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TENGASCO, INC. 3 rd Qtr 2012 Results and 10Q Overview. Forward Looking Statements/Additional Information and Cautionary Note Regarding Hydrocarbon Disclosure

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Forward Looking Statements/Additional Information and

Cautionary Note Regarding Hydrocarbon Disclosure

Except for the historical information contained in this review, the matters discussed in this presentation are forward-looking statements that are based upon current expectations. Important factors that could cause actual results to differ materially from those in the forward-looking statements include risks inherent in drilling activities, the timing, and extent of changes in commodity prices, unforeseen engineering and mechanical or technological difficulties in drilling wells, availability of drilling rigs and other services, land issues, federal and state regulatory developments and other risks more fully described in the Company’s filings with the U.S. Securities and Exchange Commission(SEC).

The SEC requires oil and gas companies, in their filings with the SEC, to disclose proved reserves which are those quantities of oil and gas, which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible—from a given date forward, from known reservoirs, and under existing economic conditions (using unweighted average 12-month first day of the month prices), operating methods, and government regulations, regardless of whether deterministic or probabilistic methods are used for the estimation. We currently do not disclose probable or possible reserves in our filings with the SEC.

In this presentation, the term EUR, or estimated ultimate recovery, refers to the Company's internal estimates of hydrocarbon volumes that may be potentially discovered through drilling or recovered with additional recovery techniques, such as polymers. These estimates do not necessarily represent reserves as defined under SEC rules or the Society of Petroleum Engineer's Petroleum Resource Management System and by their nature and accordingly are more speculative and substantially less certain of recovery and no discount or other adjustment is included in the presentation of such estimates. EUR estimates and drilling locations have not been risked by Company management. Drilling results and quantities that may be ultimately recovered from the Company's interests could differ substantially. Factors affecting ultimate recovery include the success of our ongoing drilling plan, which will be directly affected by the availability of capital, drilling and production costs, commodity prices, availability of drilling services and equipment, drilling results, lease expirations, transportation constraints, regulatory approvals and other factors; and actual drilling results, including geological and mechanical factors affecting recovery rates.

quarter financial summary 000

Quarter Ended Sep 30,

2012 2011

Revenues 5,813 4,357

Production Cost and Taxes (1,808) (1,516)

DD&A (986) (694)

General and Administrative (887) (498)

Net Income From Operations 2,132 1,649

Interest Expense (191) (162)

Gain (Loss) on Derivatives (35) 420

Gain on Sale of Assets 16 20

Income Before Income Tax 1,922 1,927

Income Tax Expense (703) (741)

Net Income 1,219 1,186

Net Income Per Share – Basic $ 0.02 $ 0.02

Net Income Per Share – Fully Diluted $ 0.02 $ 0.02

Quarter Financial Summary ($ ,000)
9 month financial summary 000

Nine Months Ended Sep 30,

2012 2011

Revenues 16,009 12,804

Production Cost and Taxes (5,575) (4,718)

DD&A (2,643) (1,932)

General and Administrative (2,246)(1,739)

Net Income From Operations 5,545 4,415

Interest Expense (585) (471)

Gain (Loss) on Derivatives (140) 114

Gain on Sale of Assets 83 30

Income Before Income Tax 4,903 4,088

Income Tax Expense (1,724)(1,571)

Net Income 3,179 2,517

Net Income Per Share – Basic $ 0.05 $ 0.04

Net Income Per Share – Fully Diluted $ 0.05 $ 0.04

9 Month Financial Summary ($ ,000)
quarter revenue summary 000

Quarter Ended Sep 30,

2012 2011

Oil Revenues – Kansas 5,495 4,155

Oil Revenues – Swan Creek 123 61

Gas Revenues – Swan Creek 32 29

Methane Plant Sales 145 90

Other 18 22

Total Revenue (net) 5,8134,357

Quarter Revenue Summary ($ ,000)
9 month revenue summary 000

Nine Months Ended Sep 30,

2012 2011

Oil Revenues – Kansas 15,090 12,249

Oil Revenues – Swan Creek 248 246

Gas Revenues – Swan Creek 86 65

Methane Plant Sales 528 180

Other 57 64

Total Revenue (net) 16,00912,804

9 Month Revenue Summary ($ ,000)
carrying cost millions

At September 30, 2012

Oil & Gas Properties – Net Book Value 25.3

  • Proved Reserves (@ 12/31/2011) – Undiscounted Before Tax 134.7
  • Proved Reserves (@ 12/31/2011) – Discounted at 10% Before Tax 69.8

Pipeline – Net Book Value 6.7

Methane Facility – Net Book Value 4.5

Other PP&E – Net Book Value 0.4

2012 Capital Spending (includes accruals):

Oil & Gas Properties – 7.2 (Drilling–5.7, Polymers–1.1 (0.3 in 2nd qtr), Recompletions & Leasehold-0.4 (0.2 in 2nd qtr))

Methane Facilities - 0.4 (Electric Generator)

Section 1603 Payment (Methane Facilities) – 1.0 (2nd qtr)

Carrying Cost ($ Millions)
2012 thus far

20 wells drilled to date (15 Producers & 5 Dry)

    • Only 5 producers from SEC Proved PUD group
      • This means we drilled 10 producers not included in 2011’s SEC proved reserve total
    • Webster Area focus early
      • Drill, Produce, Polymer, Produce Even More
  • Evaluating and performing polymers now, 12 polymers completed. (1 in 4th quarter )
  • 2 polymers in 3rd quarter
  • 1 polymer thus far in 4th quarter
2012 …thus far
looking ahead

Good Inventory of wells to drill in the future…

  • Challenging Industry to keep people
    • We had our own losses in staff
  • Oil Price forecast??
    • Weak economy?
    • Demand?
  • Hedge ($65) ends at year end
Looking ahead….
slide12

2012

    • Run both gas and electric since Jan. 25th
    • Total gas produced 33,800 MMBtu though September
    • Total electric over 3.3 million Kwh through September
    • Approximately $639K in gross revenue through September
MMC