Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF OPERATIONS

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CONDENSED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
REVENUES        
Gain (Loss) on Derivative Instruments, Net $ 75,892 $ (43,148) $ (27,139) $ (105,622)
Total Revenues 233,883 102,269 413,389 235,729
OPERATING EXPENSES        
Production Expenses 32,347 18,161 83,146 45,198
Production Taxes 15,391 13,579 41,944 31,633
General and Administrative Expense 4,206 4,674 15,506 9,593
Depletion, Depreciation, Amortization and Accretion 55,566 30,258 146,791 71,485
Impairment of Other Current Assets 5,275 0 7,969 0
Total Operating Expenses 112,784 66,673 295,355 157,909
INCOME FROM OPERATIONS 121,100 35,597 118,034 77,820
OTHER INCOME (EXPENSE)        
Interest Expense, Net of Capitalization (21,510) (20,438) (58,836) (65,948)
Loss on the Extinguishment of Debt 0 (9,542) (425) (100,375)
Debt Exchange Derivative Gain/(Loss) (23) 13,063 1,390 13,063
Contingent Consideration Loss (5,262) 0 (28,633) 0
Other Income (Expense) 75 299 88 838
Total Other Income (Expense) (26,719) (16,618) (86,416) (152,423)
INCOME (LOSS) BEFORE INCOME TAXES 94,381 18,979 31,619 (74,603)
INCOME TAX PROVISION (BENEFIT) 0 0 0 0
NET INCOME (LOSS) $ 94,381 $ 18,979 $ 31,619 $ (74,603)
Net Income (Loss) Per Common Share - Basic (in dollars per share) $ 0.24 $ 0.06 $ 0.08 $ (0.40)
Net Income (Loss) Per Common Share - Diluted (in dollars per share) $ 0.24 $ 0.06 $ 0.08 $ (0.40)
Weighted Average Shares Outstanding - Basic (in shares) 396,044,887 300,517,497 382,044,068 188,152,998
Weighted Average Shares Outstanding - Diluted (in shares) 396,530,767 301,755,419 382,744,304 188,152,998
Oil and Gas Sales        
REVENUES        
Revenue $ 157,989 $ 145,416 $ 440,519 $ 341,343
Other Revenue        
REVENUES        
Revenue $ 3 $ 2 $ 10 $ 5