10-Q Filing

Riley Exploration Permian, Inc. CIK: 1001614 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001140361-15-031804`
Period End Date	20150630
Filing Date	20150814
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	tgc-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 60 Cash Flow Statement 59 Stockholders Equity 13

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$35.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$55.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$33.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$54.00K	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $14	`AccountsReceivableNetCurrent`	$877.00K	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $14	`AccountsReceivableNetCurrent`	$794.00K	USD	Point-in-time
Accounts receivable - related party, less allowance for doubtful accounts of $159	`DueFromRelatedPartiesCurrent`	-	USD	Point-in-time
Accounts receivable - related party, less allowance for doubtful accounts of $159	`DueFromRelatedPartiesCurrent`	-	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$14.00K	USD	Point-in-time
Inventory	`InventoryNet`	$804.00K	USD	Point-in-time
Inventory	`InventoryNet`	$782.00K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$14.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred tax asset-current	`DeferredTaxAssetsNetCurrent`	$68.00K	USD	Point-in-time
Deferred tax asset-current	`DeferredTaxAssetsNetCurrent`	$68.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$276.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$311.00K	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
Total current assets	`AssetsCurrent`	$2.10M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	60.84M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	60.84M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.98M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$386.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	60.84M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	60.84M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$386.00K	USD	Point-in-time
Loan fees, net	`DeferredFinanceCostsNoncurrentNet`	$18.00K	USD	Point-in-time
Loan fees, net	`DeferredFinanceCostsNoncurrentNet`	$12.00K	USD	Point-in-time
Oil and gas properties, net (full cost accounting method)	`OilAndGasPropertyFullCostMethodNet`	$24.32M	USD	Point-in-time
Oil and gas properties, net (full cost accounting method)	`OilAndGasPropertyFullCostMethodNet`	$25.41M	USD	Point-in-time
Manufactured Methane facilities, net	`MethaneProjectNet`	$1.60M	USD	Point-in-time
Manufactured Methane facilities, net	`MethaneProjectNet`	$1.63M	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$151.00K	USD	Point-in-time
Other property and equipment, net	`PropertyPlantAndEquipmentOtherNet`	$200.00K	USD	Point-in-time
Deferred tax asset - noncurrent	`DeferredTaxAssetsNetNoncurrent`	$7.28M	USD	Point-in-time
Deferred tax asset - noncurrent	`DeferredTaxAssetsNetNoncurrent`	$7.66M	USD	Point-in-time
Total assets	`Assets`	$37.03M	USD	Point-in-time
Total assets	`Assets`	$36.11M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableCurrent`	$455.00K	USD	Point-in-time
Accounts payable - trade	`AccountsPayableCurrent`	$136.00K	USD	Point-in-time
Accounts payable - other	`AccountsPayableOtherCurrent`	$159.00K	USD	Point-in-time
Accounts payable - other	`AccountsPayableOtherCurrent`	$159.00K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$590.00K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$619.00K	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$630.00K	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$759.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$65.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$55.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.03M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.60M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$2.06M	USD	Point-in-time
Asset retirement obligation	`AssetRetirementObligationsNoncurrent`	$2.01M	USD	Point-in-time
Long term debt, less current maturities	`LongTermDebtNoncurrent`	$824.00K	USD	Point-in-time
Long term debt, less current maturities	`LongTermDebtNoncurrent`	$868.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$4.86M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.53M	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $.001 par value, authorized 100,000,000 shares, 60,842,413 shares issued and outstanding	`CommonStockValue`	$61.00K	USD	Point-in-time
Common stock, $.001 par value, authorized 100,000,000 shares, 60,842,413 shares issued and outstanding	`CommonStockValue`	$61.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$55.71M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$55.70M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-24.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-23.59M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$32.17M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$31.58M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$37.03M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$36.11M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Revenues	`OilAndGasRevenue`	$3.98M	USD	1 Quarter
Revenues	`OilAndGasRevenue`	$7.49M	USD	2 Qtrs
Revenues	`OilAndGasRevenue`	$1.90M	USD	1 Quarter
Revenues	`OilAndGasRevenue`	$3.53M	USD	2 Qtrs
Production costs and taxes	`ProductionCostsAndTaxes`	$3.31M	USD	2 Qtrs
Production costs and taxes	`ProductionCostsAndTaxes`	$892.00K	USD	1 Quarter
Production costs and taxes	`ProductionCostsAndTaxes`	$2.09M	USD	2 Qtrs
Production costs and taxes	`ProductionCostsAndTaxes`	$1.91M	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$1.43M	USD	2 Qtrs
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$702.00K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$755.00K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$1.46M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$972.00K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$675.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$418.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.37M	USD	2 Qtrs
Total cost and expenses	`OperatingCostsAndExpenses`	$3.34M	USD	1 Quarter
Total cost and expenses	`OperatingCostsAndExpenses`	$4.50M	USD	2 Qtrs
Total cost and expenses	`OperatingCostsAndExpenses`	$6.13M	USD	2 Qtrs
Total cost and expenses	`OperatingCostsAndExpenses`	$2.01M	USD	1 Quarter
Net income (loss) from operations	`OperatingIncomeLoss`	$649.00K	USD	1 Quarter
Net income (loss) from operations	`OperatingIncomeLoss`	$-113.00K	USD	1 Quarter
Net income (loss) from operations	`OperatingIncomeLoss`	$1.36M	USD	2 Qtrs
Net income (loss) from operations	`OperatingIncomeLoss`	$-967.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$12.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$24.00K	USD	2 Qtrs
Interest expense	`InterestExpense`	$29.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$59.00K	USD	2 Qtrs
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$20.00K	USD	2 Qtrs
Gain on sale of assets	`GainLossOnDispositionOfAssets`	$18.00K	USD	2 Qtrs
Total other income (expenses)	`NonoperatingIncomeExpense`	$-12.00K	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$-29.00K	USD	1 Quarter
Total other income (expenses)	`NonoperatingIncomeExpense`	$-4.00K	USD	2 Qtrs
Total other income (expenses)	`NonoperatingIncomeExpense`	$-41.00K	USD	2 Qtrs
Income (loss) from operations before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$620.00K	USD	1 Quarter
Income (loss) from operations before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-971.00K	USD	2 Qtrs
Income (loss) from operations before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-125.00K	USD	1 Quarter
Income (loss) from operations before income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.32M	USD	2 Qtrs
Deferred Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$515.00K	USD	2 Qtrs
Deferred Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-49.00K	USD	1 Quarter
Deferred Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$243.00K	USD	1 Quarter
Deferred Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-380.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-76.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$377.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$802.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-591.00K	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.01	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.01	USD	2 Qtrs
Fully Diluted	`EarningsPerShareDiluted`	$0.01	USD	2 Qtrs
Fully Diluted	`EarningsPerShareDiluted`	$-0.01	USD	2 Qtrs
Fully Diluted	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	60.84M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	60.84M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	60.84M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	60.84M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.84M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.86M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.85M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.84M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income (loss) from operations	`NetIncomeLoss`	$-76.00K	USD	1 Quarter
Net income (loss) from operations	`NetIncomeLoss`	$377.00K	USD	1 Quarter
Net income (loss) from operations	`NetIncomeLoss`	$802.00K	USD	2 Qtrs
Net income (loss) from operations	`NetIncomeLoss`	$-591.00K	USD	2 Qtrs
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$1.43M	USD	2 Qtrs
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$702.00K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$755.00K	USD	1 Quarter
Depreciation, depletion, and amortization	`DepreciationDepletionAndAmortization`	$1.46M	USD	2 Qtrs
Amortization of loan fees-interest expense	`AmortizationOfFinancingCosts`	$9.00K	USD	2 Qtrs
Amortization of loan fees-interest expense	`AmortizationOfFinancingCosts`	$6.00K	USD	2 Qtrs
Accretion on asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$63.00K	USD	2 Qtrs
Accretion on asset retirement obligation	`AssetRetirementObligationAccretionExpense`	$57.00K	USD	2 Qtrs
Gain on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$18.00K	USD	2 Qtrs
Gain on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$20.00K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$6.00K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$18.00K	USD	2 Qtrs
Deferred tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-380.00K	USD	2 Qtrs
Deferred tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$515.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$227.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-83.00K	USD	2 Qtrs
Inventory and other assets	`IncreaseDecreaseInInventories`	$-57.00K	USD	2 Qtrs
Inventory and other assets	`IncreaseDecreaseInInventories`	$-248.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-88.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$306.00K	USD	2 Qtrs
Accrued and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$366.00K	USD	2 Qtrs
Accrued and other current liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-124.00K	USD	2 Qtrs
Settlement on asset retirement obligation	`IncreaseDecreaseInAssetRetirementObligations`	$-10.00K	USD	2 Qtrs
Settlement on asset retirement obligation	`IncreaseDecreaseInAssetRetirementObligations`	$-86.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$436.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$3.45M	USD	2 Qtrs
Additions to oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$475.00K	USD	2 Qtrs
Additions to oil and gas properties	`PaymentsToExploreAndDevelopOilAndGasProperties`	$1.78M	USD	2 Qtrs
Additions to methane project	`PaymentsToAcquirePropertyPlantAndEquipment`	$274.00K	USD	2 Qtrs
Additions to other property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$11.00K	USD	2 Qtrs
Proceeds from sale of other property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$31.00K	USD	2 Qtrs
Proceeds from sale of other property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$17.00K	USD	2 Qtrs
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.05M	USD	2 Qtrs
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-444.00K	USD	2 Qtrs
Repayments of borrowings	`RepaymentsOfDebt`	$2.42M	USD	2 Qtrs
Repayments of borrowings	`RepaymentsOfDebt`	$5.48M	USD	2 Qtrs
Proceeds from borrowings	`ProceedsFromLinesOfCredit`	$4.06M	USD	2 Qtrs
Proceeds from borrowings	`ProceedsFromLinesOfCredit`	$2.45M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$28.00K	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.42M	USD	2 Qtrs
Net change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$20.00K	USD	2 Qtrs
Net change in cash and cash equivalents	`NetCashProvidedByUsedInContinuingOperations`	$-21.00K	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$35.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$55.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$33.00K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$54.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$35.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$55.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$33.00K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$54.00K	USD	Point-in-time
Cash interest payments	`InterestPaid`	$50.00K	USD	2 Qtrs
Cash interest payments	`InterestPaid`	$18.00K	USD	2 Qtrs
Financed company vehicles	`FinancedCompanyVehicles`	$28.00K	USD	2 Qtrs
Asset retirement obligations incurred	`SettlementOfAssetRetirementObligationsThroughNoncashPaymentsAmount`	$26.00K	USD	2 Qtrs
Capital expenditures included in accounts payable and accrued liabilities	`CapitalExpendituresIncurredButNotYetPaid`	$16.00K	USD	2 Qtrs

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance, value	`StockholdersEquity`	$32.17M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$31.58M	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	60.84M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	60.84M	shares	Point-in-time
Net loss	`NetIncomeLoss`	$-76.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$377.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$802.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-591.00K	USD	2 Qtrs
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$6.00K	USD	2 Qtrs
Balance, shares	`CommonStockSharesOutstanding`	60.84M	shares	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	60.84M	shares	Point-in-time
Balance, value	`StockholdersEquity`	$32.17M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$31.58M	USD	Point-in-time

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