Erin Energy Corp (ERINQ) Financial Statements (2024 and earlier)

Company Profile

Business Address 1330 POST OAK BLVD
HOUSTON, TX 77056
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 1381 - Drilling Oil and Gas Wells (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments7,1778,36325,1431633,806
Cash and cash equivalents7,1778,36325,1431633,806
Restricted cash and investments2,6008,6611,496  
Receivables2,6301,4731,1201,1126,103
Inventory, net of allowances, customer advances and progress billings9,3984,7891,089
Inventory9,3984,7891,089  
Prepaid expense and other current assets1,013
Other undisclosed current assets9013,3022,983857 
Total current assets:22,70626,58831,8312,13210,922
Noncurrent Assets
Property, plant and equipment266,429349,505596,329185,160189,086
Oil and gas, successful efforts method, property and equipment, after accumulated depreciation, depletion, amortization, and impairment   595,269184,408188,630
Regulated entity, other noncurrent assets   1,900  
Restricted cash and investments   8,909  
Deferred costs   1,307  
Other noncurrent assets   6751
Prepaid expense and other noncurrent assets11
Assets of disposal group, including discontinued operation 36
Other undisclosed noncurrent assets6667(597,169)(184,408)(188,630)
Total noncurrent assets:266,495349,572606,612185,211189,133
TOTAL ASSETS:289,201376,160638,443187,343200,055
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:244,963213,120108,04713,68518,279
Interest and dividends payable3,0742,510   
Employee-related liabilities1,204629  397
Accounts payable173,306153,085 6,23915,112
Accrued liabilities 8063,777 7,4462,770
Other undisclosed accounts payable and accrued liabilities66,57353,119108,047  
Debt12,62798,1196,200  
Derivative instruments and hedges, liabilities     
Asset retirement obligation   12,703  
Due to related parties29,51330,1339,391  
Other undisclosed current liabilities   6,496(397)
Total current liabilities:287,103341,372136,34120,18117,882
Noncurrent Liabilities
Long-term debt and lease obligation74,446 154,200  
Long-term debt, excluding current maturities74,446 154,200  
Liabilities, other than long-term debt152,272140,61575,09767 
Asset retirement obligations22,47620,60913,830  
Due to related parties129,796120,00661,185  
Other liabilities   8267 
Other undisclosed noncurrent liabilities   (61,200) 927
Total noncurrent liabilities:226,718140,615168,09767927
Total liabilities:513,821481,987304,43820,24818,809
Equity
Equity, attributable to parent, including:(225,335)(106,624)333,351167,095181,252
Common stock2132121,262382156
Treasury stock, value(228)    
Additional paid in capital792,972789,615777,043464,590462,801
Accumulated other comprehensive income    224224
Accumulated deficit(1,018,292)(896,451)(444,954)(297,877)(281,929)
Other undisclosed equity, attributable to parent    (224) 
Equity, attributable to noncontrolling interest715797654  
Other undisclosed equity     (6)
Total equity:(224,620)(105,827)334,005167,095181,246
TOTAL LIABILITIES AND EQUITY:289,201376,160638,443187,343200,055

Income Statement (P&L) ($ in thousands)

12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
Revenues
(Revenue, Net)
77,81568,42953,8447,87316,624
Cost of revenue(159,254)(189,381)(116,398) (326)
Cost of goods and services sold(102,467)(91,051)(94,808) (326)
Gross profit:(81,439)(120,952)(62,554)7,87316,298
Operating expenses(55,553)(316,041)(30,771)(24,489)(25,124)
Other operating income, net
(Other Expenses)
     582
Other undisclosed operating income (loss)   666(442)
Operating loss:(136,992)(436,993)(93,325)(15,950)(8,686)
Nonoperating income (expense)(6,250)(15,466)(2,983)38 
Gain, foreign currency transaction, before tax15,6742,5201,758  
Other nonoperating income (expense)   (358)38 
Interest and debt expense(21,924)(17,986)(4,383)(99)(122)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes21,92417,9864,38399(460)
Loss from continuing operations:(143,242)(452,459)(96,308)(15,912)(9,268)
Loss before gain (loss) on sale of properties:(143,242)(452,459)(96,308)(15,948)(6,099)
Income (loss) from discontinued operations    (36)3,169
Net loss:(143,242)(452,459)(96,308)(15,948)(6,099)
Net income attributable to noncontrolling interest841962246 8
Net loss available to common stockholders, diluted:(142,401)(451,497)(96,062)(15,948)(6,091)

Comprehensive Income ($ in thousands)

12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
12/31/2012
Net loss:(143,242)(452,459)(96,308)(15,948)(6,099)
Other comprehensive loss    (224) 
Other undisclosed comprehensive income     489
Comprehensive loss:(143,242)(452,459)(96,308)(16,172)(5,610)
Comprehensive income, net of tax, attributable to noncontrolling interest841962246 8
Comprehensive loss, net of tax, attributable to parent:(142,401)(451,497)(96,062)(16,172)(5,602)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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