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, 2024
Mar. 31, 2023
REVENUES:    
Net gain on natural gas, oil and NGL derivatives $ 45,136 $ 378,061
Total revenues 283,229 731,221
OPERATING EXPENSES:    
Lease operating expenses 16,808 19,862
Taxes other than income 8,260 10,695
Transportation, gathering, processing and compression 86,619 87,617
Depletion, depreciation and amortization 80,023 79,094
General and administrative expenses 9,198 8,733
Restructuring costs 0 1,869
Accretion expense 555 764
Total operating expenses 201,463 208,634
INCOME FROM OPERATIONS 81,766 522,587
OTHER EXPENSE (INCOME):    
Interest expense 15,003 13,756
Other, net (125) (14,223)
Total other expense (income) 14,878 (467)
INCOME BEFORE INCOME TAXES 66,888 523,054
INCOME TAX EXPENSE:    
Current 0 0
Deferred 14,853 0
Total income tax expense 14,853 0
NET INCOME 52,035 523,054
Dividends on preferred stock (1,105) (1,307)
Participating securities - preferred stock (7,532) (86,221)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 43,398 $ 435,526
NET INCOME PER COMMON SHARE:    
Basic (in usd per share) $ 2.39 $ 23.08
Diluted (in usd per share) $ 2.34 $ 22.90
Weighted average common shares outstanding - basic (in shares) 18,193 18,868
Weighted average common shares outstanding - diluted (in shares) 18,604 19,049
Natural gas sales    
REVENUES:    
Revenue from contract with customer $ 188,286 $ 282,534
Oil and condensate sales    
REVENUES:    
Revenue from contract with customer 21,701 30,714
Natural gas liquid sales    
REVENUES:    
Revenue from contract with customer $ 28,106 $ 39,912