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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUE        
Revenue from contracts with customers $ 207,721 $ 117,922 $ 364,165 $ 207,372
Gain (loss) on commodity derivative instruments (27,349) (59,480) (147,369) (87,362)
TOTAL REVENUE 180,372 58,442 216,796 120,010
OPERATING (INCOME) EXPENSE        
Lease operating expense 3,199 3,837 6,360 6,501
Production costs and ad valorem taxes 19,504 9,296 33,453 21,138
Exploration expense 2 2 182 1,075
Depreciation, depletion, and amortization 11,893 15,796 22,810 31,428
General and administrative 12,519 12,187 26,282 25,039
Accretion of asset retirement obligations 205 298 407 590
(Gain) loss on sale of assets, net (17) 0 (17) 0
TOTAL OPERATING EXPENSE 47,305 41,416 89,477 85,771
INCOME (LOSS) FROM OPERATIONS 133,067 17,026 127,319 34,239
OTHER INCOME (EXPENSE)        
Interest and investment income 2 0 2 0
Interest expense (1,362) (1,628) (2,571) (2,838)
Other income (expense) 81 31 36 214
TOTAL OTHER EXPENSE (1,279) (1,597) (2,533) (2,624)
NET INCOME (LOSS) 131,788 15,429 124,786 31,615
Distributions on Series B cumulative convertible preferred units (5,250) (5,250) (10,500) (10,500)
NET INCOME (LOSS) ATTRIBUTABLE TO THE GENERAL PARTNER AND COMMON UNITS 126,538 10,179 114,286 21,115
ALLOCATION OF NET INCOME (LOSS):        
General partner interest 0 0 0 0
Common units 126,538 10,179 114,286 21,115
NET INCOME (LOSS) ATTRIBUTABLE TO THE GENERAL PARTNER AND COMMON UNITS $ 126,538 $ 10,179 $ 114,286 $ 21,115
NET INCOME (LOSS) ATTRIBUTABLE TO LIMITED PARTNERS PER COMMON UNIT:        
Per common unit (basic) (in dollars per share) $ 0.60 $ 0.05 $ 0.55 $ 0.10
Per common unit (diluted) (in dollars per share) $ 0.59 $ 0.05 $ 0.55 $ 0.10
Weighted average common units outstanding (basic) (in shares) 209,397 207,945 209,360 207,695
Weighted average common units outstanding (diluted) (in shares) 224,366 207,945 209,360 207,695
Oil and condensate sales        
REVENUE        
Revenue from contracts with customers $ 94,296 $ 53,936 $ 170,127 $ 98,112
Natural gas and natural gas liquids sales        
REVENUE        
Revenue from contracts with customers 111,181 56,481 186,935 99,370
Lease bonus and other income        
REVENUE        
Revenue from contracts with customers $ 2,244 $ 7,505 $ 7,103 $ 9,890