XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Total Revenues $ 99,912 $ 88,381 $ 166,924 $ 155,626
Costs and Expenses:        
Lease operating expenses 17,514 8,062 26,389 14,892
Production and ad valorem taxes 7,221 5,526 11,331 9,028
Exploration costs 80 22 412 1,520
Depletion, depreciation, amortization and accretion 18,601 7,188 27,684 13,821
General and administrative:        
Administrative costs 6,500 4,399 11,967 8,413
Share-based compensation expense 1,225 553 2,339 1,570
Transaction costs 3,652 0 5,539 2,638
Total Costs and Expenses 54,902 25,839 85,880 52,056
Income From Operations 45,010 62,542 81,044 103,570
Other Income (Expense):        
Interest expense, net (10,161) (697) (11,177) (1,375)
Gain (loss) on derivatives 8,665 (12,363) 14,420 (61,995)
Loss from equity method investment (4) 0 (236) 0
Total Other Income (Expense) (1,500) (13,060) 3,007 (63,370)
Net Income From Operations Before Income Taxes 43,510 49,482 84,051 40,200
Income tax expense (10,442) (10,927) (19,132) (8,813)
Net Income $ 33,068 $ 38,555 $ 64,919 $ 31,387
Net Income per Share:        
Basic (USD per Share) $ 1.68 $ 1.97 $ 3.30 $ 1.61
Diluted (USD per Share) $ 1.65 $ 1.96 $ 3.25 $ 1.60
Weighted Average Common Shares Outstanding:        
Basic (in Shares) 19,671 19,542 19,660 19,521
Diluted (in Shares) 19,985 19,660 19,951 19,646
Related Party        
General and administrative:        
Cost of contract services - related parties $ 109 $ 89 $ 219 $ 174
Oil and natural gas sales, net        
Revenues:        
Total Revenues 99,312 87,781 165,724 154,426
Contract services - related parties        
Revenues:        
Total Revenues $ 600 $ 600 $ 1,200 $ 1,200