Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands
 1 Months Ended 2 Months Ended 3 Months Ended 5 Months Ended 6 Months Ended
Jun. 30, 2021
May 17, 2021
Jun. 30, 2020
May 17, 2021
Jun. 30, 2020
REVENUES:          
Net (loss) gain on natural gas, oil and NGL derivatives $ (139,658,000) $ (107,261,000) $ 26,971,000 $ (137,239,000) $ 125,237,000
Total Revenues 5,724,000 25,679,000 186,301,000 273,037,000 485,639,000
OPERATING EXPENSES:          
Lease operating expenses 4,116,000 6,871,000 13,078,000 19,524,000 27,773,000
Taxes other than income 5,056,000 3,645,000 6,300,000 12,349,000 12,937,000
Transportation, gathering, processing and compression 41,376,000 55,219,000 113,865,000 161,086,000 224,222,000
Depreciation, depletion and amortization 32,362,000 21,617,000 64,790,000 62,764,000 142,818,000
Impairment of oil and natural gas properties 117,813,000 0 532,880,000 0 1,086,225,000
Impairment of other property and equipment 0     14,568,000 0
General and administrative expenses 6,518,000 6,418,000 9,766,000 19,175,000 25,388,000
Restructuring and liability management expenses 0 0 617,000 0 617,000
Accretion expense 226,000 424,000 755,000 1,229,000 1,496,000
Total Operating Expenses 207,467,000 94,194,000 742,051,000 290,695,000 1,521,476,000
(LOSS) INCOME FROM OPERATIONS (201,743,000) (68,515,000) (555,750,000) (17,658,000) (1,035,837,000)
OTHER EXPENSE (INCOME):          
Interest expense 8,894,000 898,000 32,366,000 4,159,000 65,356,000
Gain on debt extinguishment 0 0 (34,257,000) 0 (49,579,000)
Loss from equity method investments, net 0 0 45,000 342,000 10,834,000
Reorganization items, net 0 (305,617,000) 0 (266,898,000) 0
Other, net (1,051,000) 1,958,000 7,164,000 1,711,000 8,868,000
Total Other Expense (Income) 7,843,000 (302,761,000) 5,318,000 (260,686,000) 35,479,000
(LOSS) INCOME BEFORE INCOME TAXES (209,586,000) 234,246,000 (561,068,000) 243,028,000 (1,071,316,000)
Income tax benefit 0 (7,968,000) 0 (7,968,000) 7,290,000
NET (LOSS) INCOME (209,586,000) 242,214,000 (561,068,000) 250,996,000 (1,078,606,000)
Dividends on New Preferred Stock (1,031,000) 0 0 0 0
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (210,617,000) $ 242,214,000 $ (561,068,000) $ 250,996,000 $ (1,078,606,000)
NET INCOME (LOSS) PER COMMON SHARE:          
Basic (in usd per share) $ (10.36) $ 1.51 $ (3.51) $ 1.56 $ (6.75)
Diluted (in usd per share) $ (10.36) $ 1.51 $ (3.51) $ 1.56 $ (6.75)
Weighted average common shares outstanding - Basic (in shares) 20,321 160,887 159,934 160,834 159,847
Weighted average common shares outstanding - Diluted (in shares) 20,321 160,887 159,934 160,834 159,847
Natural gas sales          
REVENUES:          
Revenue from contract with customer $ 111,718,000 $ 109,069,000 $ 140,688,000 $ 344,390,000 $ 301,696,000
Oil and condensate sales          
REVENUES:          
Revenue from contract with customer 17,587,000 10,867,000 8,390,000 29,106,000 31,541,000
Natural gas liquid sales          
REVENUES:          
Revenue from contract with customer $ 16,077,000 $ 13,004,000 $ 10,252,000 $ 36,780,000 $ 27,165,000