Consolidated Statements of Operations (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
| Revenue | ||||
| Oil and gas sales | $ 9,680,661 | $ 10,149,387 | $ 30,871,373 | $ 31,487,202 |
| Operating expenses | ||||
| Lease operating costs | 4,888,546 | 4,991,648 | 14,863,294 | 13,147,640 |
| General and administrative | 1,966,519 | 1,190,145 | 4,287,453 | 3,391,982 |
| Stock based compensation | 82,055 | 3,235,200 | 470,598 | 3,686,582 |
| Depreciation, depletion and amortization | 2,181,326 | 2,573,183 | 6,844,553 | 8,671,593 |
| Impairment of oil and gas properties | 0 | 2,500,000 | 0 | 2,500,000 |
| Accretion - ARO | 148,551 | 119,659 | 438,225 | 360,937 |
| Total operating expenses | 9,266,997 | 14,609,835 | 26,904,123 | 31,758,734 |
| Income from operations | 413,664 | (4,460,448) | 3,967,250 | (271,532) |
| Other income (expense) | ||||
| Interest expense | (3,180,460) | (5,327,925) | (9,612,335) | (16,821,040) |
| Amortization of debt discount | (1,261,618) | (3,228,124) | (3,406,654) | (6,005,728) |
| Change in fair value of derivatives | (3,425,097) | (5,018,338) | (16,401,270) | 8,569,093 |
| Equity in earnings of unconsolidated entity | 47,772 | 0 | 47,772 | 0 |
| Loss on financing settlements | (1,847,810) | 0 | (2,774,341) | (931,894) |
| Interest and other income | 174,234 | 28 | 196,236 | 2,503 |
| Total other income (expense) | (9,492,979) | (13,574,359) | (31,950,592) | (15,187,066) |
| Net income (loss) before income taxes | (9,079,315) | (18,034,807) | (27,983,342) | (15,458,598) |
| Income tax benefit (expense) | 0 | 0 | 0 | |
| Net income (loss) | (9,079,315) | (18,034,807) | (27,983,342) | (15,458,598) |
| Net (income) loss attributable to noncontrolling interest | 0 | 1,028,313 | 0 | 1,182,952 |
| Net income (loss) attributable to Viking Energy Group, Inc. | $ (9,079,315) | $ (17,006,494) | $ (27,983,342) | $ (14,275,646) |
| Earnings (loss) per common share | ||||
| Basic and Diluted | $ (0.10) | $ (0.75) | $ (0.38) | $ (0.83) |
| Weighted average number of common shares outstanding | ||||
| Basic and Diluted | 87,741,024 | 22,649,319 | 74,222,359 | 17,164,033 |
| X | ||||||||||
- Definition Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate net amount of depreciation, amortization, and accretion recognized during an accounting period. As a noncash item, the net amount is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The expense recorded to reduce the value of oil and gas assets consisting of proved properties and unproved properties as the estimate of future successful production from these properties is reduced. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, before tax, of income (loss) attributable to parent. Includes, but is not limited to, income (loss) from continuing operations, discontinued operations and equity method investments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax of income (loss) from continuing operations attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax of income (loss) from continuing operations attributable to the noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business). No definition available.
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- Definition The net amount of operating interest income (expense). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of single lease cost, calculated by allocation of remaining cost of lease over remaining lease term. Includes, but is not limited to, single lease cost, after impairment of right-of-use asset, calculated by amortization of remaining right-of-use asset and accretion of lease liability. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount of noncash expense for share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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- References No definition available.
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