Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.3.1.900
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues:      
Gas sales $ 507,726 $ 329,254 $ 21,015
Oil and condensate sales 141,816 247,381 224,129
Natural gas liquid sales 59,448 94,127 17,081
Other income 485 504 528
Total revenues 709,475 671,266 262,753
Costs and expenses:      
Lease operating expenses 69,475 52,191 26,703
Production taxes 14,740 24,006 26,933
Midstream gathering and processing 138,590 64,467 11,030
Depreciation, depletion and amortization 337,694 265,431 118,880
Impairment of oil and gas properties 1,440,418 0 0
General and administrative 41,967 38,290 22,519
Accretion expense 820 761 717
(Gain) loss on sale of assets 0 (11) 508
Total costs and expenses 2,043,704 445,135 207,290
(LOSS) INCOME FROM OPERATIONS (1,334,229) 226,131 55,463
OTHER (INCOME) EXPENSE:      
Interest expense 51,221 23,986 17,490
Interest income (643) (195) (297)
Litigation settlement 0 25,500 0
Insurance proceeds (10,015) 0 0
Gain on contribution of investments 0 (84,470) 0
Loss (income) from equity method investments 106,093 (139,434) (213,058)
Total Other (Income) Expense 146,656 (174,613) (195,865)
(LOSS) INCOME BEFORE INCOME TAXES (1,480,885) 400,744 251,328
INCOME TAX (BENEFIT) EXPENSE (256,001) 153,341 98,136
NET (LOSS) INCOME $ (1,224,884) $ 247,403 $ 153,192
NET (LOSS) INCOME PER COMMON SHARE:      
Basic (in USD per share) $ (12.27) $ 2.90 $ 1.98
Diluted (in USD per share) $ (12.27) $ 2.88 $ 1.97
Weighted average common shares outstanding - Basic (shares) 99,792,401 85,445,963 77,375,683
Weighted average common shares outstanding-Diluted (shares) 99,792,401 85,813,182 77,861,646