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, $ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
REVENUES:    
Net gain (loss) on natural gas, oil and NGL derivatives $ 378,061 $ (788,551)
Total revenues 731,221 (307,816)
OPERATING EXPENSES:    
Lease operating expenses 19,862 17,644
Taxes other than income 10,695 12,468
Transportation, gathering, processing and compression 87,617 84,792
Depletion, depreciation and amortization 79,094 62,284
General and administrative expenses 8,733 7,105
Restructuring costs 1,869 0
Accretion expense 764 692
Total operating expenses 208,634 184,985
INCOME (LOSS) FROM OPERATIONS 522,587 (492,801)
OTHER (INCOME) EXPENSE:    
Interest expense 13,756 13,984
Other, net (14,223) (14,810)
Total other (income) expense (467) (826)
INCOME (LOSS) BEFORE INCOME TAXES 523,054 (491,975)
Income tax expense 0 0
NET INCOME (LOSS) 523,054 (491,975)
Dividends on preferred stock (1,307) (1,447)
Participating securities - preferred stock (86,221) 0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 435,526 $ (493,422)
NET INCOME (LOSS) PER COMMON SHARE:    
Basic (in usd per share) $ 23.08 $ (23.23)
Diluted (in usd per share) $ 22.90 $ (23.23)
Weighted average common shares outstanding - basic (in shares) 18,868 21,242
Weighted average common shares outstanding - diluted (in shares) 19,049 21,242
Natural gas sales    
REVENUES:    
Revenue from contract with customer $ 282,534 $ 405,212
Oil and condensate sales    
REVENUES:    
Revenue from contract with customer 30,714 30,239
Natural gas liquid sales    
REVENUES:    
Revenue from contract with customer $ 39,912 $ 45,284