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 Aug 19
17 Sep 19
31 Dec 19

News

Company financial data Financial data

Quarter (USD) Jun 19 Mar 19 Dec 18 Sep 18
Revenue 122.77M 105.23M 124.86M 127.19M
Net income 51.63M -38.7M 200.74M 16.28M
Diluted EPS 3.4 -2.56 13.13 1.06
Net profit margin 42.05% -36.77% 161% 12.80%
Operating income 47.89M 38.67M 54.92M 64.04M
Net change in cash 8.14M -13.21M 9.85M -3.51M
Cash on hand 12.8M 4.66M 17.86M 8.01M
Cost of revenue 6.41M 3.93M 5.77M 4.93M
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 primarily 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 upper $50 per barrel range by the end of June 2019 due primarily to domestic and global supply and demand 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.
  • Since February 2019, we have contracted for our drilling rigs on a pad-to-pad basis and the day rates charged for these services have remained relatively unchanged through the first half of 2019 while related casing costs have declined. While we have a minimum utilization commitment for dedicated frac services, certain component stimulation product and service costs have also declined in the first half of 2019. For the balance of the year, we anticipate that both drilling day rate and stimulation costs will decline. Costs incurred for most oilfield products and services associated with operating our properties remained relatively stable during the first half of 2019 and are anticipated to remain as such for the second half 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: CFO, Conduct, count, departure, document, doubtful, earlier, embedded, eventual, falling, formatted, growing, Inline, instance, mentioned, modest, page, phase, President, reach, Reform, shift, southeastern, stimulation, SVP, technical, Treasurer, unchanged, Vice, XBRL
Removed: coverage, EBITDAX, fourth, grown, location, opposed, periodic, reduce, shareholder