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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Operating Revenues:        
Total operating revenues $ 67,347 $ 121,282 $ 190,213 $ 330,846
Operating Expenses:        
Production tax expense (1,074) 7,868 (2,133) 20,666
Exploration expense 74 56 126 93
Impairment and abandonment expense 2,813 1,170 1,269,049 2,487
(Gain) loss on sale of properties 18 0 4,797 2,901
Depreciation, depletion and amortization 25,522 84,948 125,355 230,170
Unused commitments 4,985 4,418 13,821 13,239
General and administrative expense 12,891 11,048 35,996 36,109
Merger transaction expense 0 2,078 0 4,492
Other operating expenses, net (38) 230 (540) 210
Total operating expenses 55,813 121,812 1,485,914 345,877
Operating Income (Loss) 11,534 (530) (1,295,701) (15,031)
Other Income and Expense:        
Interest and other income (expense) 171 94 235 562
Interest expense (14,346) (15,167) (44,117) (43,227)
Commodity derivative gain (loss) (13,746) 31,047 144,649 (54,600)
Total other income and expense (27,921) 15,974 100,767 (97,265)
Income (Loss) before Income Taxes (16,387) 15,444 (1,194,934) (112,296)
(Provision for) Benefit from Income Taxes 582 (4,330) 95,862 25,271
Net Income (Loss) $ (15,805) $ 11,114 $ (1,099,072) $ (87,025)
Net Income (Loss) Per Common Share, Basic (in dollars per share) [1] $ (3.72) $ 2.64 $ (259.52) $ (20.69)
Net Income (Loss) Per Common Share, Diluted (in dollars per share) [1] $ (3.72) $ 2.63 $ (259.52) $ (20.69)
Weighted Average Common Shares Outstanding, Basic (in shares) [1] 4,246,047 4,210,993 4,235,432 4,205,768
Weighted Average Common Shares Outstanding, Diluted (in shares) [1] 4,246,047 4,218,745 4,235,432 4,205,768
Oil, gas and NGL production        
Operating Revenues:        
Production and other revenues $ 67,305 $ 121,281 $ 190,171 $ 330,472
Other operating revenues, net        
Operating Revenues:        
Production and other revenues 42 1 42 374
Lease operating expense        
Operating Expenses:        
Cost of goods and services 5,305 8,385 25,460 30,434
Gathering, transportation and processing expense        
Operating Expenses:        
Cost of goods and services $ 5,317 $ 1,611 $ 13,983 $ 5,076
[1] All share and per share information has been retroactively adjusted to reflect a 1-for-50 reverse stock split effective October 30, 2020. See Note 12 for additional information.