Geomet Inc (GMET) financial statements (2021 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 millions)

Current Assets
Cash, cash equivalents, and short-term investments2387
Cash and cash equivalents2387
Receivables 36
Inventory, net of allowances, customer advances and progress billings 0
Inventory  0
Derivative instruments and hedges, assets  4
Advance royalties (4)(4)
Prepaid expense and other current assets11
Other current assets0 
Other undisclosed current assets 44
Total current assets:231219
Noncurrent Assets
Property, plant and equipment 4275
Oil and gas property, full cost method 4274
Long-term investments and receivables  0
Long-term investments  0
Prepaid expense and other noncurrent assets11
Deferred tax assets, net  1
Other undisclosed noncurrent assets (84)(150)
Total noncurrent assets: 12
Other undisclosed assets 4275
Current Liabilities
Accounts payable and accrued liabilities158
Accounts payable046
Accrued liabilities012
Taxes payable1  
Debt 7210
Derivative instruments and hedges, liabilities 11
Asset retirement obligation 00
Deferred tax liabilities  1
Other undisclosed current liabilities(1)44
Total current liabilities:08124
Noncurrent Liabilities
Long-term debt and lease obligation  129
Long-term debt, excluding current maturities  129
Liabilities, other than long-term debt 1015
Asset retirement obligations 913
Derivative instruments and hedges, liabilities 12
Other undisclosed noncurrent liabilities 00
Total noncurrent liabilities: 10144
Total liabilities:091168
Temporary equity, carrying amount494336
Stockholders' equity
Stockholders' equity attributable to parent, including:(26)(79)(107)
Common stock000
Treasury stock, value(0)(0)(0)
Additional paid in capital182188195
Accumulated other comprehensive loss  (0)
Accumulated deficit(208)(267)(302)
Other undisclosed stockholders' equity attributable to parent  (0)
Total stockholders' equity:(26)(79)(107)

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

Revenues 3839
Cost of revenue
(Cost of Goods and Services Sold)
Gross profit: 2522
Operating expenses(4)(34)(137)
Other undisclosed operating income 5017
Operating income (loss):(4)41(98)
Nonoperating expense(3)(5)(7)
Investment income, nonoperating(3)(2)4
Loss on contract termination (0)(1)
Interest and debt expense (5)(7)
Other undisclosed income from continuing operations before equity method investments, income taxes357
Income (loss) from continuing operations before income taxes:(4)35(105)
Income tax expense(0)(0)(44)
Income (loss) from continuing operations:(4)35(149)
Loss from discontinued operations(1)  
Net income (loss):(5)35(149)
Other undisclosed net income (loss) attributable to parent64 (1)
Net income (loss) attributable to parent:5935(150)
Other undisclosed net loss available to common stockholders, basic(5)(8)(6)
Net income (loss) available to common stockholders, basic:5328(156)
Other undisclosed net income available to common stockholders, diluted 8 
Net income (loss) available to common stockholders, diluted:5335(156)

Comprehensive Income ($ in millions)

Net income (loss):(5)35(149)
Comprehensive income (loss):(5)35(149)
Other undisclosed comprehensive income, net of tax, attributable to parent  1
Comprehensive income (loss), net of tax, attributable to parent:(5)35(149)

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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