Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.20.4
Consolidated Statements of Operations - USD ($)
shares in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Revenues:      
Total operating revenues $ 1,033,147,000 $ 671,572,000 $ 587,624,000
Operating Expenses:      
Lease operating 194,101,000 91,827,000 69,180,000
Production and ad valorem taxes 62,638,000 42,651,000 35,755,000
Gathering, transportation and processing 77,309,000 0 0
Depreciation, depletion and amortization 480,631,000 240,642,000 182,783,000
General and administrative 37,187,000 45,331,000 35,293,000
Impairment of evaluated oil and gas properties 2,547,241,000 0 0
Merger and integration expenses 28,482,000 74,363,000 0
Other operating 10,644,000 4,100,000 5,083,000
Total operating expenses 3,489,999,000 498,914,000 328,094,000
Income (Loss) From Operations (2,456,852,000) 172,658,000 259,530,000
Other (Income) Expenses:      
Interest expense, net of capitalized amounts 94,329,000 2,907,000 2,500,000
(Gain) loss on derivative contracts 27,773,000 62,109,000 (48,544,000)
(Gain) loss on extinguishment of debt (170,370,000) 4,881,000 0
Other (income) expense 2,983,000 (468,000) (2,896,000)
Total other (income) expense (45,285,000) 69,429,000 (48,940,000)
Income (Loss) Before Income Taxes (2,411,567,000) 103,229,000 308,470,000
Income tax expense (122,054,000) (35,301,000) (8,110,000)
Net Income (Loss) (2,533,621,000) 67,928,000 300,360,000
Preferred stock dividends 0 (3,997,000) (7,295,000)
Loss on redemption of preferred stock 0 (8,304,000) 0
Income (Loss) Available to Common Stockholders $ (2,533,621,000) $ 55,627,000 $ 293,065,000
Income (Loss) Available to Common Stockholders Per Common Share      
Basic (in dollars per share) [1] $ (63.79) $ 2.39 $ 13.50
Diluted (in dollars per share) [1] $ (63.79) $ 2.38 $ 13.46
Weighted Average Common Shares Outstanding      
Basic (in shares) [2] 39,718 23,313 21,703
Diluted (in shares) [2] 39,718 23,340 21,773
Oil      
Operating Revenues:      
Total operating revenues $ 850,667,000 $ 633,107,000 $ 530,898,000
Natural gas liquids      
Operating Revenues:      
Total operating revenues 81,295,000 2,075,000 0
Sales of purchased oil and gas      
Operating Revenues:      
Total operating revenues 49,319,000 0 0
Operating Expenses:      
Cost of goods and services sold 51,766,000 0 0
Commodity - Natural gas      
Operating Revenues:      
Total operating revenues $ 51,866,000 $ 36,390,000 $ 56,726,000
[1] All share and per share amounts have been retroactively adjusted for the Company’s 1-for-10 reverse stock split effective August 7, 2020. See “Note 11 – Stockholders’ Equity” for additional information.
[2] All share amounts (except par value) have been retroactively adjusted for the Company’s 1-for-10 reverse stock split effective August 7, 2020. See “Note 11 – Stockholders’ Equity” for additional information.