XML 16 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Oil, natural gas, and natural gas liquids revenues:        
Oil $ 8,097 $ 12,163 $ 13,636 $ 21,201
Natural gas 1,016 1,982 1,959 3,512
Natural gas liquids 664 813 992 1,487
Total oil, natural gas, and natural gas liquids revenues 9,777 14,958 16,587 26,200
Gathering income 33 95 87 173
Gain on sales of oil and gas properties, net   1,680   1,680
Total revenues 9,810 16,733 16,674 28,053
Production costs:        
Lease operating expense 3,201 4,239 6,267 8,613
Severance taxes 514 746 896 1,376
Rig idle and contract termination expense 3,790   5,059  
Depreciation, depletion, and amortization 5,598 8,674 11,103 14,598
Re-engineering and workovers 306 167 581 286
Exploration expense   142 5 142
General and administrative expense 2,273 2,484 5,471 5,055
General and administrative expense - stock-based compensation 561   561  
Total operating costs and expenses 16,243 16,452 29,943 30,070
(Loss) income from operations (6,433) 281 (13,269) (2,017)
OTHER INCOME (EXPENSE)        
Interest expense, net (370) (169) (593) (338)
Net loss on derivative contracts (4,228) (1,318) (3,463) (644)
Other income (expense), net 45 163 (82) 257
Total other income (expense) (4,553) (1,324) (4,138) (725)
Loss before income taxes (10,986) (1,043) (17,407) (2,742)
Income tax expense (benefit) 186 (295) 186 (880)
Net loss $ (11,172) $ (748) $ (17,593) $ (1,862)
Net loss per common share:        
Basic $ (0.69) $ (0.05) $ (1.17) $ (0.13)
Diluted $ (0.69) $ (0.05) $ (1.17) $ (0.13)
Weighted average common shares outstanding:        
Basic 16,121,568 13,835,128 14,978,348 13,835,128
Diluted 16,121,568 13,835,128 14,978,348 13,835,128