Press Release: Goodrich Petroleum Announces Third -2-
Press Release: Goodrich Petroleum Announces Third -2-
Capital expenditures totaled $27.9 million in the quarter, of which a majority was spent on drilling and completion costs, versus $16.9 million in the prior year period, of which a majority was also spent on drilling and completion costs. The Company conducted drilling and completion operations on 12 gross (4.5 net) wells in the quarter and added 4 gross (2.2 net) wells to production. The Company had 8 gross (2.3 net) wells in the drilling or completion process at the end of the quarter.
該季度的資本支出總額為2790萬美元，其中大部分用於鑽井和完井成本，而去年同期為1690萬美元，其中大部分也用於鑽井和完井成本。該公司在本季度進行了12口總(4.5淨)井的鑽井和完井作業，並增加了4口總(2.2淨)井的產量。截至本季度末，該公司在鑽井或完井過程中的油井總數為8口(淨額2.3口)。
BALANCE SHEET
資產負債表
The Company exited the quarter with $5.5 million of cash, $90.4 million outstanding under the Company's credit facility, and total principal debt outstanding, including the credit facility and second lien notes, of $122.9 million.
本季度結束時，該公司有550萬美元的現金、9040萬美元的公司信貸安排未償債務以及包括信貸安排和第二留置權票據在內的未償本金債務總額為1.229億美元。
CRUDE OIL AND NATURAL GAS DERIVATIVES
原油和天然氣衍生產品
The Company had a loss of $77.4 million on its derivatives not designated as hedges in the quarter, which was comprised of a loss of $12.5 million on cash settlements and a $64.9 million loss representing the change of the fair value of our open natural gas and oil derivative contracts. The Company had a loss of $11.1 million on its derivatives not designated as hedges in the prior year period, which was comprised of a $12.7 million loss representing the change of the fair value of our open natural gas and oil derivative contracts, offset by a gain of $1.6 million on cash settlements.
該公司本季度在其未被指定為套期保值的衍生品上虧損7740萬美元，其中包括1250萬美元的現金結算虧損和6490萬美元的虧損，這是我們未平倉天然氣和石油衍生品合約的公允價值變化。該公司上一年在其未指定為套期保值的衍生品上虧損1110萬美元，其中包括1270萬美元的虧損，這是我們未平倉天然氣和石油衍生品合約的公允價值變化，被現金結算的160萬美元收益所抵消。
OTHER INFORMATION
其他信息
Certain statements in this news release regarding future expectations and plans for future activities may be regarded as "forward looking statements" within the meaning of the Securities Litigation Reform Act. They are subject to various risks, such as financial market conditions, changes in commodities prices and costs of drilling and completion, operating hazards, drilling risks, and the inherent uncertainties in interpreting engineering data relating to underground accumulations of oil and gas, as well as other risks discussed in detail in the Company's Annual Report on Form 10-K for the year ended December 31, 2020 and other subsequent filings with the Securities and Exchange Commission. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.
本新聞稿中有關未來預期和未來活動計劃的某些陳述可被視為“證券訴訟改革法”所指的“前瞻性陳述”。這些風險會受到各種風險的影響，例如金融市場狀況、大宗商品價格的變化、鑽井和完井成本、操作風險、鑽井風險、解釋與地下油氣聚集有關的工程數據的內在不確定性，以及在公司提交給證券交易委員會的截止到2020年12月31日的10-K表格年度報告和其他後續文件中詳細討論的其他風險。儘管該公司相信這些前瞻性陳述中反映的預期是合理的，但它不能保證這些預期將被證明是正確的。
Unless otherwise stated, oil production volumes include condensate.
除非另有説明，否則石油產量包括凝析油。
NON-US GAAP INFORMATION
非美國GAAP信息
In this press release, the Company refers to several non-US GAAP financial measures, including Adjusted EBITDA, DCF, Return on Invested Capital ("ROIC"), cash margin, oil and natural gas revenues adjusted for cash settled derivatives, adjusted net income, adjusted operating income (loss), G&A expense payable in cash and interest payable in cash. Management believes Adjusted EBITDA, DCF and ROIC are good financial indicators of the Company's performance and ability to internally generate operating funds. Adjusted EBITDA and adjusted net income should not be considered an alternative to net income (loss) applicable to common stock, as defined by US GAAP. DCF should not be considered an alternative to net cash provided by operating activities, as defined by US GAAP. Oil and natural gas revenues adjusted for cash settled derivatives should not be considered an alternative for oil and natural gas revenues, as defined by US GAAP. Adjusted operating income (loss) should not be considered an alternative to operating income (loss), as defined by US GAAP. G&A expense payable in cash should not be considered an alternative to general and administrative expense, as defined by US GAAP. Interest payable in cash should not be considered an alternative to interest expense, as defined by US GAAP. Management believes that all of these non-US GAAP financial measures provide useful information to investors because they are monitored and used by Company management and widely used by professional research analysts in the valuation and investment recommendations of companies within the oil and gas exploration and production industry.
在本新聞稿中，該公司提到了幾個非美國GAAP財務指標，包括調整後的EBITDA、DCF、投資資本回報率(ROIC)、現金利潤率、經現金結算的衍生工具調整後的石油和天然氣收入、調整後的淨收益、調整後的營業收入(虧損)、以現金支付的G&A費用和以現金支付的利息。管理層認為，調整後的EBITDA、DCF和ROIC是衡量公司業績和內部產生運營資金能力的良好財務指標。根據美國公認會計原則的定義，調整後的EBITDA和調整後的淨收入不應被視為適用於普通股的淨收入(虧損)的替代方案。按照美國公認會計原則的定義，貼現現金流不應被視為經營活動提供的淨現金的替代方案。根據美國公認會計準則(GAAP)的定義，經現金結算衍生品調整後的石油和天然氣收入不應被視為石油和天然氣收入的替代品。根據美國公認會計原則的定義，調整後的營業收入(虧損)不應被視為營業收入(虧損)的替代方案。按照美國公認會計原則(GAAP)的定義，以現金支付的G&A費用不應被視為一般和行政費用的替代方案。按照美國公認會計原則的定義，以現金支付的利息不應被視為利息支出的替代方案。管理層認為，所有這些非美國GAAP財務指標都為投資者提供了有用的信息，因為它們由公司管理層監控和使用，並被專業研究分析師廣泛用於油氣勘探和生產行業內公司的估值和投資建議。
Goodrich Petroleum is an independent oil and natural gas exploration and production company listed on the NYSE American under the symbol "GDP".
固特立石油公司是一家獨立的石油和天然氣勘探和生產公司，在紐約證券交易所美國交易所上市，代碼為“GDP”。
GOODRICH PETROLEUM CORPORATION
SELECTED INCOME AND PRODUCTION DATA
(In thousands, except per share amounts)
Unaudited
Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended
September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020
Volumes
Natural gas (MMcf) 15,108 11,346 40,113 35,937
Oil and condensate (MBbls) 26 33 89 106
Mmcfe - Total 15,265 11,543 40,646 36,576
Mcfe per day 165,925 125,462 148,885 133,487
Reconciliation of Oil and
natural gas revenues
adjusted for cash settled
derivatives (non-US GAAP)
Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended
September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020
Oil and natural gas
revenues (US GAAP) $ 58,733 $ 21,463 $ 128,708 $ 64,917
Net cash received (paid)
for settlement of
derivative instruments (12,498) 1,597 (14,515) 14,905
Oil and natural gas
revenues adjusted for cash
settled derivatives $ 46,235 $ 23,060 $ 114,193 $ 79,822
Oil and natural gas
revenues $ 58,733 $ 21,463 $ 128,708 $ 64,917
Other - 3 - 9
$ 58,733 $ 21,466 $ 128,708 $ 64,926
Operating Expenses
Lease operating expense
(LOE excluding workovers -
$3,016, $2,524, $8,622 and
$8,064, respectively) 3,277 2,831 10,429 9,384
Production and other taxes 1,291 591 2,756 2,361
Transportation and
processing 4,811 4,336 13,457 14,586
Depreciation, depletion and
amortization 13,389 10,341 35,671 35,484
General and administrative
(payable in cash - $3,822,
$2,878, $10,126 and
$9,828, respectively) 4,329 3,891 11,302 13,327
Impairment of oil and
natural gas properties - 3,040 - 17,170
Other 4 (11) (183) (13)
Operating income (loss) 31,632 (3,553) 55,276 (27,373)
Other income (expense)
Interest expense (payable
in cash - $884, $1,001,
$2,612 and $3,149,
respectively) (2,232) (1,733) (6,255) (5,410)
Interest income and other - 5 - 147
Gain (loss) on commodity
derivatives not designated
as hedges (77,369) (11,079) (103,111) (3,629)
Loss on early
extinguishment of debt - - (935) -
(79,601) (12,807) (110,301) (8,892)
Loss before income taxes (47,969) (16,360) (55,025) (36,265)
Income tax expense - - - -
Net loss $ (47,969) $ (16,360) $ (55,025) $ (36,265)
Discretionary cash flow
(see non-US GAAP
reconciliation) (1) $ 32,291 $ 11,790 $ 75,434 $ 41,687
Adjusted EBITDA (see
calculation and non-US
GAAP reconciliation) (2) $ 33,217 $ 12,731 $ 77,885 $ 44,581
Weighted average common
shares outstanding -
basic 13,641 12,618 13,481 12,564
Weighted average common
shares outstanding -
diluted (3) 13,641 12,618 13,481 12,564
Net loss per share
Net loss per share - basic $ (3.52) $ (1.30) $ (4.08) $ (2.89)
Net loss per share -
diluted $ (3.52) $ (1.30) $ (4.08) $ (2.89)
(1) Discretionary cash flow is defined as net cash provided by operating activities before changes in operating assets and
liabilities. Management believes that the non-US GAAP measure of discretionary cash flow is useful as an indicator of an
oil and natural gas exploration and production company's ability to internally fund exploration and development activities
and to service or incur additional debt. The company has also included this information because changes in operating assets
and liabilities relate to the timing of cash receipts and disbursements which the company may not control and may not
relate to the period in which the operating activities occurred. Operating cash flow should not be considered in isolation
or as a substitute for net cash provided by operating activities prepared in accordance with US GAAP.
古德里奇石油公司選定的收入和生產數據(單位為千，每股除外)未經審計截至三個月截至三個月截至九個月截至九個月2021年9月30日2020年9月30日卷數天然氣(MMCF)15,108 11,346 40,113 35,937石油和凝析油(MBBLS)26 33 89 106MMcfe-總計15,265 11,543 40,646 36,576每天165,925 125,462 148,885 133,487石油和天然氣調和天然氣收入根據現金結算進行調整衍生品(非美國GAAP)截至三個月截至三個月截至九個月截至九個月2021年9月30日2020年9月30日石油和天然氣收入(美國公認會計準則)58,733美元21,463美元128,708美元64,917收到(支付)的現金淨額為交收衍生工具(12,498)1,597(14,515)14,905石油和天然氣經現金調整後的收入已結算衍生工具$46,235$23,060$114,193$79,822石油和天然氣收入58,733美元21,463美元128,708美元64,917美元其他-3-9 $ 58,733 $ 21,466 $ 128,708 $ 64,926 運營費用租賃經營費(LOE，不包括修井-3,016元、2,524元、8,622元及分別為8,064美元)3,277,831 10,429 9,384生產税和其他税1,291,591,756,2361交通運輸和處理4,811,336 13,457 14,586折舊、損耗和攤銷13,389 10,341 35,671 35,484一般事務和行政事務(以現金支付-3822美元，2,878元、10,126元及分別為9,828美元)4,329 3,891 11,302 13,327油類減損及油類減值天然氣屬性-3,040-17,170其他4(11)(183)(13)營業收入(虧損)31,632(3,553)55,276(27,373)其他收入(費用)利息支出(應付現金-884美元，1001美元，2612美元和3149美元，分別)(2,232)(1,733)(6,255)(5,410)利息收入和其他-5-147商品損益衍生品未被指定作為對衝(77,369)(11,079)(103,111)(3,629)早早虧損清償債務--(935)- (79,601) (12,807) (110,301) (8,892) 所得税前虧損(47,969)(16,360)(55,025)(36,265)所得税費用淨虧損$(47,969)$(16,360)$(55,025)$(36,265)可自由支配現金流(請參閲非美國GAAP(1)$32,291$11,790$75,434$41,687調整後的EBITDA(請參見計算和非美國公認會計準則對賬)(2)$33,217$12,731$77,885$44,581加權平均公約數流通股-基本13,641 12,618 13,481 12,564加權平均公約數流通股-稀釋(3)13,641 12,618 13,481 12,564每股淨虧損每股淨虧損-基本$(3.52)$(1.30)$(4.08)$(2.89)每股淨虧損-稀釋$(3.52)$(1.30)$(4.08)$(2.89)(一)可自由支配現金流量是指經營性資產變動前經營活動提供的現金淨額。負債。管理層認為，非美國公認會計準則(GAAP)衡量可自由支配現金流是一項有用的指標石油和天然氣勘探與生產公司為勘探和開發活動提供內部資金的能力並償還或招致額外的債務。該公司也納入了這一信息，因為運營資產的變化負債與公司可能無法控制和可能無法控制的現金收入和支出的時間有關。指經營活動發生的期間。不應孤立地考慮運營現金流或作為根據美國公認會計原則編制的經營活動提供的現金淨額的替代品。
譯文內容由第三人軟體翻譯。