XML 16 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Total revenues $ 1,188,843 $ 368,977 $ 2,631,192 $ 1,058,350
Operating expenses        
Lease operating expenses 156,397 44,889 287,195 146,373
Gathering, processing and transportation expenses 35,549 30,028 99,759 90,920
Production taxes 83,535 18,445 159,473 50,933
Depreciation, depletion and amortization 141,047 23,975 227,856 83,976
General and administrative expenses 102,226 20,088 151,415 61,500
Total operating expenses 652,289 223,542 1,473,829 711,479
Gain on sale of assets 755 5,405 2,595 228,473
Operating income 537,309 150,840 1,159,958 575,344
Other income (expense)        
Net gain (loss) on derivative instruments 337,409 (101,790) (128,766) (550,342)
Net gain from investment in unconsolidated affiliate 75,093 0 38,977 0
Interest expense, net of capitalized interest (8,645) (7,156) (22,810) (23,444)
Other income (expense) (864) (139) 2,186 (793)
Total other income (expense), net 402,993 (109,085) (110,413) (574,579)
Income from continuing operations before income taxes 940,302 41,755 1,049,545 765
Income tax benefit 1,307 0 3,352 0
Net income from continuing operations 941,609 41,755 1,052,897 765
Income (loss) from discontinued operations attributable to Chord, net of income tax (59,858) 30,195 425,696 100,957
Net income attributable to Chord $ 881,751 $ 71,950 $ 1,478,593 $ 101,722
Basic earnings attributable to Chord per share:        
Basic from continuing operations (in dollars per share) $ 22.79 $ 2.11 $ 39.28 $ 0.04
Basic from discontinued operations (in dollars per share) (1.45) 1.52 15.88 5.07
Basic total (Note 18) (in dollars per share) 21.34 3.63 55.16 5.11
Diluted earnings attributable to Chord per share:        
Diluted from continuing operations (in dollars per share) 21.84 2.01 37.02 0.04
Diluted from discontinued operations (in dollars per share) (1.39) 1.45 14.97 4.92
Diluted total (Note 18) (in dollars per share) $ 20.45 $ 3.46 $ 51.99 $ 4.96
Weighted average shares outstanding:        
Basic (Note 18) (in shares) 41,318 19,812 26,806 19,905
Diluted (Note 18) (in shares) 43,107 20,786 28,438 20,508
Oil and Gas Services        
Revenues        
Total revenues $ 1,056,146 $ 281,474 $ 2,088,215 $ 781,459
Operating expenses        
Exploration and impairment 910 263 1,698 1,941
Purchased Oil and Gas        
Revenues        
Total revenues 132,697 87,382 542,653 276,349
Operating expenses        
Expenses 132,625 85,828 546,310 275,789
Other services revenues        
Revenues        
Total revenues 0 121 324 542
Operating expenses        
Expenses $ 0 $ 26 $ 123 $ 47