Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
Jun. 30, 2018 |
Jun. 30, 2017 |
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| Revenues: | ||||
| Natural gas sales | $ 232,695 | $ 205,367 | $ 482,094 | $ 383,204 |
| Oil and condensate sales | 49,319 | 29,468 | 95,005 | 53,879 |
| Natural gas liquid sales | 41,271 | 24,247 | 88,107 | 55,426 |
| Net (loss) gain on natural gas, oil, and NGL derivatives | (70,545) | 64,871 | (87,074) | 164,448 |
| Total revenues | 252,740 | 323,953 | 578,132 | 656,957 |
| Costs and expenses: | ||||
| Lease operating expenses | 22,912 | 20,721 | 41,818 | 40,024 |
| Production taxes | 7,659 | 5,139 | 14,513 | 9,045 |
| Midstream gathering and processing | 71,440 | 58,945 | 135,633 | 106,886 |
| Depreciation, depletion and amortization | 121,915 | 82,246 | 232,933 | 148,237 |
| General and administrative | 14,008 | 12,257 | 27,107 | 24,857 |
| Accretion expense | 1,015 | 410 | 2,019 | 692 |
| Acquisition expense | 0 | 1,060 | 0 | 2,358 |
| Total costs and expenses | 238,949 | 180,778 | 454,023 | 332,099 |
| (LOSS) INCOME FROM OPERATIONS | 13,791 | 143,175 | 124,109 | 324,858 |
| OTHER (INCOME) EXPENSE: | ||||
| Interest expense | 33,704 | 24,188 | 67,669 | 47,667 |
| Interest income | (33) | (48) | (70) | (890) |
| Insurance proceeds | (231) | 0 | (231) | 0 |
| Gain on sale of equity method investments | (122,035) | (12,523) | (122,035) | (12,523) |
| (Income) loss from equity method investments, net | (8,888) | 25,824 | (22,424) | 30,731 |
| Other income | (45) | (202) | (140) | (518) |
| Total other (income) expense | (97,528) | 37,239 | (77,231) | 64,467 |
| INCOME (LOSS) BEFORE INCOME TAXES | 111,319 | 105,936 | 201,340 | 260,391 |
| INCOME TAX BENEFIT | 0 | 0 | (69) | 0 |
| NET INCOME (LOSS) | $ 111,319 | $ 105,936 | $ 201,409 | $ 260,391 |
| NET INCOME PER COMMON SHARE: | ||||
| Basic (in usd per share) | $ 0.64 | $ 0.58 | $ 1.14 | $ 1.47 |
| Diluted (in usd per share) | $ 0.64 | $ 0.58 | $ 1.13 | $ 1.47 |
| Weighted average common shares outstanding - Basic (in shares) | 173,623,630 | 182,840,213 | 177,158,230 | 176,591,166 |
| Weighted average common shares outstanding - Diluted (in shares) | 174,140,627 | 182,841,730 | 177,737,282 | 176,842,239 |
| X | ||||||||||
- Definition Revenue from the sale of natural gas liquids during the period. No definition available.
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| X | ||||||||||
- Definition Amount of accretion expense recognized during the period that is associated with an asset retirement obligation. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This element represents acquisition-related costs incurred to effect a business combination which costs have been expensed during the period. Such costs include finder's fees; advisory, legal, accounting, valuation, and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and may include costs of registering and issuing debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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| X | ||||||||||
- 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/presentationRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of gain (loss) on sale or disposal of an equity method investment. No definition available.
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| X | ||||||||||
- Definition Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Cost incurred related to the gas activities, such as transportation, marketing and processing crude oil, natural gas and refined petroleum products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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://www.xbrl.org/2003/role/presentationRef
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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/presentationRef
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- Definition This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- 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/presentationRef
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- Definition The amount recovered from insurance. These recoveries reduce costs and losses that are reported as a separate line item under operating expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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/presentationRef
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- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of lease operating expense related to property used in oil and gas production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Revenue from natural gas production during the reporting period. Natural gas consists largely of the hydrocarbon methane, and is found in underground formations either by itself or with crude oil. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Revenue from sale of residue oil and condensate, which normally exists in the reservoir as gas but condenses out as a liquid during production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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. No definition available.
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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/presentationRef
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- References No definition available.
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- Definition All taxes not related to income of the entity or excise or sales taxes levied on the revenue of the entity that are not reported elsewhere. These taxes could include production, real estate, personal property, and pump tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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