Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations (Unaudited)

v3.21.2
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