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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Net revenues        
Oil sales $ 70,735   $ 117,416  
Natural gas sales 12,133   20,374  
NGL sales 8,196   14,371  
Total net revenues 91,064   152,161  
Operating expenses        
Lease operating expenses 8,273   15,551  
Severance and ad valorem taxes 4,723   7,910  
Gathering, processing and transportation expenses 7,403   12,647  
Depreciation, depletion and amortization 34,300   60,460  
Abandonment expense and impairment of unproved properties 0   (29)  
Exploration expense 2,470   2,470  
General and administrative expenses 10,641   22,706  
Total operating expenses 67,810   121,715  
Total operating income (loss) 23,254   30,446  
Other income (expense)        
Gain (loss) on sale of oil and natural gas properties 7,191   7,357  
Interest expense (707)   (1,117)  
Net gain (loss) on derivative instruments 2,529   6,288  
Other income 0   0  
Other income (expense) 9,013   12,528  
Income (loss) before income taxes 32,267   42,974  
Income tax (expense) benefit (9,069)   (9,069)  
Net income (loss) 23,198   33,905  
Less: Net income attributable to noncontrolling interest 2,436   3,320  
Net income (loss) attributable to common shareholders $ 20,762   $ 30,585  
Income per share:        
Basic (USD per share) $ 0.09   $ 0.14  
Diluted (USD per share) $ 0.09   $ 0.14  
Predecessor        
Net revenues        
Oil sales   $ 20,361   $ 33,587
Natural gas sales   1,775   3,088
NGL sales   1,211   1,793
Total net revenues   23,347   38,468
Operating expenses        
Lease operating expenses   2,597   6,639
Severance and ad valorem taxes   1,247   2,091
Gathering, processing and transportation expenses   1,459   2,589
Depreciation, depletion and amortization   21,182   42,485
Abandonment expense and impairment of unproved properties   897   897
Exploration expense   262   517
General and administrative expenses   2,607   4,888
Total operating expenses   30,251   60,106
Total operating income (loss)   (6,904)   (21,638)
Other income (expense)        
Gain (loss) on sale of oil and natural gas properties   0   (4)
Interest expense   (1,798)   (3,439)
Net gain (loss) on derivative instruments   (7,843)   (5,925)
Other income   6   6
Other income (expense)   (9,635)   (9,362)
Income (loss) before income taxes   (16,539)   (31,000)
Income tax (expense) benefit   406   406
Net income (loss)   (16,133)   (30,594)
Less: Net income attributable to noncontrolling interest   0   0
Net income (loss) attributable to common shareholders   $ (16,133)   $ (30,594)