Geomet Inc (GMET) financial statements (2022 and earlier)

Company profile

Business Address 909 FANNIN, SUITE 3208
State of Incorp. DE
Fiscal Year End December 31
SIC 1311 - Crude Petroleum and Natural Gas (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

Current Assets
Cash, cash equivalents, and short-term investments22,8948,1087,234
Cash and cash equivalents22,8948,1087,234
Receivables 2,9016,249
Inventory, net of allowances, customer advances and progress billings 263
Inventory  263
Derivative instruments and hedges, assets  3,930
Advance royalties (3,656)(3,831)
Prepaid expense and other current assets6931,438
Other current assets148 
Other undisclosed current assets 3,6563,831
Total current assets:23,04311,70219,114
Noncurrent Assets
Property, plant and equipment 42,32975,125
Oil and gas property, full cost method 41,98474,391
Long-term investments and receivables  241
Long-term investments  241
Prepaid expense and other noncurrent assets769962
Deferred tax assets, net  1,126
Other undisclosed noncurrent assets (84,313)(149,757)
Total noncurrent assets: 7692,088
Other undisclosed assets 42,32975,125
TOTAL ASSETS:23,04354,80096,326
Current Liabilities
Accounts payable and accrued liabilities9284,6157,523
Accounts payable1523,5425,729
Accrued liabilities1231,0741,794
Taxes payable653  
Debt 71,55010,300
Derivative instruments and hedges, liabilities 834920
Asset retirement obligation 26574
Deferred tax liabilities  1,126
Other undisclosed current liabilities(650)3,6563,831
Total current liabilities:27880,92123,773
Noncurrent Liabilities
Long-term debt and lease obligation  129,000
Long-term debt, excluding current maturities  129,000
Liabilities, other than long-term debt 9,62514,872
Asset retirement obligations 8,91513,235
Derivative instruments and hedges, liabilities 7101,636
Other undisclosed noncurrent liabilities 113144
Total noncurrent liabilities: 9,738144,015
Total liabilities:27890,660167,788
Temporary equity, carrying amount48,67643,40535,852
Stockholders' equity
Stockholders' equity attributable to parent, including:(25,911)(79,264)(107,314)
Common stock414141
Treasury stock, value(94)(94)(94)
Additional paid in capital182,275187,528195,034
Accumulated other comprehensive loss  (53)
Accumulated deficit(208,133)(266,738)(302,057)
Other undisclosed stockholders' equity attributable to parent  (183)
Total stockholders' equity:(25,911)(79,264)(107,314)

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

Revenues 38,20939,383
Cost of revenue
(Cost of Goods and Services Sold)
Gross profit: 25,07821,900
Operating expenses(4,388)(34,456)(137,356)
Other undisclosed operating income 50,08017,483
Operating income (loss):(4,388)40,702(97,973)
Nonoperating expense(2,764)(5,358)(7,201)
Investment income, nonoperating(2,749)(1,809)4,421
Loss on contract termination (96)(1,083)
Interest and debt expense (5,132)(7,205)
Other undisclosed income from continuing operations before equity method investments, income taxes2,7495,1327,205
Income (loss) from continuing operations before income taxes:(4,403)35,344(105,174)
Income tax expense(25)(25)(44,043)
Income (loss) from continuing operations:(4,428)35,319(149,217)
Loss from discontinued operations(653)  
Net income (loss):(5,080)35,319(149,217)
Other undisclosed net income (loss) attributable to parent63,686 (736)
Net income (loss) attributable to parent:58,60635,319(149,953)
Other undisclosed net loss available to common stockholders, basic(5,273)(7,556)(5,850)
Net income (loss) available to common stockholders, basic:53,33227,763(155,803)
Other undisclosed net income available to common stockholders, diluted 7,556 
Net income (loss) available to common stockholders, diluted:53,33235,319(155,803)

Comprehensive Income ($ in thousands)

Net income (loss):(5,080)35,319(149,217)
Comprehensive income (loss):(5,080)35,319(149,217)
Other undisclosed comprehensive income, net of tax, attributable to parent  521
Comprehensive income (loss), net of tax, attributable to parent:(5,080)35,319(148,696)

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.

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