Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

v3.21.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
REVENUES:    
Net (loss) gain on natural gas, oil and NGL derivatives $ (29,978,000) $ 98,266,000
Total Revenues 247,358,000 299,338,000
OPERATING EXPENSES:    
Lease operating expenses 12,653,000 14,695,000
Taxes other than income 8,704,000 6,637,000
Transportation, gathering, processing and compression 105,867,000 110,357,000
Depreciation, depletion and amortization 41,147,000 78,028,000
Impairment of oil and natural gas properties 0 553,345,000
Impairment of other property and equipment 14,568,000 0
General and administrative expenses 12,757,000 15,622,000
Accretion expense 805,000 741,000
Total Operating Expenses 196,501,000 779,425,000
INCOME (LOSS) FROM OPERATIONS 50,857,000 (480,087,000)
OTHER EXPENSE (INCOME):    
Interest expense 3,261,000 32,990,000
Interest income (143,000) (152,000)
Gain on debt extinguishment 0 (15,322,000)
Loss from equity method investments, net 342,000 10,789,000
Reorganization items, net 38,721,000 0
Other expense (104,000) 1,856,000
Total Other Expense 42,077,000 30,161,000
INCOME (LOSS) BEFORE INCOME TAXES 8,780,000 (510,248,000)
Income Tax Expense 0 7,290,000
NET INCOME (LOSS) $ 8,780,000 $ (517,538,000)
NET INCOME (LOSS) PER COMMON SHARE:    
Basic (in usd per share) $ 0.05 $ (3.24)
Diluted (in usd per share) $ 0.05 $ (3.24)
Weighted average common shares outstanding - Basic (in shares) 160,812,935 159,760,222
Weighted average common shares outstanding - Diluted (in shares) 160,812,935 159,760,222
Natural gas sales    
REVENUES:    
Revenue from contract with customer $ 235,321,000 $ 161,008,000
Oil and condensate sales    
REVENUES:    
Revenue from contract with customer 18,239,000 23,151,000
Natural gas liquid sales    
REVENUES:    
Revenue from contract with customer $ 23,776,000 $ 16,913,000