Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.3.1.900
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating revenues:      
Total operating revenues $ 137,512 $ 151,862 $ 102,569
Operating expenses:      
Lease operating expenses 27,036 22,372 19,779
Production taxes 9,793 8,973 4,133
Depreciation, depletion and amortization 69,249 56,724 43,967
General and administrative 28,347 25,109 20,534
Accretion expense 660 826 1,785
Write-down of oil and natural gas properties 208,435    
Rig termination fee 3,075    
Gain on sale of other property and equipment   (1,080)  
Impairment of other property and equipment     1,707
Acquisition expense 27 668  
Total operating expenses 346,622 113,592 91,905
Income (loss) from operations (209,110) 38,270 10,664
Other (income) expenses:      
Interest expense 21,111 9,772 6,094
Gain on early extinguishment of debt   (151) (3,696)
(Gain) loss on derivative contracts (28,358) (31,736) 1,360
Other income (198) (515) (485)
Total other (income) expense (7,445) (22,630) 3,273
Income (loss) before income taxes (201,665) 60,900 7,391
Income tax expense 38,474 23,134 3,104
Income (loss) before equity in earnings of Medusa Spar LLC (240,139) 37,766 4,287
Equity in earnings of Medusa Spar LLC     17
Net income (loss) (240,139) 37,766 4,304
Preferred stock dividends (7,895) (7,895) (4,627)
Income (loss) available to common stockholders $ (248,034) $ 29,871 $ (323)
Income (loss) per common share:      
Basic $ (3.77) $ 0.67 $ (0.01)
Diluted $ (3.77) $ 0.65 $ (0.01)
Shares used in computing income (loss) per common share:      
Basic 65,708 44,848 40,133
Diluted [1] 65,708 45,961 40,133
Crude Oil [Member]      
Operating revenues:      
Total operating revenues $ 125,166 $ 139,374 $ 88,960
Natural Gas [Member]      
Operating revenues:      
Total operating revenues $ 12,346 $ 12,488 $ 13,609
[1] Because the Company reported a loss available to common stockholders for the years ended December 31, 2015 and 2013, no unvested stock awards were included in computing loss per share because the effect was anti-dilutive.