Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

v3.22.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 5 Months Ended 7 Months Ended 12 Months Ended
May 17, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
REVENUES:        
Net (loss) gain on natural gas, oil and NGL derivatives $ (137,239) $ (556,819) $ 65,291 $ 208,360
Total Revenues 273,037 535,765 866,542 1,563,126
OPERATING EXPENSES:        
Lease operating expenses 19,524 32,172 54,235 73,496
Taxes other than income 12,349 30,243 28,509 40,510
Transportation, gathering, processing and compression 161,086 212,013 456,318 508,843
Depreciation, depletion and amortization 62,764 160,913 239,744 550,108
Impairment of oil and natural gas properties 0 117,813 1,357,099 2,039,770
Impairment of other property and equipment 14,568 0 0 0
General and administrative expenses 19,175 34,465 59,329 45,542
Restructuring and liability management expenses 0 2,858 30,847 4,611
Accretion expense 1,229 1,214 3,066 3,939
Total Operating Expenses 290,695 591,691 2,229,147 3,266,819
INCOME (LOSS) FROM OPERATIONS (17,658) (55,926) (1,362,605) (1,703,693)
OTHER EXPENSE (INCOME):        
Interest expense 4,159 40,853 120,079 141,786
Loss (Gain) on debt extinguishment 0 3,040 (49,579) (48,630)
Loss from equity method investments, net 342 0 11,055 210,148
Reorganization items, net (266,898) 0 152,359 0
Other expense 1,713 13,049 21,324 2,924
Total Other Expense (260,684) 56,942 255,238 306,228
INCOME (LOSS) BEFORE INCOME TAXES 243,026 (112,868) (1,617,843) (2,009,921)
Income Tax (Benefit) Expense (7,968) (39) 7,290 (7,563)
NET (LOSS) INCOME 250,994 (112,829) (1,625,133) (2,002,358)
Dividends on New Preferred Stock 0 (4,573) 0 0
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 250,994 $ (117,402) $ (1,625,133) $ (2,002,358)
NET (LOSS) INCOME PER COMMON SHARE:        
Basic (in dollars per share) $ 1.56 $ (5.71) $ (10.14) $ (12.49)
Diluted (in dollars per share) $ 1.56 $ (5.71) $ (10.14) $ (12.49)
Weighted average common shares outstanding - Basic (shares) 160,834,000 20,545,000 160,231,000 160,341,000
Weighted average common shares outstanding - Diluted (shares) 160,834,000 20,545,000 160,231,000 160,341,000
Natural gas sales        
REVENUES:        
Revenue from contracts with customers $ 344,390 $ 906,096 $ 671,535 $ 1,135,381
Oil and condensate sales        
REVENUES:        
Revenue from contracts with customers 29,106 81,347 62,902 117,937
Natural gas liquid sales        
REVENUES:        
Revenue from contracts with customers $ 36,780 $ 105,141 $ 66,814 $ 101,448