Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.20.4
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
REVENUES:      
Net gain (loss) on natural gas, oil, and NGL derivatives $ 65,291,000 $ 208,360,000 $ (123,479,000)
Total Revenues 866,542,000 1,563,126,000 1,551,701,000
OPERATING EXPENSES:      
Lease operating expenses 54,235,000 73,496,000 79,716,000
Taxes other than income 28,509,000 40,510,000 48,298,000
Midstream gathering and processing expenses 456,318,000 508,843,000 486,845,000
Depreciation, depletion and amortization 239,744,000 550,108,000 486,664,000
Impairment of oil and natural gas properties 1,357,099,000 2,039,770,000 0
General and administrative expenses 59,329,000 45,542,000 47,100,000
Restructuring and liability management expenses 30,847,000 4,611,000 0
Accretion expense 3,066,000 3,939,000 4,119,000
Total Operating Expenses 2,229,147,000 3,266,819,000 1,152,742,000
(LOSS) INCOME FROM OPERATIONS (1,362,605,000) (1,703,693,000) 398,959,000
OTHER EXPENSE (INCOME):      
Interest expense 120,079,000 141,786,000 141,912,000
Interest income (414,000) (801,000) (314,000)
Gain on debt extinguishment (49,579,000) (48,630,000) 0
Gain on sale of equity method investments 0 0 (124,768,000)
Loss (income) from equity method investments, net 11,055,000 210,148,000 (49,904,000)
Reorganization items, net 152,359,000 0 0
Other expense, net 21,738,000 3,725,000 1,542,000
Total Other Expense (Income) 255,238,000 306,228,000 (31,532,000)
(LOSS) INCOME BEFORE INCOME TAXES (1,617,843,000) (2,009,921,000) 430,491,000
INCOME TAX EXPENSE (BENEFIT) 7,290,000 (7,563,000) (69,000)
NET (LOSS) INCOME $ (1,625,133,000) $ (2,002,358,000) $ 430,560,000
NET (LOSS) INCOME PER COMMON SHARE:      
Basic (in dollars per share) $ (10.14) $ (12.49) $ 2.46
Diluted (in dollars per share) $ (10.14) $ (12.49) $ 2.45
Weighted average common shares outstanding - Basic (shares) 160,231,335 160,341,125 174,675,840
Weighted average common shares outstanding - Diluted (shares) 160,231,335 160,341,125 175,398,706
Natural gas sales      
REVENUES:      
Revenue from contracts with customers $ 671,535,000 $ 1,135,381,000 $ 1,318,472,000
Oil and condensate sales      
REVENUES:      
Revenue from contracts with customers 62,902,000 117,937,000 177,793,000
Natural gas liquid sales      
REVENUES:      
Revenue from contracts with customers $ 66,814,000 $ 101,448,000 $ 178,915,000