integradora de servicios petroleros oro negro,s. a. p. i ...integradora de servicios petroleros oro...
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Oro Negro,S. A. P. I. de C. V. and subsidiariesConsolidated Statements of Financial Position (No Audit)For the three months ended March 31, 2016 and December 31,
Integradora de Servicios Petroleros
negro2015
All amounts in thousands of US dollars, unless otherwise indicated
March 31. December 31.
2016 2015A s s e ts
C U R R E N T A S S E T S :Cash and cash equivalents $ 63,587 $ 40,933Trade and other receivables 116,564 111,047Prepaid expenses 1,954 2.413
T o ta l c u r r e n t a s s e ts 182.105 154.393
N O N -C U R R E N T A S S E T S :Property, plant and equipment 1,144,073 1,150,347Prepayments for jack-up acquisitions 137,232 132,712Intangible assets 397 472Deferred income tax asset 41.545 41.545
T o ta l n o n -c u r re n t a s s e ts 1.323.247 1.325.076
T o ta l a s s e ts
L ia b ili t ie s a n d s to c k h o ld e rs ’ e q u ity
$ 1.505.352 $1,479,469
C U R R E N T L IA B IL IT IE S :Current portion of long-term debt $ 279,098 $ 258,570Current portion of deferred revenue 5,178 7,595Trade and other payables 36,818 22,876Related parties 3,000 3,000Other liabilities 8.663 8.172
T o ta l c u r r e n t lia b ilit ie s 332.757 300.213
N O N -C U R R E N T L IA B IL IT IE S :Long-term debt 645,966 645,393Deferred revenue 5,463 5,463Deferred income tax liability 6,028 6,028Employee benefits 8 8
T o ta l n o n -c u r re n t lia b ilit ie s 657.465 656.892
T o ta l lia b ilit ie s 990.222 957.105
S T O C K H O L D E R S ’ E Q U IT Y :Share capital 590,004 590,004Share premium 6,000 6,000Accumulated deficit (73,639) (62,259)Loss for the year (7,234) (11,380)Actuarial losses _________a) _______ 0.)
T o ta l s to c k h o ld e r s ’ e q u ity 515.130 522.364
T o ta l lia b ilit ie s a n d s to c k h o ld e rs ’ e q u ity $ 1,505,352 $1,479,469
redefimendo lopossibles
J ivn tr BcKfQS Sionti 540 of 103 * P;nk Pin/;) Tone 1 Col Sonin FY Alvei o Obioqon Mcjcui D f C P 01210 T • 52 (55) 5992 8300
Oro Negro, S. A. P. I. de C. V. and subsidiariesConsolidated Statements of Comprehensive Income (No Audit) For the three months ended March 31, 2016 and 2015______
Integradora de Servicios Petrolerosnegro
All amounts in thousands of US dollars, unless otherwise indicated
For the three months ended March 31,
2016 2015
Revenue $ 50,651 $ 65,464Operating costs (28.926) —(32,066)
Gross profit 21,725 33,398
Administrative expenses (6,241) (4,165)Other income - Net _____ (63) 629
Operating profit 15,421 29,862
Financing income 6 22Financing cost (22.661) (22.230)
Financing cost - Net (22.655) (22,208)
(Loss) profit before income taxes (7,234) 7,654
Income tax benefit - -
(Loss) profit for the year (7,234) 7,654
Other comprehensive incomeItems that may be reclassified subsequently to profit or loss - -
Total comprehensive (loss) income for the year attributable to owners of the parent company ($ 7234) $ 7.654
Edgar Rodrigo Garcia Garcia General Controller
redefimendo lopossible«
J.ivK i B.'ino:- S'lrru» 540 <-l 103 Pat* Pl.i/a Tout: 1 C d ScintdFi' Alvaio Obirqn-i . D I C P 0 1 2 K IT • 52 (55) 5992 8300
subsidiaries K) O n K HConsolidated Statements of Changes in Stockholders’ Equity (No Audit) * *For the three months ended March 31, 2016 and 2015
Integradora de Servicios Petroleros Oro Negro, S. A. P. I. de C. V. and
All amounts in thousands of US dollars, unless otherwise indicated
Attributable to owners of the parent company
Share Share Accumulated Actuarial Totalcapital premium losses deficit equitv
Balances at January 1, 2015 $590,004 $6,000 ($62,259) ($ 1) $533,744
Total comprehensive income for the year _ 7.654 _ 7.654
Balances as of March 31, 2015 $590,004 $6,000 ($54,605) (LI) $541,398
Balances at January 1, 2016 $590,004 $6,000 ($73,639) ($ 1) $522,364
Total comprehensive loss for the year _ _ (7,234) _ (7,234)
Balances as of March 31, 2016 $590,004 $ 6.000 ($80,873) ( M ) $515,130
Javier Barros Sierra 540 of 103 Park Plaza Torre 1 Col. Santa Fe Alvaro Obtogon Mexico D F . C P 01210 T -5 2 (5 5 ) 5992 8300
redefimendo loposs ib le <
O ro Negro, S. A. P. I. de C. V. and subsidiariesConsolidated Statements of Cash Flows (No Audit)For the three months ended March 31, 2016 and 2015_____
Integradora de Servicios Petroleros
negroAll amounts In thousands of US dollars, unless otherwise indicated
For the three months ended March 31,
2016 2015O p e ra t in g a c t iv it ie s
Loss before income tax ($ 7,234) $ 7,654Depreciation and amortization 10,700 8,843Certification 1,023 1,001Deferred costs amortization - 2,326Deferred revenue amortization (2,417) (2,736)Financing cost - Net 22.661 22.230
Cash flow from operating activities 24.733 39.318
Trade receivables and other assets (5,058) 25,273Trade payables and other liabilities 13.533 (4.962)
Net cash generated in operating activities
In v e s t in g a c t iv it ie s
33.208 59.629
Acquisition of property, plant and equipment (8.890) (180.692)
Net cash used used in investing activities
F in a n c in g a c t iv it ie s
(8.890) (180.692)
Interest paid (1.664) (33.578)
Net cash flows provided by financing activities (1.664) (33.578)
Increase in cash and cash equivalents 22,654 (154,641)
Cash and cash equivalents at beginning of the year 40.933 232.926
Cash and cash equivalents at end of the year S 63.587 S 78.285
redefimendo lopossible <
Javici B?rios S iiK iti 540 >>! K)3 Pnik Pla/u Turn' I O il S r in h ilo Alvaro Obiocjon Mr.xico D T C P 0 ’ 2IO T -52 (5515992 8300