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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Other income (expense)    
Net income (loss) $ 10,707  
Successor    
Net revenues    
Oil sales 46,681  
Natural gas sales 8,241  
NGL sales 6,175  
Total net revenues 61,097  
Operating expenses    
Lease operating expenses 7,278  
Severance and ad valorem taxes 3,187  
Transportation, processing and gathering expenses 5,244  
Depreciation, depletion and amortization 26,160  
Abandonment expense and impairment of unproved properties (29)  
General and administrative expenses 12,065  
Total operating expenses 53,905  
Total operating income (loss) 7,192  
Other income (expense)    
Gain (loss) on sale of oil and natural gas properties and other assets 166  
Interest expense (410)  
Net gain on derivative instruments 3,759  
Other income 3,515  
Income (loss) before income taxes 10,707  
Income tax expense (benefit) 0  
Net income (loss) 10,707  
Less: Net income attributable to noncontrolling interest 884  
Net income (loss) attributable to Centennial Resource Development, Inc. $ 9,823  
Income per share:    
Basic (USD per share) $ 0.04  
Diluted (USD per share) $ 0.04  
Predecessor    
Net revenues    
Oil sales   $ 13,226
Natural gas sales   1,313
NGL sales   582
Total net revenues   15,121
Operating expenses    
Lease operating expenses   4,042
Severance and ad valorem taxes   844
Transportation, processing and gathering expenses   1,130
Depreciation, depletion and amortization   21,303
Abandonment expense and impairment of unproved properties   0
General and administrative expenses   2,536
Total operating expenses   29,855
Total operating income (loss)   (14,734)
Other income (expense)    
Gain (loss) on sale of oil and natural gas properties and other assets   (4)
Interest expense   (1,641)
Net gain on derivative instruments   1,918
Other income   273
Income (loss) before income taxes   (14,461)
Income tax expense (benefit)   0
Net income (loss)   (14,461)
Less: Net income attributable to noncontrolling interest   0
Net income (loss) attributable to Centennial Resource Development, Inc.   $ (14,461)