Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.21.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Revenues:    
Total operating revenues $ 359,881 $ 289,919
Operating Expenses:    
Lease operating 40,453 52,383
Production and ad valorem taxes 18,439 19,680
Gathering, transportation and processing 17,981 14,378
Depreciation, depletion and amortization 70,987 131,463
General and administrative 16,799 8,325
Merger and integration 0 15,830
Other operating 929 0
Total operating expenses 206,505 242,059
Income From Operations 153,376 47,860
Other (Income) Expenses:    
Interest expense, net of capitalized amounts 24,416 20,478
(Gain) loss on derivative contracts 214,523 (251,969)
Other (income) expense (4,235) (1,262)
Total other (income) expense 234,704 (232,753)
Income (Loss) Before Income Taxes (81,328) 280,613
Income tax benefit (expense) 921 (64,048)
Net Income (Loss) $ (80,407) $ 216,565
Net Income (Loss) Per Common Share    
Basic (in dollars per share) [1] $ (1.89) $ 5.46
Diluted (in dollars per share) [1] $ (1.89) $ 5.46
Weighted Average Common Shares Outstanding    
Basic (in shares) [1] 42,590 39,667
Diluted (in shares) [1] 42,590 39,684
Oil    
Operating Revenues:    
Total operating revenues $ 267,045 $ 265,767
Natural gas    
Operating Revenues:    
Total operating revenues 24,220 6,029
Natural gas liquids    
Operating Revenues:    
Total operating revenues 29,357 18,123
Purchased oil and gas    
Operating Revenues:    
Total operating revenues 39,259 0
Operating Expenses:    
Cost of purchased oil and gas $ 40,917 $ 0
[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 10 - Stockholders’ Equity” for additional information.