v3.20.2
Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Operating revenues:        
Total operating revenues $ 157,234,000 $ 167,052,000 $ 447,153,000 $ 320,099,000
Operating Expenses:        
Lease operating 50,838,000 22,776,000 103,221,000 46,843,000
Production and ad valorem taxes 10,361,000 11,131,000 30,041,000 21,944,000
Gathering, transportation and processing 20,037,000 0 34,415,000 0
Depreciation, depletion and amortization 138,930,000 63,137,000 270,393,000 123,145,000
General and administrative 10,024,000 10,564,000 18,349,000 25,341,000
Impairment of evaluated oil and gas properties 1,276,518,000 0 1,276,518,000 0
Merger and integration expenses 8,067,000 0 23,897,000 0
Other operating 4,135,000 935,000 4,135,000 1,092,000
Total operating expenses 1,518,910,000 108,543,000 1,760,969,000 218,365,000
Income (Loss) From Operations (1,361,676,000) 58,509,000 (1,313,816,000) 101,734,000
Other (Income) Expenses:        
Interest expense, net of capitalized amounts 22,682,000 741,000 43,160,000 1,479,000
(Gain) loss on derivative contracts 126,965,000 (14,036,000) (125,004,000) 53,224,000
Other (income) expense 2,157,000 (67,000) 895,000 (148,000)
Total other (income) expense 151,804,000 (13,362,000) (80,949,000) 54,555,000
Income (Loss) Before Income Taxes (1,513,480,000) 71,871,000 (1,232,867,000) 47,179,000
Income tax expense (51,251,000) (16,691,000) (115,299,000) (11,542,000)
Net Income (Loss) (1,564,731,000) 55,180,000 (1,348,166,000) 35,637,000
Preferred stock dividends 0 (1,823,000) 0 (3,647,000)
Income (Loss) Available to Common Stockholders $ (1,564,731,000) $ 53,357,000 $ (1,348,166,000) $ 31,990,000
Income (Loss) Available to Common Stockholders Per Common Share:        
Basic (in dollars per share) $ (3.94) $ 0.23 $ (3.40) $ 0.14
Diluted (in dollars per share) $ (3.94) $ 0.23 $ (3.40) $ 0.14
Weighted Average Common Shares Outstanding:        
Basic (in shares) 397,084 228,051 396,884 227,917
Diluted (in shares) 397,084 228,411 396,884 228,599
Oil        
Operating revenues:        
Total operating revenues $ 130,513,000 $ 160,728,000 $ 396,280,000 $ 301,826,000
Natural gas        
Operating revenues:        
Total operating revenues 12,242,000 6,324,000 18,271,000 18,273,000
Natural gas liquids        
Operating revenues:        
Total operating revenues $ 14,479,000 $ 0 $ 32,602,000 $ 0

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