Viking Energy Group, Inc. (VKIN) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
15915 KATY FREEWAY HOUSTON, TX 77094 |
| State of Incorp. | NV |
| Fiscal Year End | December 31 |
| Industry (SIC) | 1311 - Crude Petroleum and Natural Gas (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 3/31/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 3,239 | 3,468 | 7,840 | 5,639 | 4,010 | 5,735 | |||
| Cash and cash equivalent | 3,239 | 3,468 | 7,840 | 5,639 | 4,010 | 5,735 | |||
| Restricted cash and investments | 3,863 | 3,877 | |||||||
| Receivables | 5,277 | 11,781 | 4,051 | 2,864 | 258 | 1,122 | |||
| Inventory, net of allowances, customer advances and progress billings | 10,277 | 5,490 | |||||||
| Inventory | 10,277 | 5,490 | |||||||
| Prepaid expense | 169 | 124 | |||||||
| Other undisclosed current assets | 158 | 1,066 | (3,863) | (3,877) | |||||
| Total current assets: | 18,951 | 21,805 | 11,890 | 8,672 | 4,393 | 6,857 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 4,357 | ✕ | ✕ | ||||||
| Property, plant and equipment | 1,716 | 1,487 | 433 | ||||||
| Oil and gas, successful efforts method, property and equipment, after accumulated depreciation, depletion, amortization, and impairment | (7,307) | (13,514) | |||||||
| Oil and gas, full cost method, property and equipment, after accumulated depletion | 1,286 | 14,826 | 102,156 | 119,742 | 131,825 | 39,161 | |||
| Intangible assets, net (including goodwill) | 3,255 | 4,126 | |||||||
| Goodwill | 252 | ||||||||
| Intangible assets, net (excluding goodwill) | 3,255 | 3,874 | |||||||
| Derivative instruments and hedges | 1,403 | 682 | |||||||
| Other undisclosed noncurrent assets | 20,348 | 23,214 | 14,792 | 1,929 | 310 | 176 | |||
| Total noncurrent assets: | 30,962 | 36,345 | 103,868 | 123,074 | 132,817 | 39,337 | |||
| TOTAL ASSETS: | 49,913 | 58,151 | 115,758 | 131,745 | 137,210 | 46,194 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 3,905 | 8,325 | 4,476 | 5,292 | 4,049 | 2,556 | |||
| Accounts payable | 3,905 | 8,325 | 4,476 | 3,792 | 2,549 | 2,556 | |||
| Accrued liabilities | 1,500 | 1,500 | |||||||
| Debt | 637 | 8,430 | 32,977 | 19,225 | (11,806) | (3,562) | |||
| Deferred compensation liability | (12) | ||||||||
| Derivative instruments and hedges, liabilities | 893 | ||||||||
| Customer refund liability | |||||||||
| Due to related parties | 629 | 4,870 | 396 | 1,193 | |||||
| Other undisclosed current liabilities | 20,119 | 8,445 | 8,532 | 9,727 | 26,865 | 9,761 | |||
| Total current liabilities: | 25,290 | 30,070 | 46,879 | 34,244 | 19,504 | 9,936 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 2,106 | 9,200 | |||||||
| Long-term debt, excluding current maturities | 2,106 | 9,200 | |||||||
| Liabilities, other than long-term debt, including: | 3,788 | 92,077 | 9,743 | ||||||
| Due to related parties | 627 | ||||||||
| Operating lease, liability | 3,161 | ✕ | ✕ | ||||||
| Other undisclosed liabilities, other than long-term debt | 92,077 | 9,743 | |||||||
| Other undisclosed noncurrent liabilities | 3,363 | 852 | 85,181 | 88,835 | 4,413 | 4,007 | |||
| Total noncurrent liabilities: | 9,257 | 10,052 | 85,181 | 88,835 | 96,490 | 13,750 | |||
| Total liabilities: | 34,547 | 40,123 | 132,060 | 123,079 | 115,995 | 23,686 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 5,189 | 18,028 | (16,302) | 8,667 | 21,215 | 22,508 | |||
| Preferred stock | 0 | 0 | 0 | 0 | 0 | ||||
| Common stock | 115 | 111 | 51 | 124 | 91 | 72 | |||
| Additional paid in capital | 127,687 | 120,246 | 75,921 | 38,825 | 32,016 | 19,030 | |||
| Accumulated other comprehensive loss | (426) | (178) | |||||||
| Retained earnings (accumulated deficit) | (122,188) | (106,760) | (92,274) | (30,283) | (10,892) | 3,418 | |||
| Other undisclosed equity, attributable to parent | 0 | 4,609 | (12) | ||||||
| Equity, attributable to noncontrolling interest | 10,177 | ||||||||
| Total equity: | 15,365 | 18,028 | (16,302) | 8,667 | 21,215 | 22,508 | |||
| TOTAL LIABILITIES AND EQUITY: | 49,913 | 58,151 | 115,758 | 131,745 | 137,210 | 46,194 | |||
Income Statement (P&L) ($ in thousands)
| 3/31/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 24,038 | 37,988 | 40,267 | 34,593 | 7,968 | 1,982 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 1,982 | |
| Cost of revenue (Cost of Product and Service Sold) | (3,003) | (2,205) | ||||||
| Other undisclosed gross profit | ||||||||
| Gross profit: | 24,038 | 34,985 | 40,267 | 34,593 | 7,968 | (223) | ||
| Operating expenses | (33,712) | (36,657) | (81,792) | (29,716) | (15,135) | (8,703) | ||
| Other undisclosed operating income (loss) | 3,003 | |||||||
| Operating income (loss): | (9,674) | 1,331 | (41,525) | 4,877 | (7,167) | (8,926) | ||
| Nonoperating income (expense) | (7,684) | (16,122) | (22,463) | (24,267) | (8,861) | 27,014 | ||
| Investment income, nonoperating | (19,457) | 27,014 | ||||||
| Other nonoperating income (expense) | (7,684) | |||||||
| Interest and debt expense | (1,134) | (4,775) | 932 | 12,989 | (233) | (233) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | (18,492) | (19,565) | (63,056) | (6,402) | (16,261) | 17,856 | ||
| Other undisclosed income from continuing operations before income taxes | 1,134 | 4,775 | ||||||
| Income (loss) from continuing operations before income taxes: | (17,358) | (14,791) | (63,056) | (6,402) | (16,261) | 17,856 | ||
| Income tax expense (benefit) | 1,606 | 4,069 | 911 | (911) | ||||
| Other undisclosed income from continuing operations | ||||||||
| Income (loss) from continuing operations: | (15,752) | (14,791) | (63,056) | (2,333) | (15,350) | 16,945 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | (14,791) | (63,056) | (2,333) | (15,350) | 16,945 | ||
| Other undisclosed net income (loss) | 325 | (17,058) | ||||||
| Net income (loss): | (15,427) | (14,791) | (63,056) | (19,391) | (15,350) | 16,945 | ||
| Net loss attributable to noncontrolling interest | (1,931) | |||||||
| Other undisclosed net income (loss) attributable to parent | (932) | 233 | 883 | |||||
| Net income (loss) attributable to parent: | (17,358) | (14,791) | (63,988) | (19,391) | (15,118) | 17,828 | ||
| Other undisclosed net income available to common stockholders, basic | 1,931 | |||||||
| Net income (loss) available to common stockholders, diluted: | (15,427) | (14,791) | (63,988) | (19,391) | (15,118) | 17,828 | ||
Comprehensive Income ($ in thousands)
| 3/31/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (15,427) | (14,791) | (63,056) | (19,391) | (15,350) | 16,945 | ||
| Other undisclosed comprehensive loss | (178) | |||||||
| Comprehensive income (loss): | (15,427) | (14,969) | (63,056) | (19,391) | (15,350) | 16,945 | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 2,029 | 375 | ||||||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (2,179) | 233 | 884 | |||||
| Comprehensive income (loss), net of tax, attributable to parent: | (15,577) | (14,594) | (63,056) | (19,391) | (15,118) | 17,829 | ||
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.