10-Q Filing

Riley Exploration Permian, Inc. CIK: 1001614 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0001001614-11-000040`
Period End Date	20110930
Filing Date	20111114
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	tgc-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 64 Cash Flow Statement 71 Stockholders Equity 10

Balance Sheet 72 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
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$141.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$71.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$422.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$371.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.88M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.52M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	60.74M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	60.69M	shares	Point-in-time
Accounts receivable - related party	`DueFromRelatedPartiesCurrent`	$993.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	60.74M	shares	Point-in-time
Accounts receivable - related party	`DueFromRelatedPartiesCurrent`	$460.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	60.69M	shares	Point-in-time
Inventory	`InventoryNet`	$577.00K	USD	Point-in-time
Inventory	`InventoryNet`	$633.00K	USD	Point-in-time
Deferred tax asset-current	`DeferredTaxAssetsNetCurrent`	$264.00K	USD	Point-in-time
Unrealized derivative asset-current	`DerivativeAssetsCurrent`	$477.00K	USD	Point-in-time
Other assets- current	`OtherAssetsCurrent`	$84.00K	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`	$3.61M	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`	$101.00K	USD	Point-in-time
Loan fees, net	`DeferredFinanceCostsNoncurrentNet`	$99.00K	USD	Point-in-time
Oil and gas properties, net (full cost accounting method)	`OilAndGasPropertyFullCostMethodNet`	$17.96M	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`	$6.91M	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`	$357.00K	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$308.00K	USD	Point-in-time
Deferred tax asset-noncurrent	`DeferredTaxAssetsNetNoncurrent`	$8.79M	USD	Point-in-time
Deferred tax asset-noncurrent	`DeferredTaxAssetsNetNoncurrent`	$10.10M	USD	Point-in-time
Unrealized derivative asset-noncurrent	`DerivativeAssetsNoncurrent`	$186.00K	USD	Point-in-time
Other assets-noncurrent	`OtherAssetsNoncurrent`	$31.00K	USD	Point-in-time
Other assets-noncurrent	`OtherAssetsNoncurrent`	$9.00K	USD	Point-in-time
Total assets	`Assets`	$42.94M	USD	Point-in-time
Total assets	`Assets`	$39.75M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableCurrent`	$1.41M	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`	$460.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$571.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$623.00K	USD	Point-in-time
Prepaid revenues - current	`DeferredRevenueCurrent`	$594.00K	USD	Point-in-time
Prepaid revenues - current	`DeferredRevenueCurrent`	$31.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$97.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$129.00K	USD	Point-in-time
Unrealized derivative liability - current	`DerivativeLiabilitiesCurrent`	$687.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.62M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.52M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$1.42M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$1.44M	USD	Point-in-time
Long term debt, less current maturities	`LongTermDebtNoncurrent`	$11.03M	USD	Point-in-time
Long term debt, less current maturities	`LongTermDebtNoncurrent`	$9.56M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.06M	USD	Point-in-time
Total liabilities	`Liabilities`	$14.53M	USD	Point-in-time
Common stock, $.001 par value; authorized 100,000,000 shares; 60,737,413 and 60,687,413 shares issued and outstanding	`CommonStockValue`	$61.00K	USD	Point-in-time
Common stock, $.001 par value; authorized 100,000,000 shares; 60,737,413 and 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`	$55.54M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-27.72M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-30.24M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$27.88M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$25.22M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$42.94M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$39.75M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Revenues	`OilAndGasRevenue`	$4.36M	USD	1 Quarter
Revenues	`OilAndGasRevenue`	$12.80M	USD	3 Qtrs
Revenues	`OilAndGasRevenue`	$9.43M	USD	3 Qtrs
Revenues	`OilAndGasRevenue`	$3.29M	USD	1 Quarter
Production costs and taxes	`ProductionCostsAndTaxes`	$1.52M	USD	1 Quarter
Production costs and taxes	`ProductionCostsAndTaxes`	$1.55M	USD	1 Quarter
Production costs and taxes	`ProductionCostsAndTaxes`	$4.40M	USD	3 Qtrs
Production costs and taxes	`ProductionCostsAndTaxes`	$4.72M	USD	3 Qtrs
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$650.00K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$1.93M	USD	3 Qtrs
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$1.80M	USD	3 Qtrs
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$694.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$498.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.71M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.74M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$561.00K	USD	1 Quarter
Total cost and expenses	`OperatingCostsAndExpenses`	$2.71M	USD	1 Quarter
Total cost and expenses	`OperatingCostsAndExpenses`	$7.92M	USD	3 Qtrs
Total cost and expenses	`OperatingCostsAndExpenses`	$2.76M	USD	1 Quarter
Total cost and expenses	`OperatingCostsAndExpenses`	$8.39M	USD	3 Qtrs
Net income from operations	`OperatingIncomeLoss`	$1.65M	USD	1 Quarter
Net income from operations	`OperatingIncomeLoss`	$1.51M	USD	3 Qtrs
Net income from operations	`OperatingIncomeLoss`	$4.42M	USD	3 Qtrs
Net income from operations	`OperatingIncomeLoss`	$524.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$162.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$471.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$516.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$164.00K	USD	1 Quarter
Gain (loss) on derivatives	`GainLossOnOilAndGasHedgingActivity`	$794.00K	USD	3 Qtrs
Gain (loss) on derivatives	`GainLossOnOilAndGasHedgingActivity`	$-89.00K	USD	1 Quarter
Gain (loss) on derivatives	`GainLossOnOilAndGasHedgingActivity`	$420.00K	USD	1 Quarter
Gain (loss) on derivatives	`GainLossOnOilAndGasHedgingActivity`	$114.00K	USD	3 Qtrs
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$20.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$30.00K	USD	3 Qtrs
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$15.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$15.00K	USD	3 Qtrs
Total other income (expenses)	`NonoperatingIncomeExpense`	$-327.00K	USD	3 Qtrs
Total other income (expenses)	`NonoperatingIncomeExpense`	$293.00K	USD	3 Qtrs
Total other income (expenses)	`NonoperatingIncomeExpense`	$278.00K	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$-238.00K	USD	1 Quarter
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.81M	USD	3 Qtrs
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$286.00K	USD	1 Quarter
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.09M	USD	3 Qtrs
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.93M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$614.00K	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$98.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.57M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$741.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.19M	USD	1 Quarter
Net income	`NetIncomeLoss`	$188.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.19M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.52M	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.02	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.02	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.04	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	60.69M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	60.69M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	60.69M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	60.32M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.77M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.69M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.64M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.76M	shares	3 Qtrs

Cash Flow Statement 71 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.19M	USD	1 Quarter
Net income	`NetIncomeLoss`	$188.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.19M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.52M	USD	3 Qtrs
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$650.00K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$1.93M	USD	3 Qtrs
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$1.80M	USD	3 Qtrs
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$694.00K	USD	1 Quarter
Amortization of loan fees-interest expense	`AmortizationOfFinancingCosts`	$75.00K	USD	3 Qtrs
Amortization of loan fees-interest expense	`AmortizationOfFinancingCosts`	$58.00K	USD	3 Qtrs
Accretion on asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$74.00K	USD	3 Qtrs
Accretion on asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$36.00K	USD	3 Qtrs
Loss (gain) on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$15.00K	USD	3 Qtrs
Loss (gain) on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$30.00K	USD	3 Qtrs
Compensation and services paid in stock options and stock	`ShareBasedCompensation`	$76.00K	USD	3 Qtrs
Compensation and services paid in stock options and stock	`ShareBasedCompensation`	$107.00K	USD	3 Qtrs
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$1.56M	USD	3 Qtrs
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$614.00K	USD	3 Qtrs
Loss (gain) on derivatives	`UnrealizedGainLossOnDerivatives`	$794.00K	USD	3 Qtrs
Loss (gain) on derivatives	`UnrealizedGainLossOnDerivatives`	$114.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$368.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$128.00K	USD	3 Qtrs
Accounts receivable - related party	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$1.24M	USD	3 Qtrs
Accounts receivable - related party	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$-533.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$56.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-17.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$22.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$72.00K	USD	3 Qtrs
Accounts payable-trade	`IncreaseDecreaseInAccountsPayableTrade`	$856.00K	USD	3 Qtrs
Accounts payable-trade	`IncreaseDecreaseInAccountsPayableTrade`	$-39.00K	USD	3 Qtrs
Accounts payable-other	`IncreaseDecreaseInOtherAccountsPayable`	$1.24M	USD	3 Qtrs
Accounts payable-other	`IncreaseDecreaseInOtherAccountsPayable`	$-533.00K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$168.00K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$53.00K	USD	3 Qtrs
Settlement on asset retirement obligation	`AssetRetirementObligationLiabilitiesSettled`	$-142.00K	USD	3 Qtrs
Settlement on asset retirement obligation	`AssetRetirementObligationLiabilitiesSettled`	$-60.00K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.92M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.38M	USD	3 Qtrs
Net additions to pipeline facilities	`PaymentsForCapitalImprovements`	$22.00K	USD	3 Qtrs
Net additions to oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$2.40M	USD	3 Qtrs
Net additions to oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$5.89M	USD	3 Qtrs
Net additions to methane project	`PaymentsToAcquirePropertyPlantAndEquipment`	$539.00K	USD	3 Qtrs
Net additions to other property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$28.00K	USD	3 Qtrs
Net additions to other property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$16.00K	USD	3 Qtrs
Derivative costs and settlements	`PaymentsForDerivativeInstrumentInvestingActivities`	$29.00K	USD	3 Qtrs
Derivative costs and settlements	`PaymentsForDerivativeInstrumentInvestingActivities`	$1.24M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.69M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.47M	USD	3 Qtrs
Repayments of borrowings	`RepaymentsOfDebt`	$470.00K	USD	3 Qtrs
Repayments of borrowings	`RepaymentsOfDebt`	$138.00K	USD	3 Qtrs
Proceeds from borrowings	`LineOfCreditFacilityIncreaseAdditionalBorrowings`	$-1.42M	USD	3 Qtrs
Loan fees	`PaymentsOfLoanCosts`	$50.00K	USD	3 Qtrs
Loan fees	`PaymentsOfLoanCosts`	$60.00K	USD	3 Qtrs
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$15.00K	USD	3 Qtrs
Proceeds from exercise of options	`ProceedsFromStockOptionsExercised`	$28.00K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-505.00K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.25M	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-70.00K	USD	3 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-51.00K	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$141.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$71.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$422.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$371.00K	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`	$71.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$422.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$371.00K	USD	Point-in-time
Cash interest payments	`InterestPaid`	$441.00K	USD	3 Qtrs
Cash interest payments	`InterestPaid`	$413.00K	USD	3 Qtrs
Financed company vehicles	`FinancedCompanyVehicles`	$44.00K	USD	3 Qtrs
Financed company vehicles	`FinancedCompanyVehicles`	$154.00K	USD	3 Qtrs

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$27.88M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$25.22M	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.19M	USD	1 Quarter
Net income	`NetIncomeLoss`	$188.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.19M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$2.52M	USD	3 Qtrs
Option and compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$107.00K	USD	3 Qtrs
Common stock issued for exercise of options, value	`StockIssuedDuringPeriodValueStockOptionsExercised`	$28.00K	USD	3 Qtrs
Ending balance, value	`StockholdersEquity`	$27.88M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$25.22M	USD	Point-in-time

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