assets- current	`OtherAssetsCurrent`	$33.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.52M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.19M	USD	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsNoncurrent`	$121.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndInvestmentsNoncurrent`	$121.00K	USD	Point-in-time
Loan fees, net	`DeferredFinanceCostsNoncurrentNet`	$99.00K	USD	Point-in-time
Loan fees, net	`DeferredFinanceCostsNoncurrentNet`	$121.00K	USD	Point-in-time
Oil and gas properties, net (full cost accounting method)	`OilAndGasPropertyFullCostMethodNet`	$16.30M	USD	Point-in-time
Oil and gas properties, net (full cost accounting method)	`OilAndGasPropertyFullCostMethodNet`	$14.16M	USD	Point-in-time
Pipeline facilities, net	`PipelineFacilitiesNet`	$7.04M	USD	Point-in-time
Pipeline facilities, net	`PipelineFacilitiesNet`	$6.95M	USD	Point-in-time
Methane project, net	`MethaneProjectNet`	$4.86M	USD	Point-in-time
Methane project, net	`MethaneProjectNet`	$4.39M	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$308.00K	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$382.00K	USD	Point-in-time
Deferred tax asset-noncurrent	`DeferredTaxAssetsNetNoncurrent`	$9.54M	USD	Point-in-time
Deferred tax asset-noncurrent	`DeferredTaxAssetsNetNoncurrent`	$10.10M	USD	Point-in-time
Unrealized derivative asset-noncurrent	`DerivativeAssetsNoncurrent`	$140.00K	USD	Point-in-time
Other assets-noncurrent	`OtherAssetsNoncurrent`	$37.00K	USD	Point-in-time
Other assets-noncurrent	`OtherAssetsNoncurrent`	$9.00K	USD	Point-in-time
Total assets	`Assets`	$41.64M	USD	Point-in-time
Total assets	`Assets`	$39.75M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableCurrent`	$774.00K	USD	Point-in-time
Accounts payable - trade	`AccountsPayableCurrent`	$550.00K	USD	Point-in-time
Accounts payable - other	`AccountsPayableOtherCurrent`	$993.00K	USD	Point-in-time
Accounts payable - other	`AccountsPayableOtherCurrent`	$705.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$571.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$542.00K	USD	Point-in-time
Prepaid revenues - current	`DeferredRevenueCurrent`	$594.00K	USD	Point-in-time
Prepaid revenues - current	`DeferredRevenueCurrent`	$178.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$107.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$129.00K	USD	Point-in-time
Unrealized derivative liability - current	`DerivativeLiabilitiesCurrent`	$104.00K	USD	Point-in-time
Unrealized derivative liability - current	`DerivativeLiabilitiesCurrent`	$687.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.52M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$1.44M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$1.45M	USD	Point-in-time
Long term debt, less current maturities	`LongTermDebtNoncurrent`	$11.13M	USD	Point-in-time
Long term debt, less current maturities	`LongTermDebtNoncurrent`	$9.56M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$14.53M	USD	Point-in-time
Common stock, $.001 par value; authorized 100,000,000 shares; 60,687,413 shares issued and outstanding	`CommonStockValue`	$61.00K	USD	Point-in-time
Common stock, $.001 par value; authorized 100,000,000 shares; 60,687,413 shares issued and outstanding	`CommonStockValue`	$61.00K	USD	Point-in-time
Additional paid -in capital	`AdditionalPaidInCapital`	$55.40M	USD	Point-in-time
Additional paid -in capital	`AdditionalPaidInCapital`	$55.49M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-30.24M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-28.91M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$25.22M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$26.64M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$39.75M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$41.64M	USD	Point-in-time

Income Statement 62 line items

Line Item	Tag	Value	Unit	Period
Revenues	`OilAndGasRevenue`	$6.14M	USD	2 Qtrs
Revenues	`OilAndGasRevenue`	$4.79M	USD	1 Quarter
Revenues	`OilAndGasRevenue`	$3.29M	USD	1 Quarter
Revenues	`OilAndGasRevenue`	$8.45M	USD	2 Qtrs
Production costs and taxes	`ProductionCostsAndTaxes`	$1.68M	USD	1 Quarter
Production costs and taxes	`ProductionCostsAndTaxes`	$2.85M	USD	2 Qtrs
Production costs and taxes	`ProductionCostsAndTaxes`	$3.20M	USD	2 Qtrs
Production costs and taxes	`ProductionCostsAndTaxes`	$1.53M	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$666.00K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$1.24M	USD	2 Qtrs
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$628.00K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$1.15M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$719.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$560.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.15M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.24M	USD	2 Qtrs
Total cost and expenses	`OperatingCostsAndExpenses`	$2.72M	USD	1 Quarter
Total cost and expenses	`OperatingCostsAndExpenses`	$5.68M	USD	2 Qtrs
Total cost and expenses	`OperatingCostsAndExpenses`	$5.15M	USD	2 Qtrs
Total cost and expenses	`OperatingCostsAndExpenses`	$3.06M	USD	1 Quarter
Net income from operations	`OperatingIncomeLoss`	$989.00K	USD	2 Qtrs
Net income from operations	`OperatingIncomeLoss`	$568.00K	USD	1 Quarter
Net income from operations	`OperatingIncomeLoss`	$2.77M	USD	2 Qtrs
Net income from operations	`OperatingIncomeLoss`	$1.72M	USD	1 Quarter
Interest expense	`InterestExpense`	$174.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$164.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$352.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$309.00K	USD	2 Qtrs
Gain (loss) on derivatives	`GainLossOnOilAndGasHedgingActivity`	$883.00K	USD	2 Qtrs
Gain (loss) on derivatives	`GainLossOnOilAndGasHedgingActivity`	$60.00K	USD	1 Quarter
Gain (loss) on derivatives	`GainLossOnOilAndGasHedgingActivity`	$721.00K	USD	1 Quarter
Gain (loss) on derivatives	`GainLossOnOilAndGasHedgingActivity`	$-306.00K	USD	2 Qtrs
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$8.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$11.00K	USD	2 Qtrs
Total other income (expenses)	`NonoperatingIncomeExpense`	$531.00K	USD	2 Qtrs
Total other income (expenses)	`NonoperatingIncomeExpense`	$-96.00K	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$547.00K	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$-604.00K	USD	2 Qtrs
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.11M	USD	1 Quarter
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.63M	USD	1 Quarter
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$2.16M	USD	2 Qtrs
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.52M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$831.00K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$516.00K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$649.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$379.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$977.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.00M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$736.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.33M	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.02	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.02	USD	2 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.01	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.02	USD	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	60.69M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	60.69M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	60.51M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	60.14M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.76M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.61M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.76M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.24M	shares	2 Qtrs

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$977.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.00M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$736.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.33M	USD	2 Qtrs
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$666.00K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$1.24M	USD	2 Qtrs
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$628.00K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$1.15M	USD	2 Qtrs
Amortization of loan fees-interest expense	`AmortizationOfFinancingCosts`	$38.00K	USD	2 Qtrs
Amortization of loan fees-interest expense	`AmortizationOfFinancingCosts`	$52.00K	USD	2 Qtrs
Accretion on asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$25.00K	USD	2 Qtrs
Accretion on asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$51.00K	USD	2 Qtrs
Gain on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$11.00K	USD	2 Qtrs
Compensation and services paid in stock options and stock	`ShareBasedCompensation`	$85.00K	USD	2 Qtrs
Compensation and services paid in stock options and stock	`ShareBasedCompensation`	$39.00K	USD	2 Qtrs
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$823.00K	USD	2 Qtrs
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$516.00K	USD	2 Qtrs
Loss (gain) on derivatives	`UnrealizedGainLossOnDerivatives`	$-306.00K	USD	2 Qtrs
Loss (gain) on derivatives	`UnrealizedGainLossOnDerivatives`	$883.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$130.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$18.00K	USD	2 Qtrs
Accounts receivable - related party	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$-288.00K	USD	2 Qtrs
Accounts receivable - related party	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$1.56M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$39.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$115.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$69.00K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$45.00K	USD	2 Qtrs
Accounts payable-trade	`IncreaseDecreaseInAccountsPayableTrade`	$223.00K	USD	2 Qtrs
Accounts payable-trade	`IncreaseDecreaseInAccountsPayableTrade`	$-386.00K	USD	2 Qtrs
Accounts payable-other	`IncreaseDecreaseInOtherAccountsPayable`	$-288.00K	USD	2 Qtrs
Accounts payable-other	`IncreaseDecreaseInOtherAccountsPayable`	$1.56M	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-22.00K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-28.00K	USD	2 Qtrs
Settlement on asset retirement obligation	`AssetRetirementObligationLiabilitiesSettled`	$-66.00K	USD	2 Qtrs
Settlement on asset retirement obligation	`AssetRetirementObligationLiabilitiesSettled`	$-50.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.79M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.23M	USD	2 Qtrs
Net additions to oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$3.53M	USD	2 Qtrs
Net additions to oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$1.04M	USD	2 Qtrs
Net additions to methane project	`PaymentsToAcquirePropertyPlantAndEquipment`	$512.00K	USD	2 Qtrs
Net additions to other property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$41.00K	USD	2 Qtrs
Derivative costs and settlements	`PaymentsForDerivativeInstrumentInvestingActivities`	$1.12M	USD	2 Qtrs
Derivative costs and settlements	`PaymentsForDerivativeInstrumentInvestingActivities`	$29.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.07M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.20M	USD	2 Qtrs
Repayments of borrowings	`RepaymentsOfDebt`	$96.00K	USD	2 Qtrs
Repayments of borrowings	`RepaymentsOfDebt`	$61.00K	USD	2 Qtrs
Proceeds from borrowings	`LineOfCreditFacilityIncreaseAdditionalBorrowings`	$-1.52M	USD	2 Qtrs
Loan fees	`PaymentsOfLoanCosts`	$60.00K	USD	2 Qtrs
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$15.00K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.36M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-46.00K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$118.00K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-52.00K	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$89.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$141.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$540.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$422.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$89.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$141.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$540.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$422.00K	USD	Point-in-time
Cash interest payments	`InterestPaid`	$271.00K	USD	2 Qtrs
Cash interest payments	`InterestPaid`	$300.00K	USD	2 Qtrs
Financed company vehicles	`FinancedCompanyVehicles`	$19.00K	USD	2 Qtrs
Financed company vehicles	`FinancedCompanyVehicles`	$128.00K	USD	2 Qtrs

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$25.22M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$26.64M	USD	Point-in-time
Net income	`NetIncomeLoss`	$977.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.00M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$736.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.33M	USD	2 Qtrs
Option and compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$85.00K	USD	2 Qtrs
Ending balance, value	`StockholdersEquity`	$25.22M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$26.64M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.