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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Oil and gas sales $ 9,942 $ 15,908 $ 29,848 $ 55,411
Gain (loss) on commodity derivative instruments (273)   (463)  
Total revenue 9,669 15,908 29,385 55,411
Operating expenses:        
Production and ad valorem taxes 745 891 2,205 2,940
Marketing and transportation 562 584 1,567 1,933
Amortization of royalty interests in oil and natural gas properties 3,542 3,184 10,485 9,624
General, administrative, and other 2,806 3,168 8,618 8,728
Total operating expenses 7,655 7,827 22,875 23,225
Operating income 2,014 8,081 6,510 32,186
Other income (expense):        
Other income 31 58 94 134
Interest expense (490) (650) (1,706) (1,838)
Total other income (expense) (459) (592) (1,612) (1,704)
Income before income taxes 1,555 7,489 4,898 30,482
Provision for income taxes 243 1,132 400 3,920
Net income 1,312 6,357 4,498 26,562
Net income attributable to non-controlling interests (723) (3,473) (2,278) (14,540)
Net income attributable to common shareholders $ 589 $ 2,884 $ 2,220 $ 12,022
Earnings per common share:        
Common shares (basic and diluted) $ 0.01 $ 0.06 $ 0.05 $ 0.26
Weighted average number of shares outstanding:        
Common shares (basic and diluted) 46,055 45,899 46,008 45,871