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Consolidated Statements of Operations & Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues        
Oil sales $ 15,090 $ 15,168 $ 29,580 $ 24,119
Natural gas sales 1,726 1,636 3,182 3,257
Natural gas liquid sales 1,319 999 2,989 1,623
Total revenues 18,135 17,803 35,751 28,999
Costs and expenses        
Lease operating and gas gathering 3,521 4,398 6,477 8,758
Production, ad valorem, and severance taxes 1,077 1,223 2,114 2,139
Rig standby expense   1,584   1,897
Depletion, depreciation, and amortization 12,513 12,498 24,635 27,636
Accretion of asset retirement obligations 38 51 58 107
Loss (gain) on sale of oil and gas properties 205 (1,531) 348 (1,531)
Impairment of oil and gas properties 27,081 1,938 27,081 1,938
Stock-based compensation 461 95 639 191
General and administrative 3,139 2,858 5,642 5,631
Acquisition costs 2,726   2,726  
Other (income) expense (46) 819 (57) 1,047
Total costs and expenses 50,715 23,933 69,663 47,813
Loss from operations (32,580) (6,130) (33,912) (18,814)
Other income (expense)        
Interest expense (5,971) (5,629) (10,417) (11,210)
Amortization of finance costs (2,848) (545) (3,434) (1,089)
Unrealized gain on warrants 614   2,884  
Gain (loss) on derivative financial instruments 5,416 (6,785) 14,162 (5,069)
Total other income (expense), net (2,789) (12,959) 3,195 (17,368)
Loss before income taxes (35,369) (19,089) (30,717) (36,182)
Income tax benefit 12,208 6,245 10,621 12,040
Net loss (23,161) (12,844) (20,096) (24,142)
Preferred stock dividends (296)   (296)  
Net loss attributable to common stockholders $ (23,457) $ (12,844) $ (20,392) $ (24,142)
Earnings per share:        
Basic $ (1.07) $ (1.71) $ (0.93) $ (3.21)
Diluted $ (1.07) $ (1.71) $ (0.93) $ (3.21)
Weighted Average Shares Outstanding - basic 21,822,015 7,522,025 21,822,015 7,522,025
Weighted Average Shares Outstanding - diluted 21,822,015 7,522,025 21,822,015 7,522,025
Comprehensive loss:        
Net loss $ (23,161) $ (12,844) $ (20,096) $ (24,142)
Foreign currency translation adjustments   (17)   (16)
Comprehensive loss $ (23,161) $ (12,861) $ (20,096) $ (24,158)