Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED)

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CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUES        
Oil and Gas Sales $ 49,779,903 $ 119,191,594 $ 163,298,384 $ 337,149,610
Gain on Derivative Instruments, Net 51,366,762 61,583,301 54,818,997 349,335
Other Revenue 9,887 2,594 27,004 5,863
Total Revenues 101,156,552 180,777,489 218,144,385 337,504,808
OPERATING EXPENSES        
Production Expenses 12,567,423 14,717,257 40,331,314 39,428,008
Production Taxes 5,048,227 12,068,494 17,333,123 34,073,083
General and Administrative Expense 4,614,771 4,698,972 13,224,012 12,677,481
Depletion, Depreciation, Amortization and Accretion 31,670,479 45,646,232 113,629,323 123,959,402
Impairment of Oil and Natural Gas Properties 354,422,654 0 996,815,713 0
Total Expenses 408,323,554 77,130,955 1,181,333,485 210,137,974
INCOME (LOSS) FROM OPERATIONS (307,167,002) 103,646,534 (963,189,100) 127,366,834
OTHER INCOME (EXPENSE)        
Interest Expense, Net of Capitalization (16,154,160) (10,624,246) (42,278,400) (30,850,004)
Other Income (Expense) 1,586 13,022 2,128 45,794
Total Other Income (Expense) (16,152,574) (10,611,224) (42,276,272) (30,804,210)
INCOME (LOSS) BEFORE INCOME TAXES (323,319,576) 93,035,310 (1,005,465,372) 96,562,624
INCOME TAX PROVISION (BENEFIT) (77,544) 35,050,000 (202,424,154) 36,400,000
NET INCOME (LOSS) $ (323,242,032) $ 57,985,310 $ (803,041,218) $ 60,162,624
Net Income (Loss) Per Common Share - Basic (in dollars per share) $ (5.33) $ 0.96 $ (13.25) $ 0.99
Net Income (Loss) Per Common Share - Diluted (in dollars per share) $ (5.33) $ 0.95 $ (13.25) $ 0.99
Weighted Average Shares Outstanding - Basic (in shares) 60,679,257 60,559,827 60,627,142 60,753,752
Weighted Average Shares Outstanding - Diluted (in shares) 60,679,257 60,736,502 60,627,142 60,950,641