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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Operating Revenues:        
Operating revenues $ 201,428,000 $ 48,270,000 $ 293,657,000 $ 73,987,000
Operating Costs and Expenses:        
Crude oil and natural gas production 16,595,000 4,692,000 26,041,000 6,919,000
Production and ad valorem taxes 10,301,000 2,543,000 15,307,000 4,207,000
Exploration and abandonments 184,000 463,000 393,000 654,000
Depletion, depreciation and amortization 34,883,000 16,857,000 51,907,000 29,820,000
Accretion of discount 66,000 37,000 120,000 72,000
General and administrative 2,016,000 1,617,000 3,956,000 3,376,000
Stock-based compensation 14,579,000 1,023,000 18,555,000 1,989,000
Total operating costs and expenses 78,624,000 27,232,000 116,279,000 47,037,000
Income from operations 122,804,000 21,038,000 177,378,000 26,950,000
Interest and other income 2,000 0 252,000 1,000
Interest expense (9,282,000) (152,000) (14,534,000) (206,000)
Derivative loss, net (11,891,000) (13,596,000) (78,285,000) (13,596,000)
Other expense 0 (127,000) 0 (127,000)
Income before income taxes 101,633,000 7,163,000 84,811,000 13,022,000
Income tax expense 24,072,000 1,420,000 23,760,000 2,535,000
Earnings (loss) per share:        
Net income $ 77,561,000 $ 5,743,000 $ 61,051,000 $ 10,487,000
Basic net income (in dollars per share) $ 0.69 $ 0.06 $ 0.56 $ 0.11
Diluted net income (in dollars per share) $ 0.64 $ 0.06 $ 0.52 $ 0.10
Weighted average shares outstanding:        
Basic (in shares) 103,178 92,676 99,530 92,634
Diluted (in shares) 111,228 92,676 106,843 92,830
Dividends declared per share (in dollars per share) $ 0.025 $ 0 $ 0.05 $ 0
Crude Oil Sales [Member]        
Operating Revenues:        
Operating revenues $ 190,926,000 $ 46,985,000 $ 277,864,000 $ 71,855,000
Natural Gas and NGL Sales [Member]        
Operating Revenues:        
Operating revenues $ 10,502,000 $ 1,285,000 $ 15,793,000 $ 2,132,000