XML 20 R4.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($)
shares in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Operating net revenues:        
Oil and gas sales $ 156,035,000 $ 36,192,000 $ 230,194,000 $ 96,597,000
Operating expenses:        
Lease operating expense 11,358,000 5,795,000 17,089,000 11,494,000
Severance and ad valorem taxes 9,813,000 3,478,000 14,417,000 8,651,000
Exploration 3,547,000 112,000 3,643,000 485,000
Depreciation, depletion, and amortization 35,006,000 22,283,000 53,829,000 43,867,000
Abandonment and impairment of unproved properties 2,215,000 309,000 2,215,000 30,366,000
Unused commitments 4,328,000 0 4,328,000 0
Bad debt expense 0 0 0 576,000
Merger transaction costs 18,246,000 21,000 21,541,000 21,000
General and administrative expense (including $2,195, $1,474, $3,807, and $2,713 respectively, of stock-based compensation) 12,144,000 8,385,000 21,395,000 17,814,000
Total operating expenses 114,624,000 47,448,000 165,296,000 127,834,000
Other income (expense):        
Derivative gain (loss) (73,970,000) (25,146,000) (97,389,000) 75,273,000
Interest expense, net (3,241,000) (984,000) (3,660,000) (1,201,000)
Loss on property transactions, net 0 (1,398,000) 0 (1,398,000)
Other income (expense) 89,000 (118,000) 277,000 (1,788,000)
Total other income (expense) (77,122,000) (27,646,000) (100,772,000) 70,886,000
Income (loss) from operations before taxes (35,711,000) (38,902,000) (35,874,000) 39,649,000
Income tax benefit 10,392,000 0 10,436,000 0
Net income (loss) (25,319,000) (38,902,000) (25,438,000) 39,649,000
Comprehensive income (loss) $ (25,319,000) $ (38,902,000) $ (25,438,000) $ 39,649,000
Net income (loss) per common share:        
Basic (in dollars per share) $ (0.83) $ (1.87) $ (0.99) $ 1.91
Diluted (in dollars per share) $ (0.83) $ (1.87) $ (0.99) $ 1.91
Weighted-average common shares outstanding:        
Basic (in shares) 30,655 20,776 25,774 20,713
Diluted (in shares) 30,655 20,776 25,774 20,759
Midstream operating expense        
Operating expenses:        
Operating expenses $ 4,246,000 $ 3,354,000 $ 8,151,000 $ 7,368,000
Gathering, transportation, and processing        
Operating expenses:        
Operating expenses $ 13,721,000 $ 3,711,000 $ 18,688,000 $ 7,192,000