10-Q Filing

Riley Exploration Permian, Inc. CIK: 1001614 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001001614-12-000016`
Period End Date	20120331
Filing Date	20120515
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	tgc-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 32 Cash Flow Statement 66 Stockholders Equity 7

Balance Sheet 68 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`	$68.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$61.00K	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$183.00K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$2.09M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	60.74M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.58M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	60.74M	shares	Point-in-time
Accounts receivable - related party	`DueFromRelatedPartiesCurrent`	$265.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	60.74M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	60.74M	shares	Point-in-time
Accounts receivable - related party	`DueFromRelatedPartiesCurrent`	$236.00K	USD	Point-in-time
Inventory	`InventoryNet`	$823.00K	USD	Point-in-time
Inventory	`InventoryNet`	$2.08M	USD	Point-in-time
Deferred tax asset-current	`DeferredTaxAssetsNetCurrent`	$164.00K	USD	Point-in-time
Deferred tax asset-current	`DeferredTaxAssetsNetCurrent`	$164.00K	USD	Point-in-time
Commodity derivative asset-current	`DerivativeAssetsCurrent`	$21.00K	USD	Point-in-time
Commodity derivative asset-current	`DerivativeAssetsCurrent`	$142.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$79.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$148.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.12M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.80M	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`	$98.00K	USD	Point-in-time
Loan fees, net	`DeferredFinanceCostsNoncurrentNet`	$82.00K	USD	Point-in-time
Oil and gas properties, net (full cost accounting method)	`OilAndGasPropertyFullCostMethodNet`	$22.33M	USD	Point-in-time
Oil and gas properties, net (full cost accounting method)	`OilAndGasPropertyFullCostMethodNet`	$20.21M	USD	Point-in-time
Pipeline facilities, net	`PipelineFacilitiesNet`	$6.82M	USD	Point-in-time
Pipeline facilities, net	`PipelineFacilitiesNet`	$6.87M	USD	Point-in-time
Methane project, net	`MethaneProjectNet`	$5.10M	USD	Point-in-time
Methane project, net	`MethaneProjectNet`	$5.41M	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$426.00K	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$411.00K	USD	Point-in-time
Deferred tax asset-noncurrent	`DeferredTaxAssetsNetNoncurrent`	$9.60M	USD	Point-in-time
Deferred tax asset-noncurrent	`DeferredTaxAssetsNetNoncurrent`	$10.08M	USD	Point-in-time
Total assets	`Assets`	$46.00M	USD	Point-in-time
Total assets	`Assets`	$49.59M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableCurrent`	$1.20M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableCurrent`	$1.96M	USD	Point-in-time
Accounts payable - other	`AccountsPayableOtherCurrent`	$265.00K	USD	Point-in-time
Accounts payable - other	`AccountsPayableOtherCurrent`	$236.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$598.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$710.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$103.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$99.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.28M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.89M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$1.97M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$1.93M	USD	Point-in-time
Long term debt, less current maturities	`LongTermDebtNoncurrent`	$13.74M	USD	Point-in-time
Long term debt, less current maturities	`LongTermDebtNoncurrent`	$11.69M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.90M	USD	Point-in-time
Total liabilities	`Liabilities`	$18.60M	USD	Point-in-time
Common stock, $.001 par value, authorized 100,000,000 shares, 60,737,413 shares issued and outstanding	`CommonStockValue`	$61.00K	USD	Point-in-time
Common stock, $.001 par value, authorized 100,000,000 shares, 60,737,413 shares issued and outstanding	`CommonStockValue`	$61.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$55.62M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$55.59M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-25.56M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-24.69M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$30.99M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$30.10M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$49.59M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$46.00M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Revenues	`OilAndGasRevenue`	$4.97M	USD	1 Quarter
Revenues	`OilAndGasRevenue`	$3.66M	USD	1 Quarter
Production costs and taxes	`ProductionCostsAndTaxes`	$1.76M	USD	1 Quarter
Production costs and taxes	`ProductionCostsAndTaxes`	$1.52M	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$753.00K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$572.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$522.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$759.00K	USD	1 Quarter
Total cost and expenses	`OperatingCostsAndExpenses`	$3.27M	USD	1 Quarter
Total cost and expenses	`OperatingCostsAndExpenses`	$2.62M	USD	1 Quarter
Net income from operations	`OperatingIncomeLoss`	$1.69M	USD	1 Quarter
Net income from operations	`OperatingIncomeLoss`	$1.04M	USD	1 Quarter
Interest expense	`InterestExpense`	$187.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$145.00K	USD	1 Quarter
Loss on derivatives	`GainLossOnOilAndGasHedgingActivity`	$-121.00K	USD	1 Quarter
Loss on derivatives	`GainLossOnOilAndGasHedgingActivity`	$-366.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$34.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$3.00K	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$-274.00K	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$-508.00K	USD	1 Quarter
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$536.00K	USD	1 Quarter
Income before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.42M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$182.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$545.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$354.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$873.00K	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.01	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.01	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	60.74M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	60.69M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.76M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	61.26M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$354.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$873.00K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$753.00K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$572.00K	USD	1 Quarter
Amortization of loan fees-interest expense	`AmortizationOfFinancingCosts`	$19.00K	USD	1 Quarter
Amortization of loan fees-interest expense	`AmortizationOfFinancingCosts`	$14.00K	USD	1 Quarter
Accretion on asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$26.00K	USD	1 Quarter
Accretion on asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$33.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$34.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$3.00K	USD	1 Quarter
Compensation and services paid in stock options and stock	`ShareBasedCompensation`	$40.00K	USD	1 Quarter
Compensation and services paid in stock options and stock	`ShareBasedCompensation`	$21.00K	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$182.00K	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$478.00K	USD	1 Quarter
Loss on derivatives	`UnrealizedGainLossOnDerivatives`	$-366.00K	USD	1 Quarter
Loss on derivatives	`UnrealizedGainLossOnDerivatives`	$-121.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$515.00K	USD	1 Quarter
Accounts receivable - related party	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$-29.00K	USD	1 Quarter
Accounts receivable - related party	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$-108.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$1.26M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$68.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$69.00K	USD	1 Quarter
Accounts payable-trade	`IncreaseDecreaseInAccountsPayableTrade`	$166.00K	USD	1 Quarter
Accounts payable-trade	`IncreaseDecreaseInAccountsPayableTrade`	$529.00K	USD	1 Quarter
Accounts payable-other	`IncreaseDecreaseInOtherAccountsPayable`	$-29.00K	USD	1 Quarter
Accounts payable-other	`IncreaseDecreaseInOtherAccountsPayable`	$-108.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$52.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-112.00K	USD	1 Quarter
Settlement on asset retirement obligation	`AssetRetirementObligationLiabilitiesSettled`	$-33.00K	USD	1 Quarter
Settlement on asset retirement obligation	`AssetRetirementObligationLiabilitiesSettled`	$-23.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.68M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$812.00K	USD	1 Quarter
Net additions to oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$2.48M	USD	1 Quarter
Net additions to oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$2.24M	USD	1 Quarter
Net additions to methane project	`PaymentsToAcquirePropertyPlantAndEquipment`	$345.00K	USD	1 Quarter
Net additions to other property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$4.00K	USD	1 Quarter
Net additions to other property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$10.00K	USD	1 Quarter
Derivative costs and settlements	`PaymentsForDerivativeInstrumentInvestingActivities`	$279.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.83M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.53M	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfDebt`	$25.00K	USD	1 Quarter
Repayments of borrowings	`RepaymentsOfDebt`	$33.00K	USD	1 Quarter
Proceeds from borrowings	`LineOfCreditFacilityIncreaseAdditionalBorrowings`	$-990.00K	USD	1 Quarter
Proceeds from borrowings	`LineOfCreditFacilityIncreaseAdditionalBorrowings`	$-2.06M	USD	1 Quarter
Loan fees	`PaymentsOfLoanCosts`	$30.00K	USD	1 Quarter
Loan fees	`PaymentsOfLoanCosts`	$60.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$897.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.01M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$42.00K	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$68.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$61.00K	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`	$183.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$68.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$61.00K	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`	$183.00K	USD	Point-in-time
Cash interest payments	`InterestPaid`	$173.00K	USD	1 Quarter
Cash interest payments	`InterestPaid`	$126.00K	USD	1 Quarter
Financed company vehicles	`FinancedCompanyVehicles`	$28.00K	USD	1 Quarter
Asset retirement obligations capitalized	`IncreaseDecreaseInAssetRetirementObligations`	$28.00K	USD	1 Quarter
Asset retirement obligations capitalized	`IncreaseDecreaseInAssetRetirementObligations`	$33.00K	USD	1 Quarter
Accrued capital expenditures included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$918.00K	USD	1 Quarter
Accrued capital expenditures included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$406.00K	USD	1 Quarter

Stockholders Equity 7 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$30.99M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$30.10M	USD	Point-in-time
Net income	`NetIncomeLoss`	$354.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$873.00K	USD	1 Quarter
Options and compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$21.00K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$30.99M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$30.10M	USD	Point-in-time

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