Company Quick10K Filing
Crimson Exploration
10-Q 2013-06-30 Filed 2013-08-08
10-Q 2013-03-31 Filed 2013-05-08
10-K 2012-12-31 Filed 2013-03-15
10-Q 2012-09-30 Filed 2012-11-07
10-Q 2012-06-30 Filed 2012-08-08
10-Q 2012-03-31 Filed 2012-05-09
10-K 2011-12-31 Filed 2012-03-13
10-Q 2011-09-30 Filed 2011-11-09
10-Q 2011-06-30 Filed 2011-08-11
10-Q 2011-03-31 Filed 2011-05-12
10-K 2010-12-31 Filed 2011-03-18
10-Q 2010-09-30 Filed 2010-11-10
10-Q 2010-06-30 Filed 2010-08-05
10-Q 2010-03-31 Filed 2010-05-11
10-K 2009-12-31 Filed 2010-03-16

Crimson Exploration Financials

GULF Metrics, Comps, Filings

Quarterly | Annual

Business

We are an independent energy company engaged in the exploitation, exploration, development and acquisition of crude oil and natural gas properties. We have historically focused our operations in the onshore U.S. Gulf Coast, Texas and Colorado regions, which are generally characterized by high rates of return in known, prolific producing trends. We have shifted our strategic focus to include longer reserve life resource plays in Southeast Texas (the Woodbine oil plays), South Texas (the Eagle Ford Shale oil play and crude oil play in the Buda formation). We believe these plays provide significant long-term growth potential from multiple formations. Additionally, we have producing properties in the Denver Julesburg Basin ("DJ Basin") in Weld and Adams counties in Colorado, which we believe are prospective in the Niobrara Shale oil play. Until we see improvement in natural gas prices, we will focus our drilling activity predominantly on further developing our oil and liquids-rich assets.

We intend to grow reserves and production by developing our existing producing property base including, developing our oil/liquids resource potential in Southeast and South Texas, and by pursuing opportunistic acquisitions in areas where we have current operations and specific operating expertise. In 2012, we successfully transitioned from a predominantly natural gas weighted production profile to a current production profile of approximately 50 percent crude oil and natural gas liquids. We have developed a significant inventory of high quality drilling opportunities on our existing property base that should provide the opportunity for multiyear reserve growth. In 2013, we will continue to focus on our inventory of crude oil and liquids-rich projects in the Woodbine formation with a continuous rig program planned for 2013. We also currently plan to drill one or more test wells in the crude oil play in the Buda formation in Zavala/Dimmit counties in South Texas. We will continue to monitor increasing industry activity in the James Lime play in East Texas and the oil weighted Niobrara Shale in the DJ Basin of Colorado to determine the future potential and strategy for optimizing value in each play prior to expending drilling capital. The results of drilling activity near our acreage will influence our strategy and activity level in these plays; and given success by nearby operators, we may adjust our capital budget to capitalize on opportunities on our acreage positions in these plays.

As of December 31, 2012, our proved reserves, as estimated by Netherland, Sewell & Associates, Inc. ("NSAI"), our independent petroleum engineering firm, in accordance with reserve reporting guidelines mandated by the Securities and Exchange Commission ("SEC"), were 117.0 Bcfe, consisting of 61.9 Bcf of natural gas and 9.2 MMBbl of crude oil, condensate and natural gas liquids, with a PV-10 of $340.1 million, and a Standardized Measure of Discounted Future Net Cash Flows ("Standardized Measure") of $296.4 million. As of December 31, 2012, 53% of our proved reserves were natural gas, 54% were proved developed and 90% were attributed to wells and properties operated by us. Year-end PV-10 is a non-GAAP financial measure. A reconciliation of our Standardized Measure to PV-10 is provided under "Item 2. Properties - Proved Reserves".


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Equity

Income Statement ($BB Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($BB Quarterly)

Ops, Inv, Fin

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Herc Holdings (HRI) 1,367 0% 77.2 1% 3,903 3,310 2,003 0 46 46 3,512
Fortress Transportation & Infrastructure Investors (FTAI) 1,325 0% 11.7 1% 3,135 2,029 584 0 41 238 2,777
Energy Fuels (EFR) 1,277 19% -45.1 -16% 181 47 8 2 -30 -28 1,243
Railamerica (RA) 1,105 0% 18.0 -0% 1,669 1,004 590 0 -5 94 1,695
H&E Equipment Services (HEES) 1,032 28% 5.5 4% 2,069 1,775 1,346 371 90 186 1,021
Pep Boys Manny Moe & Jack (PBY) 885 23% 16.0 0% 1,492 945 2,079 479 0 63 1,008
Crimson Exploration (GULF) 782 0% 12.0 0% 371 294 120 0 0 85 1,012
Dusa Pharmaceuticals (DUSA) 551 85% 121.8 9% 42 11 54 46 4 4 522
AG Mortgage Investment Trust (MITT) 513 5.5 0% 4,749 3,915 0 0 20 119 656
Digital River (DRIV) 470 81% 9.2 0% 734 378 386 312 0 26 236
Amneal Pharmaceuticals (AMRX) 426 25% -85.4 -12% 3,704 3,308 1,727 436 -427 -33 2,845
Pinnacle Foods (CIK) 378 29% 3.3 9% 6,435 4,004 3,154 911 604 930 3,055
Cellect Biotechnology (APOP) 346 0% 21 0 0 0 0 345
Fly Leasing (FLY) 344 0% -9.7 -0% 4,226 3,524 454 0 -7 -7 63
Fronteo (FTEO) 280 0% 13,843 8,825 0 0 0 0 -282
Integrated Biopharma (INB) 277 13% 95.7 9% 20 17 51 6 2 3 285
First California Financial Group (FCAL) 248 6.4 0% 1,737 1,504 0 0 7 31 198
Pingtan Marine Enterprise (PME) 168 31% 31.0 2% 393 239 55 17 8 10 324
Alliance Healthcare Services (AIQ) 146 43% 6.1 3% 654 663 524 226 18 109 666
Sterling Real Estate Trust (SRET) 140 4% 15.5 2% 698 418 120 4 17 33 510

Balance Sheet ($MM)2011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-30
Cash000000000
Accounts Receivable181416161415121214
Inventory
PP&E387386397415427426301298298
Assets425422436457467463369367371
Accounts Payable434250414435313239
Long-Term Debt186184190223228241244239230
Liabilities252248267291297296289292294
Stockholders' Equity174170166170167807677
Income Statement ($MM)2011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-30
Revenue302928273131282437
Cost of Revenue
Gross Profit
R&D
SG&A456555647
Tax-10-30200-20
Net Income-3
Cash Flow ($MM)2011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-30
Cash Operating21123171228
Cash Investing-27-33-27-14-5-11-19
Cash Financing632513-2-1-9