Quarterly report pursuant to Section 13 or 15(d)

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.19.2
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]  
Reconciliation of denominators used to calculate basic and diluted EPS The reconciliation of the denominators used to calculate basic EPS and diluted EPS for the three and six months ended June 30, 2019 and 2018 are as follows:
  Three Months Ended
June 30,
Six Months Ended
June 30,
(In thousands, except share and per share data) 2019 2018 2019 2018
Net Income (Loss) $ 44,399  $ (96,547) $ (62,762) $ (93,582)
Weighted Average Common Shares Outstanding:
Weighted Average Common Shares Outstanding – Basic 378,368,462  196,140,610  374,927,630  131,039,552 
Plus: Potentially Dilutive Common Shares Including Stock Options and Restricted Stock 356,049  —  —  — 
Weighted Average Common Shares Outstanding – Diluted 378,724,511  196,140,610  374,927,630  131,039,552 
Net Income (Loss) per Common Share:
Basic $ 0.12  $ (0.49) $ (0.17) $ (0.71)
Diluted $ 0.12  $ (0.49) $ (0.17) $ (0.71)
Shares underlying Restricted Stock Awards and Stock Options Excluded from EPS Due to Anti-Dilutive Effect 20,812  367,329  825,184  301,675 
Supplemental cash flow activity
The following reflects the Company’s supplemental cash flow information:
Six Months Ended June 30,
(In thousands) 2019 2018
Supplemental Cash Items:
Cash Paid During the Period for Interest $ 34,403  $ 35,064 
Non-cash Investing Activities:
Oil and Natural Gas Properties Included in Accounts Payable and Accrued Liabilities 151,145  80,097 
Capitalized Asset Retirement Obligations 470  593 
Compensation Capitalized on Oil and Gas Properties 190  107 
Issuance of Common Stock - Acquisitions of Oil and Natural Gas Properties —  15,240 
Non-cash Financing Activities:
Exchange transactions - non-cash securities issued:
Issuance of 8.50% Second Lien Notes due 2023
—  344,279 
Issuance of Common Stock - fair value at issuance date —  279,314 
Issuance of 8.50% Second Lien Notes due 2023 - PIK Interest
3,480  — 
Debt Exchange Derivative Liability Settlements 12,192  — 
Contingent Consideration Settlements 21,462  — 
Exchange Transactions - non-cash securities exchanged:
8.00% Unsecured Senior Notes due 2020 - carrying value
—  (543,683)