Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
REVENUES:      
Net gain (loss) on natural gas, oil and NGL derivatives $ 29,527,000 $ 740,319,000 $ (999,747,000)
Total revenues 958,131,000 1,791,702,000 1,331,112,000
OPERATING EXPENSES:      
Lease operating expenses 70,112,000 68,648,000 64,790,000
Taxes other than income 29,737,000 33,717,000 60,139,000
Transportation, gathering, processing and compression 351,237,000 348,631,000 357,246,000
Depreciation, depletion and amortization 325,723,000 319,715,000 267,761,000
Impairment of oil and natural gas properties 373,214,000 0 0
General and administrative expenses 42,558,000 38,600,000 35,304,000
Restructuring costs 0 4,762,000 0
Accretion expense 2,307,000 2,782,000 2,746,000
Total operating expenses 1,194,888,000 816,855,000 787,986,000
(LOSS) INCOME FROM OPERATIONS (236,757,000) 974,847,000 543,126,000
OTHER EXPENSE (INCOME):      
Interest expense 59,982,000 57,069,000 59,773,000
Loss on debt extinguishment 13,388,000 0 0
Other, net 7,336,000 (27,982,000) (11,348,000)
Total other expense 80,706,000 29,087,000 48,425,000
(LOSS) INCOME BEFORE INCOME TAXES (317,463,000) 945,760,000 494,701,000
INCOME TAX BENEFIT:      
Current 0 0 0
Deferred (56,077,000) (525,156,000) 0
Total income tax benefit (56,077,000) (525,156,000) 0
NET (LOSS) INCOME (261,386,000) 1,470,916,000 494,701,000
Dividends on preferred stock (4,230,000) (4,840,000) (5,444,000)
Participating securities - preferred stock 0 (212,360,000) (76,401,000)
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (265,616,000) $ 1,253,716,000 $ 412,856,000
NET (LOSS) INCOME PER COMMON SHARE:      
Basic (in dollars per share) $ (14.72) $ 67.24 $ 20.45
Diluted (in dollars per share) $ (14.72) $ 66.46 $ 20.32
Weighted average common shares outstanding - Basic (shares) 18,050 18,645 20,185
Weighted average common shares outstanding - Diluted (shares) 18,050 18,902 20,347
Natural gas sales      
REVENUES:      
Revenue from contracts with customers $ 714,160,000 $ 831,812,000 $ 1,998,452,000
Oil and condensate sales      
REVENUES:      
Revenue from contracts with customers 101,589,000 99,854,000 147,444,000
Natural gas liquid sales      
REVENUES:      
Revenue from contracts with customers $ 112,855,000 $ 119,717,000 $ 184,963,000