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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
REVENUES        
Natural gas, oil and natural gas liquids sales $ 91,549,000 $ 54,351,000 $ 277,174,000 $ 140,740,000
Brokered natural gas and marketing revenue   128,000 2,428,000 10,411,000
Total revenues 91,549,000 54,479,000 279,602,000 151,151,000
OPERATING EXPENSES        
Lease operating 5,032,000 2,186,000 11,943,000 7,111,000
Transportation, gathering and compression 30,869,000 26,888,000 92,715,000 78,279,000
Production and ad valorem taxes 2,427,000 1,128,000 6,391,000 5,894,000
Brokered natural gas and marketing expense 8,000 42,000 2,474,000 11,604,000
Depreciation, depletion and amortization 35,588,000 28,225,000 86,929,000 64,287,000
Exploration 8,937,000 12,083,000 29,514,000 45,183,000
General and administrative 11,347,000 8,036,000 32,209,000 29,712,000
Rig termination and standby   (112,000)   3,843,000
Impairment of proved oil and gas properties       17,665,000
Accretion of asset retirement obligations 143,000 100,000 395,000 275,000
(Gain) loss on sale of assets (13,000) 102,000 (12,000) (944,000)
Total operating expenses 94,338,000 78,678,000 262,558,000 262,909,000
OPERATING INCOME (LOSS) (2,789,000) (24,199,000) 17,044,000 (111,758,000)
OTHER INCOME (EXPENSE)        
Gain (loss) on derivative instruments (1,889,000) 10,639,000 41,385,000 (8,407,000)
Interest expense, net (12,016,000) (12,393,000) (36,763,000) (38,293,000)
Gain (loss) on early extinguishment of debt       14,489,000
Other income (expense)   4,000 (19,000) (137,000)
Total other income (expense), net (13,905,000) (1,750,000) 4,603,000 (32,348,000)
INCOME (LOSS) BEFORE INCOME TAXES (16,694,000) (25,949,000) 21,647,000 (144,106,000)
INCOME TAX BENEFIT (EXPENSE)     0 (540,000)
NET INCOME (LOSS) $ (16,694,000) $ (25,949,000) $ 21,647,000 $ (144,646,000)
NET INCOME (LOSS) PER COMMON SHARE        
Basic $ (0.06) $ (0.10) $ 0.08 $ (0.62)
Diluted $ (0.06) $ (0.10) $ 0.08 $ (0.62)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING        
Basic 262,586 258,812 262,044 234,933
Diluted 262,586 258,812 264,717 234,933