v3.19.1
STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
REVENUES      
Gain (Loss) on Derivative Instruments, Net $ 185,006,169 $ (14,666,655) $ (14,818,734)
Total Revenues 678,924,496 209,319,669 144,903,496
OPERATING EXPENSES      
Production Expenses 66,646,080 49,732,861 45,680,110
Production Taxes 45,301,892 20,604,256 15,513,608
General and Administrative Expense 14,568,362 18,987,801 14,757,641
Depletion, Depreciation, Amortization and Accretion 119,779,675 59,500,155 61,244,158
Impairment of Oil and Natural Gas Properties 0 0 237,012,834
Total Expenses 246,296,009 148,825,073 374,208,351
INCOME (LOSS) FROM OPERATIONS 432,628,487 60,494,596 (229,304,855)
OTHER INCOME (EXPENSE)      
Interest Expense, Net of Capitalization (86,005,183) (70,286,341) (64,485,623)
Write-off of Debt Issuance Costs 0 (95,135) (1,089,507)
Loss on the Extinguishment of Debt (173,430,042) (992,950) 0
Debt Exchange Derivative Loss (598,124) 0 0
Contingent Consideration Loss (28,968,176) 0 0
Financing Expense (883,698) 0 0
Other Income (Expense) 890,971 116,042 (15,902)
Total Other Income (Expense) (288,994,252) (71,258,384) (65,591,032)
INCOME (LOSS) BEFORE INCOME TAXES 143,634,235 (10,763,788) (294,895,887)
INCOME TAX BENEFIT (55,000) (1,570,016) (1,402,179)
NET INCOME (LOSS) $ 143,689,235 $ (9,193,772) $ (293,493,708)
Net Income (Loss) Per Common Share - Basic (in dollars per share) $ 0.61 $ (0.15) $ (4.80)
Net Income (Loss) Per Common Share - Diluted (in dollars per share) $ 0.61 $ (0.15) $ (4.80)
Weighted Average Shares Outstanding - Basic (in shares) 236,206,457 62,408,855 61,173,547
Weighted Average Shares Outstanding - Diluted (in shares) 236,773,911 62,408,855 61,173,547
Oil and Gas Sales      
REVENUES      
Revenues $ 493,909,268 $ 223,963,010 $ 159,690,883
Other Revenue      
REVENUES      
Revenues $ 9,059 $ 23,314 $ 31,347

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