10-Q Filing

CHORD ENERGY CORP CIK: 1486159 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001486159-15-000035`
Period End Date	20150331
Filing Date	20150507
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	oas-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 52 Cash Flow Statement 73 Stockholders Equity 9

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$56.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$45.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.19M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$91.90M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Accounts receivable oil and gas revenues	`AccountsReceivableNetCurrent`	$130.93M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	101.63M	shares	Point-in-time
Accounts receivable oil and gas revenues	`AccountsReceivableNetCurrent`	$112.78M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	139.62M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	285,677.00	shares	Point-in-time
Accounts receivable joint interest partners	`OilAndGasJointInterestBillingReceivablesCurrent`	$175.54M	USD	Point-in-time
Accounts receivable joint interest partners	`OilAndGasJointInterestBillingReceivablesCurrent`	$130.38M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	397,732.00	shares	Point-in-time
Inventory	`InventoryNet`	$21.96M	USD	Point-in-time
Inventory	`InventoryNet`	$21.35M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$16.95M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$14.27M	USD	Point-in-time
Derivative instruments	`DerivativeAssetsCurrent`	$302.16M	USD	Point-in-time
Derivative instruments	`DerivativeAssetsCurrent`	$253.32M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$6.54M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$696.61M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$546.59M	USD	Point-in-time
Oil and gas properties (successful efforts method)	`OilAndGasPropertySuccessfulEffortMethodGross`	$5.97B	USD	Point-in-time
Oil and gas properties (successful efforts method)	`OilAndGasPropertySuccessfulEffortMethodGross`	$6.19B	USD	Point-in-time
Other property and equipment	`PropertyPlantAndEquipmentOther`	$313.44M	USD	Point-in-time
Other property and equipment	`PropertyPlantAndEquipmentOther`	$356.94M	USD	Point-in-time
Less: accumulated depreciation, depletion, amortization and impairment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.22B	USD	Point-in-time
Less: accumulated depreciation, depletion, amortization and impairment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.09B	USD	Point-in-time
Total property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.19B	USD	Point-in-time
Total property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$5.33B	USD	Point-in-time
Derivative instruments	`DerivativeAssetsNoncurrent`	$13.35M	USD	Point-in-time
Derivative instruments	`DerivativeAssetsNoncurrent`	-	USD	Point-in-time
Deferred costs and other assets	`DeferredCostsAndOtherAssets`	$41.67M	USD	Point-in-time
Deferred costs and other assets	`DeferredCostsAndOtherAssets`	$40.99M	USD	Point-in-time
Total assets	`Assets`	$5.94B	USD	Point-in-time
Total assets	`Assets`	$5.92B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$20.96M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.34M	USD	Point-in-time
Revenues and production taxes payable	`RevenuesPayableAndProductionTaxesCurrent`	$210.48M	USD	Point-in-time
Revenues and production taxes payable	`RevenuesPayableAndProductionTaxesCurrent`	$209.89M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$314.21M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$410.38M	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$49.79M	USD	Point-in-time
Accrued interest payable	`InterestPayableCurrent`	$24.68M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$77.75M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$97.50M	USD	Point-in-time
Advances from joint interest partners	`AdvancesFromJointInterestPartnersCurrent`	$6.62M	USD	Point-in-time
Advances from joint interest partners	`AdvancesFromJointInterestPartnersCurrent`	$5.79M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$795.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$642.24M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.70B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.37B	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$526.77M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$539.15M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$42.98M	USD	Point-in-time
Asset retirement obligations	`AssetRetirementObligationsNoncurrent`	$42.10M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.12M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$3.33M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.07B	USD	Point-in-time
Total liabilities	`Liabilities`	$3.59B	USD	Point-in-time
Commitments and contingencies (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.01 par value: 300,000,000 shares authorized; 139,619,087 and 101,627,296 shares issued at March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$1.37M	USD	Point-in-time
Common stock, $0.01 par value: 300,000,000 shares authorized; 139,619,087 and 101,627,296 shares issued at March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$1.00M	USD	Point-in-time
Treasury stock, at cost: 397,732 and 285,677 shares at March 31, 2015 and December 31, 2014, respectively	`TreasuryStockValue`	$10.67M	USD	Point-in-time
Treasury stock, at cost: 397,732 and 285,677 shares at March 31, 2015 and December 31, 2014, respectively	`TreasuryStockValue`	$12.19M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.01B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.48B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$856.73M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$874.77M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.87B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$2.32B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$5.92B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$5.94B	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Oil and gas revenues	`OilAndGasSalesRevenue`	$331.85M	USD	1 Quarter
Oil and gas revenues	`OilAndGasSalesRevenue`	$173.86M	USD	1 Quarter
Well services and midstream revenues	`RevenueOilAndGasServices`	$17.67M	USD	1 Quarter
Well services and midstream revenues	`RevenueOilAndGasServices`	$6.53M	USD	1 Quarter
Total revenues	`OilAndGasRevenue`	$180.39M	USD	1 Quarter
Total revenues	`OilAndGasRevenue`	$349.52M	USD	1 Quarter
Lease operating expenses	`LeaseOperatingExpense`	$39.99M	USD	1 Quarter
Lease operating expenses	`LeaseOperatingExpense`	$39.12M	USD	1 Quarter
Well services and midstream operating expenses	`CostOfServicesOilAndGas`	$10.92M	USD	1 Quarter
Well services and midstream operating expenses	`CostOfServicesOilAndGas`	$1.95M	USD	1 Quarter
Marketing, transportation and gathering expenses	`GasGatheringTransportationMarketingAndProcessingCosts`	$7.28M	USD	1 Quarter
Marketing, transportation and gathering expenses	`GasGatheringTransportationMarketingAndProcessingCosts`	$5.19M	USD	1 Quarter
Production taxes	`ProductionTaxExpense`	$16.62M	USD	1 Quarter
Production taxes	`ProductionTaxExpense`	$31.80M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$91.27M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$118.48M	USD	1 Quarter
Exploration expenses	`ExplorationExpense`	$380.00K	USD	1 Quarter
Exploration expenses	`ExplorationExpense`	$843.00K	USD	1 Quarter
Rig termination	`OilandGasRigTerminationExpense`	-	USD	1 Quarter
Rig termination	`OilandGasRigTerminationExpense`	$1.08M	USD	1 Quarter
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	$762.00K	USD	1 Quarter
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	$5.32M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$23.32M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$23.52M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$203.83M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$214.02M	USD	1 Quarter
Gain on sale of properties	`GainLossOnSaleOfProperty`	-	USD	1 Quarter
Gain on sale of properties	`GainLossOnSaleOfProperty`	$183.39M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-33.63M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$329.08M	USD	1 Quarter
Net gain (loss) on derivative instruments	`DerivativeGainLossOnDerivativeNet`	$-17.60M	USD	1 Quarter
Net gain (loss) on derivative instruments	`DerivativeGainLossOnDerivativeNet`	$47.07M	USD	1 Quarter
Interest expense, net of capitalized interest	`InterestExpense`	$40.16M	USD	1 Quarter
Interest expense, net of capitalized interest	`InterestExpense`	$38.78M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$153.00K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-70.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-57.61M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$8.22M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-25.42M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$271.47M	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$101.52M	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-7.38M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$169.95M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-18.04M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.17	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.71	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.70	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.17	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	99.56M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	109.30M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	109.30M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	100.05M	shares	1 Quarter

Cash Flow Statement 73 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$169.95M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-18.04M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$91.27M	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$118.48M	USD	1 Quarter
Gain on sale of properties	`GainLossOnSaleOfProperties`	-	USD	1 Quarter
Gain on sale of properties	`GainLossOnSaleOfProperties`	$183.39M	USD	1 Quarter
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	$762.00K	USD	1 Quarter
Impairment of oil and gas properties	`ImpairmentOfOilAndGasProperties`	$5.32M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-7.38M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$98.75M	USD	1 Quarter
Derivative instruments	`DerivativeGainLossOnDerivativeNet`	$-17.60M	USD	1 Quarter
Derivative instruments	`DerivativeGainLossOnDerivativeNet`	$47.07M	USD	1 Quarter
Stock-based compensation expenses	`ShareBasedCompensation`	$4.50M	USD	1 Quarter
Stock-based compensation expenses	`ShareBasedCompensation`	$7.61M	USD	1 Quarter
Deferred financing costs amortization and other	`DebtDiscountAmortizationAndOther`	$1.49M	USD	1 Quarter
Deferred financing costs amortization and other	`DebtDiscountAmortizationAndOther`	$1.66M	USD	1 Quarter
Change in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.28M	USD	1 Quarter
Change in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-63.31M	USD	1 Quarter
Change in inventory	`IncreaseDecreaseInInventories`	$-790.00K	USD	1 Quarter
Change in inventory	`IncreaseDecreaseInInventories`	$602.00K	USD	1 Quarter
Change in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-1.89M	USD	1 Quarter
Change in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$14.26M	USD	1 Quarter
Change in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-5.54M	USD	1 Quarter
Change in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$29.00K	USD	1 Quarter
Change in other assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	1 Quarter
Change in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.59M	USD	1 Quarter
Change in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$29.01M	USD	1 Quarter
Change in accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-42.34M	USD	1 Quarter
Change in other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	-	USD	1 Quarter
Change in other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$2.77M	USD	1 Quarter
Change in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-82.00K	USD	1 Quarter
Change in other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-11.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$208.27M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$88.36M	USD	1 Quarter
Capital expenditures	`PaymentsToExploreAndDevelopOilAndGasProperties`	$280.89M	USD	1 Quarter
Capital expenditures	`PaymentsToExploreAndDevelopOilAndGasProperties`	$359.11M	USD	1 Quarter
Proceeds from sale of properties	`ProceedsFromDivestitureOfBusinesses`	-	USD	1 Quarter
Proceeds from sale of properties	`ProceedsFromDivestitureOfBusinesses`	$321.94M	USD	1 Quarter
Costs related to sale of properties	`PaymentsforCostsRelatedtoDivestitureofBusinesses`	$2.01M	USD	1 Quarter
Costs related to sale of properties	`PaymentsforCostsRelatedtoDivestitureofBusinesses`	-	USD	1 Quarter
Derivative settlements	`PaymentsForProceedsFromDerivativeInstrumentInvestingActivities`	$-109.26M	USD	1 Quarter
Derivative settlements	`PaymentsForProceedsFromDerivativeInstrumentInvestingActivities`	$2.24M	USD	1 Quarter
Advances from joint interest partners	`ProceedFromAdvanceFromJointInterestPartners`	$-828.00K	USD	1 Quarter
Advances from joint interest partners	`ProceedFromAdvanceFromJointInterestPartners`	$-1.90M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-250.68M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$34.90M	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$463.22M	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$463.10M	USD	Point-in-time
Proceeds from revolving credit facility	`ProceedsFromLongTermLinesOfCredit`	$145.00M	USD	1 Quarter
Proceeds from revolving credit facility	`ProceedsFromLongTermLinesOfCredit`	-	USD	1 Quarter
Principal payments on revolving credit facility	`RepaymentsOfLongTermLinesOfCredit`	$275.57M	USD	1 Quarter
Principal payments on revolving credit facility	`RepaymentsOfLongTermLinesOfCredit`	$480.00M	USD	1 Quarter
Purchases of treasury stock	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$3.02M	USD	1 Quarter
Purchases of treasury stock	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.52M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-176.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	-	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$126.70M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-278.77M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-35.62M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-35.60M	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$56.30M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$45.81M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.19M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$91.90M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$56.30M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$45.81M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$10.19M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$91.90M	USD	Point-in-time
Change in accrued capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$-90.19M	USD	1 Quarter
Change in accrued capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$39.52M	USD	1 Quarter
Change in asset retirement obligations	`NonCashAssetRetirementObligations`	$-128.00K	USD	1 Quarter
Change in asset retirement obligations	`NonCashAssetRetirementObligations`	$1.41M	USD	1 Quarter

Stockholders Equity 9 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$1.87B	USD	Point-in-time
Balance	`StockholdersEquity`	$2.32B	USD	Point-in-time
Issuance of common stock	`StockIssuedDuringPeriodValueNewIssues`	$463.22M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$8.29M	USD	1 Quarter
Treasury stock tax withholdings	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.52M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$169.95M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-18.04M	USD	1 Quarter
Balance	`StockholdersEquity`	$1.87B	USD	Point-in-time
Balance	`StockholdersEquity`	$2.32B	USD	Point-in-time

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