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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
shares in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
REVENUES    
Natural gas, oil and natural gas liquids sales $ 99,432,000 $ 40,488,000
Brokered natural gas and marketing revenue 2,431,000 9,118,000
Total revenues 101,863,000 49,606,000
OPERATING EXPENSES    
Lease operating 2,343,000 2,677,000
Transportation, gathering and compression 32,877,000 23,137,000
Production and ad valorem taxes 1,931,000 2,563,000
Brokered natural gas and marketing expense 2,460,000 9,402,000
Depreciation, depletion and amortization 26,189,000 15,113,000
Exploration 11,581,000 15,656,000
General and administrative 10,132,000 11,274,000
Rig termination and standby   2,663,000
Impairment of proved oil and gas properties   17,665,000
Accretion of asset retirement obligations 124,000 86,000
(Gain) loss on sale of assets (5,000) (22,000)
Total operating expenses 87,632,000 100,214,000
OPERATING INCOME (LOSS) 14,231,000 (50,608,000)
OTHER INCOME (EXPENSE)    
Gain (loss) on derivative instruments 25,097,000 10,550,000
Interest expense, net (12,462,000) (13,461,000)
Gain (loss) on early extinguishment of debt   8,664,000
Other income (expense) (19,000) (139,000)
Total other expense, net 12,616,000 5,614,000
INCOME (LOSS) BEFORE INCOME TAXES 26,847,000 (44,994,000)
INCOME TAX BENEFIT (EXPENSE) 0 (540,000)
NET INCOME (LOSS) $ 26,847,000 $ (45,534,000)
NET INCOME (LOSS) PER COMMON SHARE    
Basic $ 0.10 $ (0.20)
Diluted $ 0.10 $ (0.20)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING    
Basic 261,105 222,784
Diluted 264,215 222,784