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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
REVENUES        
Natural gas, oil and natural gas liquids sales $ 86,194,000 $ 45,901,000 $ 185,625,000 $ 86,389,000
Brokered natural gas and marketing revenue (3,000) 1,165,000 2,428,000 10,283,000
Total revenues 86,191,000 47,066,000 188,053,000 96,672,000
OPERATING EXPENSES        
Lease operating 4,568,000 2,248,000 6,911,000 4,925,000
Transportation, gathering and compression 28,969,000 28,254,000 61,846,000 51,391,000
Production and ad valorem taxes 2,033,000 2,203,000 3,964,000 4,766,000
Brokered natural gas and marketing expense 6,000 2,160,000 2,466,000 11,562,000
Depreciation, depletion and amortization 25,152,000 20,949,000 51,341,000 36,062,000
Exploration 8,997,000 17,444,000 20,577,000 33,100,000
General and administrative 10,730,000 10,402,000 20,862,000 21,676,000
Rig termination and standby   1,292,000   3,955,000
Impairment of proved oil and gas properties       17,665,000
Accretion of asset retirement obligations 128,000 89,000 252,000 175,000
(Gain) loss on sale of assets 6,000 (1,024,000) 1,000 (1,046,000)
Total operating expenses 80,589,000 84,017,000 168,220,000 184,231,000
OPERATING INCOME (LOSS) 5,602,000 (36,951,000) 19,833,000 (87,559,000)
OTHER INCOME (EXPENSE)        
Gain (loss) on derivative instruments 18,177,000 (29,596,000) 43,274,000 (19,046,000)
Interest expense, net (12,285,000) (12,439,000) (24,747,000) (25,900,000)
Gain (loss) on early extinguishment of debt   5,825,000   14,489,000
Other income (expense)   (2,000) (19,000) (141,000)
Total other expense, net 5,892,000 (36,212,000) 18,508,000 (30,598,000)
INCOME (LOSS) BEFORE INCOME TAXES 11,494,000 (73,163,000) 38,341,000 (118,157,000)
INCOME TAX BENEFIT (EXPENSE)     0 (540,000)
NET INCOME (LOSS) $ 11,494,000 $ (73,163,000) $ 38,341,000 $ (118,697,000)
NET INCOME (LOSS) PER COMMON SHARE        
Basic $ 0.04 $ (0.33) $ 0.15 $ (0.53)
Diluted $ 0.04 $ (0.33) $ 0.15 $ (0.53)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING        
Basic 262,423 223,013 261,768 222,898
Diluted 264,420 223,013 264,321 222,898