v3.19.2
CONDENSED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUES        
Gain (Loss) on Derivative Instruments, Net $ 36,591 $ (42,203) $ (103,031) $ (62,474)
Total Revenues 186,440 66,846 179,506 133,459
OPERATING EXPENSES        
Production Expenses 26,132 14,549 50,799 27,037
Production Taxes 14,034 10,132 26,553 18,054
General and Administrative Expense 5,250 3,251 11,300 4,918
Depletion, Depreciation, Amortization and Accretion 46,091 22,596 91,225 41,227
Impairment of Other Current Assets 2,694 0 2,694 0
Total Operating Expenses 94,200 50,528 182,571 91,236
INCOME (LOSS) FROM OPERATIONS 92,239 16,318 (3,065) 42,223
OTHER INCOME (EXPENSE)        
Interest Expense, Net of Capitalization (17,778) (22,403) (37,327) (45,510)
Loss on the Extinguishment of Debt (425) (90,833) (425) (90,833)
Debt Exchange Derivative Gain/(Loss) (4,873) 0 1,413 0
Contingent Consideration Loss (24,763) 0 (23,371) 0
Other Income (Expense) (1) 371 14 538
Total Other Income (Expense) (47,840) (112,865) (59,696) (135,805)
INCOME (LOSS) BEFORE INCOME TAXES 44,399 (96,547) (62,762) (93,582)
INCOME TAX PROVISION (BENEFIT) 0 0 0 0
NET INCOME (LOSS) $ 44,399 $ (96,547) $ (62,762) $ (93,582)
Net Income (Loss) Per Common Share - Basic (in dollars per share) $ 0.12 $ (0.49) $ (0.17) $ (0.71)
Net Income (Loss) Per Common Share - Diluted (in dollars per share) $ 0.12 $ (0.49) $ (0.17) $ (0.71)
Weighted Average Shares Outstanding - Basic (in shares) 378,368,462 196,140,610 374,927,630 131,039,552
Weighted Average Shares Outstanding - Diluted (in shares) 378,724,511 196,140,610 374,927,630 131,039,552
Oil and Gas Sales        
REVENUES        
Revenue $ 149,847 $ 109,047 $ 282,530 $ 195,928
Other Revenue        
REVENUES        
Revenue $ 2 $ 2 $ 7 $ 5

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