| Supplementary Data |
Selected Quarterly Financial Data (unaudited), (dollars in
thousands, except per-share amounts):
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2015 Quarters Ended |
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December 31 |
|
|
September 30 |
|
|
June 30 |
|
|
March 31 |
|
|
Net revenue
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|
$ |
25,492 |
|
|
$ |
33,941 |
|
|
$ |
38,605 |
|
|
$ |
33,298 |
|
|
Net operating expenses
|
|
|
(38,671 |
) |
|
|
(272,462 |
) |
|
|
(46,970 |
) |
|
|
(45,686 |
) |
|
Interest expense, net
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|
|
(6,436 |
) |
|
|
(6,465 |
) |
|
|
(6,243 |
) |
|
|
(5,922 |
) |
|
Gain on debt extinguishment
|
|
|
9,080 |
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|
1,483 |
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|
|
— |
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|
|
— |
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|
Realized gain on commodity derivatives
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|
14,552 |
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|
12,755 |
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|
9,281 |
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|
15,901 |
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|
Unrealized (loss) gain on commodity derivatives
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|
|
(10,285 |
) |
|
|
296 |
|
|
|
(13,904 |
) |
|
|
(9,321 |
) |
|
Other income (expense)
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|
225 |
|
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|
(91 |
) |
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|
12 |
|
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|
26 |
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(Loss) income before income tax (benefit)
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|
(6,043 |
) |
|
|
(230,543 |
) |
|
|
(19,219 |
) |
|
|
(11,704 |
) |
|
Income tax benefit
|
|
|
(284 |
) |
|
|
(81,756 |
) |
|
|
(7,369 |
) |
|
|
(3,996 |
) |
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Net loss
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$ |
(5,759 |
) |
|
$ |
(148,787 |
) |
|
$ |
(11,850 |
) |
|
$ |
(7,708 |
) |
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Basic net loss applicable to common stockholders per common
share
|
|
$ |
(0.14 |
) |
|
$ |
(3.67 |
) |
|
$ |
(0.29 |
) |
|
$ |
(0.19 |
) |
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Diluted net loss applicable to common stockholders per common
share
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|
$ |
(0.14 |
) |
|
$ |
(3.67 |
) |
|
$ |
(0.29 |
) |
|
$ |
(0.19 |
) |
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| |
|
2014 Quarters Ended |
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| |
|
December 31 |
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September 30 |
|
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June 30 |
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March 31 |
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|
Net revenue
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|
$ |
55,070 |
|
|
$ |
68,124 |
|
|
$ |
73,408 |
|
|
$ |
61,927 |
|
|
Net operating expenses
|
|
|
(50,136 |
) |
|
|
(45,525 |
) |
|
|
(50,812 |
) |
|
|
(44,899 |
) |
|
Interest expense, net
|
|
|
(5,715 |
) |
|
|
(5,442 |
) |
|
|
(5,357 |
) |
|
|
(5,137 |
) |
|
Equity in earnings (losses) of investee
|
|
|
5 |
|
|
|
— |
|
|
|
(186 |
) |
|
|
— |
|
|
Realized gain (loss) on commodity derivatives
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|
7,782 |
|
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|
(764 |
) |
|
|
(3,320 |
) |
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|
(1,339 |
) |
|
Unrealized gain (loss) on commodity derivatives
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|
36,907 |
|
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|
18,810 |
|
|
|
(7,678 |
) |
|
|
(5,926 |
) |
|
Other income (expense)
|
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|
176 |
|
|
|
— |
|
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|
(109 |
) |
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— |
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Income before income tax
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44,089 |
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|
35,203 |
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|
5,946 |
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|
4,626 |
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|
Income tax provision
|
|
|
17,102 |
|
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|
12,756 |
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|
2,153 |
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|
1,681 |
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Net income
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|
$ |
26,987 |
|
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$ |
22,447 |
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$ |
3,793 |
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$ |
2,945 |
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Basic net income applicable to common stockholders per common
share
|
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$ |
0.68 |
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$ |
0.57 |
|
|
$ |
0.10 |
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$ |
0.08 |
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Diluted net income applicable to common stockholders per common
share
|
|
$ |
0.68 |
|
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$ |
0.57 |
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$ |
0.10 |
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$ |
0.08 |
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| |
|
2013 Quarters Ended |
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| |
|
December 31 |
|
|
September 30 |
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|
June 30 |
|
|
March 31 |
|
|
Net revenue
|
|
$ |
58,565 |
|
|
$ |
44,196 |
|
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$ |
42,272 |
|
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$ |
36,269 |
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|
Net operating expenses
|
|
|
(40,402 |
) |
|
|
(34,314 |
) |
|
|
(31,329 |
) |
|
|
(31,665 |
) |
|
Interest expense, net
|
|
|
(5,225 |
) |
|
|
(5,179 |
) |
|
|
(2,451 |
) |
|
|
(1,229 |
) |
|
Equity in (losses) earnings of investee
|
|
|
(4 |
) |
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|
340 |
|
|
|
(64 |
) |
|
|
(116 |
) |
|
Gain on sale of Wildcat pipeline
|
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|
90,743 |
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|
— |
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|
— |
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|
— |
|
|
Realized gain (loss) on commodity derivatives
|
|
|
199 |
|
|
|
(840 |
) |
|
|
(714 |
) |
|
|
307 |
|
|
Unrealized (loss) gain on commodity derivatives
|
|
|
(1,348 |
) |
|
|
(3,438 |
) |
|
|
4,290 |
|
|
|
(4,100 |
) |
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|
Income (loss) before income tax (benefit)
|
|
|
102,528 |
|
|
|
765 |
|
|
|
12,004 |
|
|
|
(534 |
) |
|
Income tax provision (benefit)
|
|
|
38,207 |
|
|
|
270 |
|
|
|
4,217 |
|
|
|
(187 |
) |
|
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|
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|
Net income (loss)
|
|
$ |
64,321 |
|
|
$ |
495 |
|
|
$ |
7,787 |
|
|
$ |
(347 |
) |
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Basic net income (loss) applicable to common stockholders per
common share
|
|
$ |
1.65 |
|
|
$ |
0.01 |
|
|
$ |
0.20 |
|
|
$ |
(0.01 |
) |
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Diluted net income (loss) applicable to common stockholders per
common share
|
|
$ |
1.65 |
|
|
$ |
0.01 |
|
|
$ |
0.20 |
|
|
$ |
(0.01 |
) |
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