Viking Energy Group, Inc. (VKIN) Financial Statements (2024 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 investments3,2393,4687,8405,6394,0105,735
Cash and cash equivalents3,2393,4687,8405,6394,0105,735
Restricted cash and investments   3,8633,877  
Receivables5,27711,7814,0512,8642581,122
Inventory, net of allowances, customer advances and progress billings10,2775,490    
Inventory10,2775,490    
Prepaid expense    169124 
Other undisclosed current assets1581,066(3,863)(3,877)  
Total current assets:18,95121,80511,8908,6724,3936,857
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 4,357   
Property, plant and equipment1,7161,487433   
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 1,28614,826102,156119,742131,82539,161
Intangible assets, net (including goodwill)3,2554,126    
Goodwill  252    
Intangible assets, net (excluding goodwill)3,2553,874    
Derivative instruments and hedges    1,403682 
Other undisclosed noncurrent assets20,34823,21414,7921,929310176
Total noncurrent assets:30,96236,345103,868123,074132,81739,337
TOTAL ASSETS:49,91358,151115,758131,745137,21046,194
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3,9058,3254,4765,2924,0492,556
Accounts payable3,9058,3254,4763,7922,5492,556
Accrued liabilities    1,5001,500 
Debt6378,43032,97719,225(11,806)(3,562)
Deferred compensation liability      (12)
Derivative instruments and hedges, liabilities   893   
Customer refund liability      
Due to related parties6294,870  3961,193
Other undisclosed current liabilities20,1198,4458,5329,72726,8659,761
Total current liabilities:25,29030,07046,87934,24419,5049,936
Noncurrent Liabilities
Long-term debt and lease obligation2,1069,200    
Long-term debt, excluding current maturities2,1069,200    
Liabilities, other than long-term debt, including:3,788   92,0779,743
Due to related parties627     
Operating lease, liability3,161   
Other undisclosed liabilities, other than long-term debt     92,0779,743
Other undisclosed noncurrent liabilities3,36385285,18188,8354,4134,007
Total noncurrent liabilities:9,25710,05285,18188,83596,49013,750
Total liabilities:34,54740,123132,060123,079115,99523,686
Equity
Equity, attributable to parent, including:5,18918,028(16,302)8,66721,21522,508
Preferred stock  00000
Common stock115111511249172
Additional paid in capital127,687120,24675,92138,82532,01619,030
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 parent04,609   (12)
Equity, attributable to noncontrolling interest10,177     
Total equity:15,36518,028(16,302)8,66721,21522,508
TOTAL LIABILITIES AND EQUITY:49,91358,151115,758131,745137,21046,194

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
Revenues24,03837,98840,26734,5937,9681,982
Revenue, net1,982
Cost of revenue
(Cost of Goods and Services Sold)
 (3,003)   (2,205)
Other undisclosed gross profit      
Gross profit:24,03834,98540,26734,5937,968(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)93212,989(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 taxes1,1344,775    
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  4,069911(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) 233883
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, basic1,931     
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 interest2,029375    
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(2,179)   233884
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.

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