Company profile

Ticker
PVAC
Exchange
CEO
John A. Brooks
Employees
Incorporated in
Location
Fiscal year end
SEC CIK
IRS number
231184320

PVAC stock data

(
)

Calendar

8 Nov 19
12 Dec 19
31 Dec 19

News

Company financial data Financial data

Quarter (USD) Sep 19 Jun 19 Mar 19 Dec 18
Revenue 119.3M 122.77M 105.23M 124.86M
Net income 54.36M 51.63M -38.7M 200.74M
Diluted EPS 3.59 3.4 -2.56 13.13
Net profit margin 45.57% 42.05% -36.77% 161%
Operating income 40.04M 47.89M 38.67M 54.92M
Net change in cash -1.41M 8.14M -13.21M 9.85M
Cash on hand 11.39M 12.8M 4.66M 17.86M
Cost of revenue 6.6M 6.41M 3.93M 5.77M
Annual (USD) Dec 18 Dec 17 Dec 16 Dec 15
Revenue 440.83M 160.05M 305.3M
Net income 224.79M 32.66M -1.61B -1.61B
Diluted EPS 14.7 2.17 -21.81
Net profit margin 50.99% 20.41% -526%
Operating income 208.76M 51.87M -1.57B
Net change in cash 6.85M 4.26M -5.19M 5.7M
Cash on hand 17.86M 11.02M 6.76M 11.96M
Cost of revenue 18.63M 10.73M

Financial data from company earnings reports

Financial report summary

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Competition
Westport Energy
Management Discussion
  • We are an independent oil and gas company engaged in the onshore exploration, development and production of crude oil, natural gas liquids, or NGLs, and natural gas. Our current operations consist of drilling unconventional horizontal development wells and operating our producing wells in the Eagle Ford Shale, or the Eagle Ford, in Gonzales, Lavaca, Fayette and DeWitt Counties in South Texas.
  • Crude oil prices increased moderately throughout the first half of 2019, rising from levels in the upper $40 per barrel range at the beginning of the year and into the lower $60 per barrel range in April and May before falling back to the mid $50 per barrel range by the end of September 2019 due primarily to domestic and global supply and demand and other geopolitical dynamics. While impacting us to a lesser extent, NGL and natural gas pricing has steadily declined from year-end 2018 levels due primarily to excess domestic supply. Collectively, these trends have had a substantial impact on the rate of growth in our product revenues.
  • Since February 2019, we have contracted for our drilling rigs on a pad-to-pad basis and the day rates charged for these services as well as casing costs have declined through the nine months ended September 30, 2019. In addition, costs associated with our dedicated frac services agreement including certain component stimulation product and service costs have also declined in the nine months ended September 30, 2019. For the remainder of the year, we anticipate that these costs will continue a declining trend. Costs incurred for most oilfield products and services associated with operating our properties remained relatively stable during the nine months ended September 30, 2019 and are anticipated to remain as such for the remainder of 2019 with moderate declines in certain costs consistent with recent industry experience.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: appointed, appointment, geopolitical, high, Jr, Kelley, mid, NaN, Nuevo, recoverable, referenced, Russell, serve, spacing, successor, unscheduled
Removed: agreed, caption, consent, dilutive, entry, expenditure, increasing, potentially, reduced, represented, requisite, statement, termination