Consolidated Statements of Operations (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2022 |
Sep. 30, 2021 |
Sep. 30, 2022 |
Sep. 30, 2021 |
|
| Revenue | ||||
| Power generation units and parts | $ 3,278,966 | $ 0 | $ 6,913,093 | $ 0 |
| Service and repairs | 2,763,886 | 0 | 8,086,449 | 0 |
| Oil and gas sales | 117,854 | 9,680,661 | 3,666,726 | 30,871,373 |
| Total revenue | 6,160,706 | 9,680,661 | 18,666,268 | 30,871,373 |
| Operating expenses | ||||
| Cost of goods sold | 4,817,640 | 0 | 9,871,239 | 0 |
| Lease operating costs | 243,679 | 4,888,546 | 1,429,847 | 14,863,294 |
| General and administrative | 2,727,655 | 1,966,519 | 11,208,417 | 4,287,453 |
| Stock based compensation | 1,025,464 | 82,055 | 1,614,334 | 470,598 |
| Depreciation, depletion and amortization | 313,191 | 2,181,326 | 1,326,661 | 6,844,553 |
| Accretion - Asset Retirement Obligation | 26,238 | 148,551 | 107,869 | 438,225 |
| Total operating expenses | 9,153,867 | 9,266,997 | 25,558,367 | 26,904,123 |
| Income (loss) from operations | (2,993,161) | 413,664 | (6,892,099) | 3,967,250 |
| Other income (expense) | ||||
| Interest expense | (154,022) | (3,180,460) | (507,067) | (9,612,335) |
| Amortization of debt discount | (2,400) | (1,261,618) | (97,296) | (3,406,654) |
| Change in fair value of derivatives | 0 | (3,425,097) | 0 | (16,401,270) |
| Net loss on sale of oil & gas and fixed assets | (7,744,680) | 0 | (7,744,680) | 0 |
| Equity in earnings of unconsolidated entity | 0 | 47,772 | 0 | 47,772 |
| Loss on financing settlements | 0 | (1,847,810) | 0 | (2,774,341) |
| Other income | 33,576 | 174,234 | 545,431 | 196,236 |
| Total other expense, net | (7,867,526) | (9,492,979) | (7,803,612) | (31,950,592) |
| Net loss before income taxes | (10,860,687) | (9,079,315) | (14,695,711) | (27,983,342) |
| Income tax benefit (expense) | 0 | 0 | 0 | 0 |
| Net loss | (10,860,687) | (9,079,315) | (14,695,711) | (27,983,342) |
| Net loss attributable to non-controlling interest | (583,774) | 0 | (1,132,628) | 0 |
| Net loss attributable to Viking Energy Group, Inc. | $ (10,276,913) | $ (9,079,315) | $ (13,563,083) | $ (27,983,342) |
| Earnings (loss) per common share | ||||
| Basic and Diluted | $ (0.09) | $ (0.10) | $ (0.12) | $ (0.38) |
| Weighted average number of common shares outstanding | ||||
| Basic and Diluted | 114,780,965 | 87,741,024 | 114,503,698 | 74,222,359 |
| X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of gain (loss) on sale or disposal of proven and unproven oil and gas properties. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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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 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 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 Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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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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- 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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- 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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- Definition Amount of income related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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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 This element represents the weighted average total number of shares issued throughout the period including the first (beginning balance outstanding) and last (ending balance outstanding) day of the period before considering any reductions (for instance, shares held in treasury) to arrive at the weighted average number of shares outstanding. Weighted average relates to the portion of time within a reporting period that common shares have been issued and outstanding to the total time in that period. Such concept is used in determining the weighted average number of shares outstanding for purposes of calculating earnings per share (basic). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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