XML 40 R4.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated and Combined Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
REVENUES      
Mineral and royalty revenues $ 97,886 $ 59,758 $ 30,066
Lease bonus and other revenues 3,629 7,506 10,842
Total revenues 101,515 67,264 40,908
OTHER OPERATING INCOME:      
Gain on sale of oil and gas properties, net 0 0 94,551
OPERATING EXPENSES      
Gathering, transportation and marketing 4,985 3,944 1,754
Severance and ad valorem taxes 6,409 3,536 1,601
Depreciation, depletion, and amortization 30,940 13,915 6,955
General and administrative 21,963 6,638 3,935
Total operating expenses 64,297 28,033 14,245
NET INCOME FROM OPERATIONS 37,218 39,231 121,214
(Loss) gain on derivative instruments, net (568) 424 (121)
Interest expense, net (5,609) (7,446) (556)
Loss on extinguishment of debt (6,892) 0 0
Gain (loss) on sale and distribution of equity securities 0 823 (4,222)
Other income, net 169 110 305
Income before income taxes 24,318 33,142 116,620
Income tax expense 2,679 327 1,008
NET INCOME (21,639) (32,815) (115,612)
Less: Net income attributable to temporary equity (5,092) (30,976) (115,612)
Less: Net income attributable to temporary equity (9,646) 0 0
Net income attributable to common shareholders $ 6,901 $ 1,839 $ 0
NET INCOME PER COMMON SHARE      
Basic (in dollars per share) $ 0.26 $ 0.00 $ 0.00
Diluted (in dollars per share) $ 0.26 $ 0.00 $ 0.00
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING      
Basic (in shares) 22,870 0 0
Diluted (in shares) 22,870 0 0