Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES:        
Net gain on natural gas, oil and NGL derivatives $ 26,971,000 $ 171,140,000 $ 125,237,000 $ 151,095,000
Total Revenues 132,410,000 458,994,000 379,287,000 779,572,000
OPERATING EXPENSES:        
Lease operating expenses 15,686,000 22,388,000 31,672,000 42,195,000
Production taxes 3,605,000 8,098,000 8,404,000 16,019,000
Midstream gathering and processing expenses 59,974,000 72,015,000 117,870,000 142,297,000
Depreciation, depletion and amortization 64,790,000 124,951,000 142,818,000 243,384,000
Impairment of oil and natural gas properties 532,880,000 0 1,086,225,000 0
General and administrative expenses 10,470,000 11,727,000 26,639,000 21,784,000
Accretion expense 755,000 1,359,000 1,496,000 2,426,000
Total Operating Expenses 688,160,000 240,538,000 1,415,124,000 468,105,000
(LOSS) INCOME FROM OPERATIONS (555,750,000) 218,456,000 (1,035,837,000) 311,467,000
OTHER EXPENSE (INCOME):        
Interest expense 32,366,000 36,418,000 65,356,000 72,039,000
Interest income (78,000) (159,000) (230,000) (311,000)
Gain on debt extinguishment (34,257,000) 0 (49,579,000) 0
Loss from equity method investments, net 45,000 125,582,000 10,834,000 121,309,000
Other expense 7,242,000 990,000 9,098,000 563,000
Total Other Expense 5,318,000 162,831,000 35,479,000 193,600,000
(LOSS) INCOME BEFORE INCOME TAXES (561,068,000) 55,625,000 (1,071,316,000) 117,867,000
Income Tax Expense (Benefit) 0 (179,331,000) 7,290,000 (179,331,000)
NET (LOSS) INCOME $ (561,068,000) $ 234,956,000 $ (1,078,606,000) $ 297,198,000
NET (LOSS) INCOME PER COMMON SHARE:        
Basic (in usd per share) $ (3.51) $ 1.47 $ (6.75) $ 1.85
Diluted (in usd per share) $ (3.51) $ 1.47 $ (6.75) $ 1.84
Weighted average common shares outstanding - Basic (in shares) 159,933,739 159,324,909 159,846,981 161,064,787
Weighted average common shares outstanding - Diluted (in shares) 159,933,739 159,506,826 159,846,981 161,590,087
Natural gas sales        
REVENUES:        
Revenue from contract with customer $ 86,797,000 $ 225,257,000 $ 195,344,000 $ 501,273,000
Oil and condensate sales        
REVENUES:        
Revenue from contract with customer 8,390,000 36,910,000 31,541,000 69,392,000
Natural gas liquid sales        
REVENUES:        
Revenue from contract with customer $ 10,252,000 $ 25,687,000 $ 27,165,000 $ 57,812,000