Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.6.0.2
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues:      
Gas sales $ 420,128 $ 324,733 $ 226,126
Oil and condensate sales 81,173 122,615 241,210
Natural gas liquid sales 59,115 58,129 94,127
Net (loss) gain on gas, oil, and NGL derivatives (174,506) 203,513 109,299
Total revenues 385,910 708,990 670,762
Costs and expenses:      
Lease operating expenses 68,877 69,475 52,191
Production taxes 13,276 14,740 24,006
Midstream gathering and processing 165,972 138,590 64,467
Depreciation, depletion and amortization 245,974 337,694 265,431
Impairment of oil and gas properties 715,495 1,440,418 0
General and administrative 43,409 41,967 38,290
Accretion expense 1,057 820 761
Gain on sale of assets 0 0 (11)
Total costs and expenses 1,254,060 2,043,704 445,135
(LOSS) INCOME FROM OPERATIONS (868,150) (1,334,714) 225,627
OTHER (INCOME) EXPENSE:      
Interest expense 63,530 51,221 23,986
Interest income (1,230) (643) (195)
Litigation settlement 0 0 25,500
Insurance proceeds (5,718) (10,015) 0
Gain on debt extinguishment 23,776 0 0
Gain on contribution of investments 0 0 (84,470)
Loss (income) from equity method investments 33,985 106,093 (139,434)
Other expense (income) 129 (485) (504)
Total Other (Income) Expense 114,472 146,171 (175,117)
(LOSS) INCOME BEFORE INCOME TAXES (982,622) (1,480,885) 400,744
INCOME TAX (BENEFIT) EXPENSE (2,913) (256,001) 153,341
NET (LOSS) INCOME $ (979,709) $ (1,224,884) $ 247,403
NET (LOSS) INCOME PER COMMON SHARE:      
Basic (usd per share) $ (7.97) $ (12.27) $ 2.90
Diluted (usd per share) $ (7.97) $ (12.27) $ 2.88
Weighted average common shares outstanding - Basic (shares) 122,952,866 99,792,401 85,445,963
Weighted average common shares outstanding-Diluted (shares) 122,952,866 99,792,401 85,813,182