Erin Energy Corp (ERINQ) financial statements (2023 and earlier)
Company profile
| Business Address |
1330 POST OAK BLVD HOUSTON, TX 77056 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| SIC | 1381 - Drilling Oil and Gas Wells (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in millions)
| 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 investments | 22 | 7 | 8 | 25 | 0 | 4 | ||
| Cash and cash equivalents | 22 | 7 | 8 | 25 | 0 | 4 | ||
| Restricted cash and investments | 12 | 3 | 9 | 1 | ||||
| Receivables | 5 | 3 | 1 | 1 | 1 | 6 | ||
| Inventory, net of allowances, customer advances and progress billings | 4 | 9 | 5 | 1 | ✕ | ✕ | ||
| Inventory | 4 | 9 | 5 | 1 | ||||
| Prepaid expense and other current assets | ✕ | ✕ | ✕ | ✕ | ✕ | 1 | ||
| Other undisclosed current assets | 9 | 1 | 3 | 3 | 1 | |||
| Total current assets: | 51 | 23 | 27 | 32 | 2 | 11 | ||
| Noncurrent Assets | ||||||||
| Property, plant and equipment | 200 | 266 | 350 | 596 | 185 | 189 | ||
| Oil and gas property, successful effort method | 595 | 184 | 189 | |||||
| Regulated entity, other noncurrent assets | 2 | |||||||
| Restricted cash and investments | 9 | |||||||
| Deferred costs | 1 | |||||||
| Other noncurrent assets | 0 | 0 | ✕ | |||||
| Prepaid expense and other noncurrent assets | ✕ | ✕ | ✕ | ✕ | ✕ | 0 | ||
| Assets of disposal group, including discontinued operation | ✕ | ✕ | ✕ | ✕ | 0 | |||
| Other undisclosed noncurrent assets | 0 | 0 | 0 | (597) | (184) | (189) | ||
| Total noncurrent assets: | 200 | 266 | 350 | 607 | 185 | 189 | ||
| TOTAL ASSETS: | 251 | 289 | 376 | 638 | 187 | 200 | ||
| LIABILITIES AND EQUITY | ||||||||
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts payable and accrued liabilities, including: | 277 | 245 | 213 | 108 | 14 | 18 | ||
| Accounts payable | 190 | 173 | 153 | 6 | 15 | |||
| Accrued liabilities | 1 | 4 | 7 | 3 | ||||
| Employee-related liabilities | 1 | 1 | 1 | 0 | ||||
| Interest and dividends payable | 3 | 3 | 3 | |||||
| Other undisclosed accounts payable and accrued liabilities | 84 | 67 | 53 | 108 | ||||
| Debt | 78 | 13 | 98 | 6 | ||||
| Derivative instruments and hedges, liabilities | 2 | |||||||
| Asset retirement obligation | 13 | |||||||
| Due to related parties | 40 | 30 | 30 | 9 | ||||
| Other undisclosed current liabilities | 0 | 6 | (0) | |||||
| Total current liabilities: | 398 | 287 | 341 | 136 | 20 | 18 | ||
| Noncurrent Liabilities | ||||||||
| Long-term debt and lease obligation | 61 | 74 | 154 | |||||
| Long-term debt, excluding current maturities | 61 | 74 | 154 | |||||
| Liabilities, other than long-term debt | 154 | 152 | 141 | 75 | 0 | |||
| Asset retirement obligations | 24 | 22 | 21 | 14 | ||||
| Due to related parties | 130 | 130 | 120 | 61 | ||||
| Other liabilities | 0 | 0 | ||||||
| Other undisclosed noncurrent liabilities | (61) | 1 | ||||||
| Total noncurrent liabilities: | 216 | 227 | 141 | 168 | 0 | 1 | ||
| Total liabilities: | 614 | 514 | 482 | 304 | 20 | 19 | ||
| Stockholders' equity | ||||||||
| Stockholders' equity attributable to parent, including: | (363) | (225) | (107) | 333 | 167 | 181 | ||
| Common stock | 0 | 0 | 0 | 1 | 0 | 0 | ||
| Treasury stock, value | (1) | (0) | ||||||
| Additional paid in capital | 807 | 793 | 790 | 777 | 465 | 463 | ||
| Accumulated other comprehensive income | 0 | 0 | ||||||
| Accumulated deficit | (1,170) | (1,018) | (896) | (445) | (298) | (282) | ||
| Other undisclosed stockholders' equity attributable to parent | (0) | |||||||
| Stockholders' equity attributable to noncontrolling interest | 1 | 1 | 1 | 1 | ||||
| Other undisclosed stockholders' equity | (0) | |||||||
| Total stockholders' equity: | (363) | (225) | (106) | 334 | 167 | 181 | ||
| TOTAL LIABILITIES AND EQUITY: | 251 | 289 | 376 | 638 | 187 | 200 | ||
Income statement (P&L) ($ in millions)
| 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | 12/31/2012 | ||
|---|---|---|---|---|---|---|---|
| Revenues (Revenue, Net) | 101 | 78 | 68 | 54 | 8 | 17 | |
| Cost of revenue | (137) | (159) | (189) | (116) | (0) | ||
| Cost of goods and services sold | (80) | (102) | (91) | (95) | (0) | ||
| Gross profit: | (36) | (81) | (121) | (63) | 8 | 16 | |
| Operating expenses | (96) | (56) | (316) | (31) | (24) | (25) | |
| Other operating income, net (Other Expenses) | 1 | ||||||
| Other undisclosed operating income (loss) | 2 | 1 | (0) | ||||
| Operating loss: | (131) | (137) | (437) | (93) | (16) | (9) | |
| Nonoperating income (expense) | (22) | (6) | (15) | (3) | 0 | ||
| Foreign currency transaction gain, before tax | 5 | 16 | 3 | 2 | |||
| Other nonoperating income (expense) | (0) | 0 | |||||
| Interest and debt expense | (28) | (22) | (18) | (4) | (0) | (0) | |
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | 28 | 22 | 18 | 4 | 0 | (0) | |
| Loss from continuing operations: | (153) | (143) | (452) | (96) | (16) | (9) | |
| Income (loss) from discontinued operations | (0) | 3 | |||||
| Net loss: | (153) | (143) | (452) | (96) | (16) | (6) | |
| Net income attributable to noncontrolling interest | 1 | 1 | 1 | 0 | 0 | ||
| Net loss available to common stockholders, diluted: | (152) | (142) | (451) | (96) | (16) | (6) | |
Comprehensive Income ($ in millions)
| 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | 12/31/2012 | ||
|---|---|---|---|---|---|---|---|
| Net loss: | (153) | (143) | (452) | (96) | (16) | (6) | |
| Other comprehensive loss | (0) | ||||||
| Other undisclosed comprehensive income | 0 | ||||||
| Comprehensive loss: | (153) | (143) | (452) | (96) | (16) | (6) | |
| Comprehensive income, net of tax, attributable to noncontrolling interest | 1 | 1 | 1 | 0 | 0 | ||
| Comprehensive loss, net of tax, attributable to parent: | (152) | (142) | (451) | (96) | (16) | (6) | |
Statements sources
The financial statements are based on the company's filings with the 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.