XML 14 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating Revenues:        
Crude oil sales $ 204,114 $ 47,472 $ 497,771 $ 121,459
Operating Costs and Expenses:        
Crude oil and natural gas production 19,707 6,710 45,748 13,629
Production and ad valorem taxes 10,526 1,783 25,833 5,990
Exploration and abandonments 290 488 683 1,142
Depletion, depreciation and amortization 42,624 13,917 94,531 43,737
Accretion of discount 125 44 245 116
General and administrative 1,877 1,666 5,833 5,042
Stock-based compensation 10,655 905 29,210 2,894
Total operating costs and expenses 85,804 25,513 202,083 72,550
Income from operations 118,310 21,959 295,688 48,909
Interest and other income 1 0 253 1
Interest expense (14,608) (947) (29,142) (1,153)
Derivative gain (loss), net 35,798 (10,820) (42,487) (24,416)
Other expense 0 0   (127)
Income before income taxes 139,501 10,192 224,312 23,214
Income tax expense 31,597 2,145 55,357 4,680
Net income $ 107,904 $ 8,047 $ 168,955 $ 18,534
Earnings per share:        
Basic net income (in dollars per share) $ 0.90 $ 0.07 $ 1.48 $ 0.18
Diluted net income (in dollars per share) $ 0.85 $ 0.08 $ 1.40 $ 0.18
Weighted average shares outstanding:        
Basic (in shares) 108,681 92,676 102,614 92,648
Diluted (in shares) 115,118 92,678 109,144 92,715
Dividends declared per share (in dollars per share) $ 0.025 $ 0.125 $ 0.075 $ 0.125
Crude Oil Sales [Member]        
Operating Revenues:        
Crude oil sales $ 189,441 $ 44,785 $ 467,305 $ 116,640
Natural Gas and NGL Sales [Member]        
Operating Revenues:        
Crude oil sales $ 14,673 $ 2,687 $ 30,466 $ 4,819