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UNAUDITED CONDENSED STATEMENTS OF CONSOLIDATED OPERATIONS - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Total revenues $ 59,532,000 $ 90,988,000 $ 124,687,000 $ 178,920,000
Costs and expenses:        
Lease operating expense 26,292,000 27,500,000 55,202,000 57,070,000
Exploration 6,000 2,988,000 21,000 3,022,000
Taxes other than income 3,464,000 5,535,000 7,873,000 10,572,000
Depreciation, depletion and amortization 12,913,000 13,619,000 24,079,000 26,577,000
General and administrative expense 10,566,000 16,863,000 19,874,000 27,520,000
Accretion of asset retirement obligations 1,332,000 1,429,000 2,643,000 3,147,000
(Gain) loss on commodity derivative instruments (22,993,000) 35,652,000 9,494,000 46,108,000
(Gain) loss on sale of properties 0 (227,000) 0 2,146,000
Other, net 34,000 (120,000) 177,000 (120,000)
Total costs and expenses 36,005,000 109,214,000 128,411,000 187,617,000
Operating income (loss) 23,527,000 (18,226,000) (3,724,000) (8,697,000)
Other income (expense):        
Interest expense, net (4,422,000) (6,287,000) (8,511,000) (12,059,000)
Other income (expense) 0 2,000 0 2,000
Total other income (expense) (4,422,000) (6,285,000) (8,511,000) (12,057,000)
Income (loss) before reorganization items, net and income taxes 19,105,000 (24,511,000) (12,235,000) (20,754,000)
Reorganization items, net (464,000) (768,000) (651,000) (1,286,000)
Income tax benefit (expense) 0 0 50,000 0
Net income (loss) 18,641,000 (25,279,000) (12,836,000) (22,040,000)
Net (income) loss allocated to participating restricted stockholders (728,000) 0 0 0
Net income (loss) attributable to common stockholders $ 17,913,000 $ (25,279,000) $ (12,836,000) $ (22,040,000)
Earnings per share: (See Note 10)        
Basic and diluted earnings per share $ 0.80 $ (1.01) $ (0.58) $ (0.88)
Weighted average common shares outstanding:        
Basic and diluted 22,267 25,038 22,223 25,019
Oil and Natural Gas Sales [Member]        
Revenues:        
Total revenues $ 59,485,000 $ 90,894,000 $ 124,552,000 $ 178,741,000
Other Revenues [Member]        
Revenues:        
Total revenues 47,000 94,000 135,000 179,000
Gathering, Processing and Transportation [Member]        
Costs and expenses:        
Gathering, processing and transportation $ 4,391,000 $ 5,975,000 $ 9,048,000 $ 11,575,000