Annual report pursuant to Section 13 and 15(d)

Acquisitions and Divestitures (Tables)

v3.22.0.1
Acquisitions and Divestitures (Tables)
 12 Months Ended
Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table sets forth the Company’s preliminary allocation of the total estimated consideration of $903.2 million to the assets acquired and liabilities assumed as of the acquisition date.
Preliminary Purchase
Price Allocation
(In thousands)
Assets:
Other current assets $10,213 
Evaluated oil and natural gas properties 677,372 
Unevaluated properties 275,783 
Total assets acquired $963,368 
Liabilities:
Suspense payable $16,447 
Other current liabilities 32,350 
Asset retirement obligation 1,898 
Other long-term liabilities 9,425 
Total liabilities assumed $60,120 
Total consideration $903,248 
Unaudited Summary Pro Forma Financial Information
The pro forma consolidated statements of operations data has been included for comparative purposes only and is not necessarily indicative of the results that might have occurred had the Primexx Acquisition taken place on January 1, 2020 and is not intended to be a projection of future results.
Years Ended December 31,
2021 2020
(In thousands)
Revenues $2,287,012  $1,228,735 
Income (loss) from operations 1,145,995  (3,072,237)
Net income (loss) 477,192  (3,151,443)
Basic earnings per common share $8.28  ($64.65)
Diluted earnings per common share $8.04  ($64.65)
The pro forma consolidated statements of operations data has been included for comparative purposes only and is not necessarily indicative of the results that might have occurred had the Merger taken place on January 1, 2018 and is not intended to be a projection of future results.
Year Ended December 31, 2019
(In thousands)
Revenues $1,620,357 
Income from operations 614,668 
Net income 369,777 
Basic earnings per common share $0.89 
Diluted earnings per common share $0.89