SRC Energy Inc. - 10-Q filing on 2014-04-07

Organization and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Feb. 28, 2014

Organization and Summary of Significant Accounting Policies [Abstract]

Schedule of Capitalized Overhead Expenses

		Three Months Ended								Six Months Ended
		February 28,				February 28,				February 28,				February 28,
		2014				2013				2014				2013
Capitalized Overhead		$	304			$	123			$	621			$	226

Schedule of Percentages of Oil and Gas Revenue Purchased By Major Customers

		Three Months Ended								Six Months Ended
		February 28,				February 28,				February 28,				February 28,
Major Customers		2014				2013				2014				2013
Company A			32	%			58	%			51	%			61	%
Company B			20	%			14	%			15	%			14	%
Company C			18	%			13	%			10	%			-

Schedule of Customers With Balances Greater Than 10% of Total Receivables

Major Customers		As of February 28, 2014				As of August 31, 2013
Company A			17%				24%
Company B			15%				23%
Company C			12%				12%

Reconciliation of Weighted-average Shares Outstanding Basic and Diluted

		Three Months Ended								Six Months Ended
		February 28,				February 28,				February 28,				February 28,
		2014				2013				2014				2013

Weighted-average shares outstanding-basic			76,203,938				54,900,326				74,934,940				53,272,213
Potentially dilutive common shares from:
Stock Options			512,399				1,292,599				532,095				1,180,219
Warrants			1,274,079				288,827				1,376,558				260,929
			1,786,478				1,581,426				1,908,653				1,441,148
Weighted-average shares outstanding - diluted			77,990,416				56,481,752				76,843,593				54,713,361

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

		Three Months Ended								Six Months Ended
		February 28,				February 28,				February 28,				February 28,
		2014				2013				2014				2013

Warrants			-				8,970,000				-				8,970,000
Employee stock options			886,333				2,355,000				829,160				2,450,000
Total			886,333				11,325,000				829,160				11,420,000