10-Q Filing

CHORD ENERGY CORP CIK: 1486159 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-206715`
Period End Date	20130331
Filing Date	20130508
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	oas-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 87 Income Statement 46 Cash Flow Statement 59 Stockholders Equity 8

Balance Sheet 87 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$165.99M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$213.45M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$470.87M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$287.30M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$25.89M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	93.43M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$25.89M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	93.73M	shares	Point-in-time
Accounts receivable - oil and gas revenues	`AccountsReceivableNetCurrent`	$110.34M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	93.60M	shares	Point-in-time
Accounts receivable - oil and gas revenues	`AccountsReceivableNetCurrent`	$132.07M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	93.30M	shares	Point-in-time
Accounts receivable - joint interest partners	`OilAndGasJointInterestBillingReceivablesCurrent`	$99.19M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockAtCost`	133,933.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockAtCost`	129,414.00	shares	Point-in-time
Accounts receivable - joint interest partners	`OilAndGasJointInterestBillingReceivablesCurrent`	$80.83M	USD	Point-in-time
Inventory	`InventoryNet`	$20.71M	USD	Point-in-time
Inventory	`InventoryNet`	$25.41M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.42M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.77M	USD	Point-in-time
Advances to joint interest partners	`AdvancesToJointInterestPartnersCurrent`	$2.13M	USD	Point-in-time
Advances to joint interest partners	`AdvancesToJointInterestPartnersCurrent`	$1.99M	USD	Point-in-time
Derivative instruments	`DerivativeAssetsCurrent`	$19.02M	USD	Point-in-time
Derivative instruments	`DerivativeAssetsCurrent`	$5.65M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.13M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$335.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$492.69M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$440.51M	USD	Point-in-time
Oil and gas properties (successful efforts method)	`OilAndGasPropertySuccessfulEffortMethodGross`	$2.35B	USD	Point-in-time
Oil and gas properties (successful efforts method)	`OilAndGasPropertySuccessfulEffortMethodGross`	$2.49B	USD	Point-in-time
Other property and equipment	`PropertyPlantAndEquipmentOther`	$49.73M	USD	Point-in-time
Other property and equipment	`PropertyPlantAndEquipmentOther`	$136.68M	USD	Point-in-time
Less: accumulated depreciation, depletion, amortization and impairment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$446.67M	USD	Point-in-time
Less: accumulated depreciation, depletion, amortization and impairment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$391.26M	USD	Point-in-time
Total property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.01B	USD	Point-in-time
Total property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$2.18B	USD	Point-in-time
Derivative instruments	`DerivativeAssetsNoncurrent`	$5.28M	USD	Point-in-time
Derivative instruments	`DerivativeAssetsNoncurrent`	$4.98M	USD	Point-in-time
Deferred costs and other assets	`DeferredCostsAndOtherAssets`	$24.53M	USD	Point-in-time
Deferred costs and other assets	`DeferredCostsAndOtherAssets`	$23.72M	USD	Point-in-time
Total assets	`Assets`	$2.53B	USD	Point-in-time
Total assets	`Assets`	$2.65B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$23.56M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$12.49M	USD	Point-in-time
Advances from joint interest partners	`AdvancesFromJointInterestPartnersCurrent`	$19.48M	USD	Point-in-time
Advances from joint interest partners	`AdvancesFromJointInterestPartnersCurrent`	$21.18M	USD	Point-in-time
Revenues and production taxes payable	`RevenuesPayableAndProductionTaxesCurrent`	$71.55M	USD	Point-in-time
Revenues and production taxes payable	`RevenuesPayableAndProductionTaxesCurrent`	$90.37M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$189.86M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$197.33M	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$30.10M	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$21.49M	USD	Point-in-time
Derivative instruments	`DerivativeLiabilitiesCurrent`	$1.05M	USD	Point-in-time
Derivative instruments	`DerivativeLiabilitiesCurrent`	$4.66M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$4.56M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$356.89M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$330.79M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.20B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.20B	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$25.03M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$22.96M	USD	Point-in-time
Derivative instruments	`DerivativeLiabilitiesNoncurrent`	$380.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$213.78M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$177.67M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.91M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.80B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.73B	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.01 par value; 300,000,000 shares authorized; 93,730,917 issued and 93,596,984 outstanding at March 31, 2013; 93,432,712 issued and 93,303,298 outstanding at December 31, 2012	`CommonStockValue`	$925.00K	USD	Point-in-time
Common stock, $0.01 par value; 300,000,000 shares authorized; 93,730,917 issued and 93,596,984 outstanding at March 31, 2013; 93,432,712 issued and 93,303,298 outstanding at December 31, 2012	`CommonStockValue`	$925.00K	USD	Point-in-time
Treasury stock, at cost; 133,933 and 129,414 shares at March 31, 2013 and December 31, 2012, respectively	`TreasuryStockCost`	$3.95M	USD	Point-in-time
Treasury stock, at cost; 133,933 and 129,414 shares at March 31, 2013 and December 31, 2012, respectively	`TreasuryStockCost`	$3.80M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$657.94M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$660.35M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$139.93M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$191.78M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$795.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$849.11M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.65B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.53B	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Oil and gas revenues	`OilAndGasSalesRevenue`	$241.65M	USD	1 Quarter
Oil and gas revenues	`OilAndGasSalesRevenue`	$137.91M	USD	1 Quarter
Well services and midstream revenues	`RevenueOilAndGasServices`	$660.00K	USD	1 Quarter
Well services and midstream revenues	`RevenueOilAndGasServices`	$6.65M	USD	1 Quarter
Total revenues	`OilAndGasRevenue`	$138.57M	USD	1 Quarter
Total revenues	`OilAndGasRevenue`	$248.30M	USD	1 Quarter
Lease operating expenses	`LeaseOperatingExpense`	$19.49M	USD	1 Quarter
Lease operating expenses	`LeaseOperatingExpense`	$9.82M	USD	1 Quarter
Well services and midstream operating expenses	`WellServiceExpense`	$477.00K	USD	1 Quarter
Well services and midstream operating expenses	`WellServiceExpense`	$2.91M	USD	1 Quarter
Marketing, transportation and gathering expenses	`GasGatheringTransportationMarketingAndProcessingCosts`	$2.57M	USD	1 Quarter
Marketing, transportation and gathering expenses	`GasGatheringTransportationMarketingAndProcessingCosts`	$3.39M	USD	1 Quarter
Production taxes	`ProductionTaxExpense`	$13.27M	USD	1 Quarter
Production taxes	`ProductionTaxExpense`	$22.09M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$66.26M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$38.89M	USD	1 Quarter
Exploration expenses	`ExplorationExpense`	$1.86M	USD	1 Quarter
Exploration expenses	`ExplorationExpense`	$2.83M	USD	1 Quarter
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	$368.00K	USD	1 Quarter
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	$498.00K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$12.20M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$13.85M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$80.42M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$130.35M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$117.95M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$58.15M	USD	1 Quarter
Net loss on derivative instruments	`DerivativeGainLossOnDerivativeNet`	$-18.59M	USD	1 Quarter
Net loss on derivative instruments	`DerivativeGainLossOnDerivativeNet`	$-14.61M	USD	1 Quarter
Interest expense, net of capitalized interest	`InterestExpense`	$21.18M	USD	1 Quarter
Interest expense, net of capitalized interest	`InterestExpense`	$13.90M	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$780.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$598.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-35.02M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-31.89M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$82.94M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$26.26M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$31.09M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$9.82M	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.44M	USD	1 Quarter
Net income	`NetIncomeLoss`	$51.85M	USD	1 Quarter
Basic and diluted (Note 11)	`EarningsPerShareBasicAndDiluted`	$0.18	USD	1 Quarter
Basic and diluted (Note 11)	`EarningsPerShareBasicAndDiluted`	$0.56	USD	1 Quarter
Basic (Note 11)	`WeightedAverageNumberOfSharesOutstandingBasic`	92.38M	shares	1 Quarter
Basic (Note 11)	`WeightedAverageNumberOfSharesOutstandingBasic`	92.13M	shares	1 Quarter
Diluted (Note 11)	`WeightedAverageNumberOfDilutedSharesOutstanding`	92.65M	shares	1 Quarter
Diluted (Note 11)	`WeightedAverageNumberOfDilutedSharesOutstanding`	92.23M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$16.44M	USD	1 Quarter
Net income	`NetIncomeLoss`	$51.85M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$66.26M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$38.89M	USD	1 Quarter
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	$368.00K	USD	1 Quarter
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	$498.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$9.82M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$30.99M	USD	1 Quarter
Derivative instruments	`DerivativeGainLossOnDerivativeNet`	$-18.59M	USD	1 Quarter
Derivative instruments	`DerivativeGainLossOnDerivativeNet`	$-14.61M	USD	1 Quarter
Stock-based compensation expenses	`ShareBasedCompensation`	$2.29M	USD	1 Quarter
Stock-based compensation expenses	`ShareBasedCompensation`	$1.59M	USD	1 Quarter
Debt discount amortization and other	`DebtDiscountAmortizationAndOther`	$746.00K	USD	1 Quarter
Debt discount amortization and other	`DebtDiscountAmortizationAndOther`	$648.00K	USD	1 Quarter
Change in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.36M	USD	1 Quarter
Change in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$26.04M	USD	1 Quarter
Change in inventory	`IncreaseDecreaseInInventories`	$8.41M	USD	1 Quarter
Change in inventory	`IncreaseDecreaseInInventories`	$9.64M	USD	1 Quarter
Change in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-31.00K	USD	1 Quarter
Change in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-293.00K	USD	1 Quarter
Change in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-483.00K	USD	1 Quarter
Change in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$232.00K	USD	1 Quarter
Change in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$10.78M	USD	1 Quarter
Change in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$15.01M	USD	1 Quarter
Change in other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-188.00K	USD	1 Quarter
Change in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$170.55M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$62.77M	USD	1 Quarter
Capital expenditures	`PaymentsToExploreAndDevelopOilAndGasProperties`	$217.68M	USD	1 Quarter
Capital expenditures	`PaymentsToExploreAndDevelopOilAndGasProperties`	$269.98M	USD	1 Quarter
Derivative settlements	`PaymentsForProceedsFromDerivativeInstrumentInvestingActivities`	$1.29M	USD	1 Quarter
Derivative settlements	`PaymentsForProceedsFromDerivativeInstrumentInvestingActivities`	$-1.69M	USD	1 Quarter
Redemptions of short-term investments	`ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments`	$19.99M	USD	1 Quarter
Advances to joint interest partners	`PaymentsForAdvancesToJointInterestPartners`	$-655.00K	USD	1 Quarter
Advances to joint interest partners	`PaymentsForAdvancesToJointInterestPartners`	$141.00K	USD	1 Quarter
Advances from joint interest partners	`ProceedFromAdvanceFromJointInterestPartners`	$5.48M	USD	1 Quarter
Advances from joint interest partners	`ProceedFromAdvanceFromJointInterestPartners`	$-1.69M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-217.82M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-245.13M	USD	1 Quarter
Purchases of treasury stock	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$156.00K	USD	1 Quarter
Purchases of treasury stock	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.18M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$25.00K	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$25.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-181.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.21M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-47.46M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-183.57M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$165.99M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$213.45M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$470.87M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$287.30M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$165.99M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$213.45M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$470.87M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$287.30M	USD	Point-in-time
Change in accrued capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$13.73M	USD	1 Quarter
Change in accrued capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$22.34M	USD	1 Quarter
Change in asset retirement obligations	`NonCashAssetRetirementObligations`	$2.05M	USD	1 Quarter
Change in asset retirement obligations	`NonCashAssetRetirementObligations`	$2.87M	USD	1 Quarter

Stockholders Equity 8 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$795.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$849.11M	USD	Point-in-time
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.41M	USD	1 Quarter
Treasury stock - tax withholdings	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$156.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.44M	USD	1 Quarter
Net income	`NetIncomeLoss`	$51.85M	USD	1 Quarter
Balance	`StockholdersEquity`	$795.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$849.11M	USD	Point-in-time

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