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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Natural gas sales $ 50,437 $ 25,727 $ 91,377 $ 50,874
Oil sales 11,034 14,988 23,895 26,004
Total oil and gas sales 61,471 40,715 115,272 76,878
Operating expenses:        
Production taxes 1,143 1,327 2,240 2,513
Gathering and transportation 3,545 4,025 7,673 8,390
Lease operating 9,433 12,988 19,322 25,948
Exploration       7,753
Depreciation, depletion and amortization 30,321 36,029 60,226 74,865
General and administrative 6,559 5,663 12,960 11,238
Impairment of oil and gas properties   1,742   24,460
Net loss on sale of oil and gas properties   1,647   907
Total operating expenses 51,001 63,421 102,421 156,074
Operating income (loss) 10,470 (22,706) 12,851 (79,196)
Other income (expenses):        
Gain on extinguishment of debt   56,196   89,576
Gain from derivative financial instruments 5,295 18 13,155 674
Other income 65 314 228 595
Interest expense (36,755) (28,882) (69,655) (58,826)
Total other income (expenses) (31,395) 27,646 (56,272) 32,019
Income (loss) before income taxes (20,925) 4,940 (43,421) (47,177)
Provision for income taxes (517) (88) (952) (4,548)
Net income (loss) $ (21,442) $ 4,852 $ (44,373) $ (51,725)
Net income (loss) per share – basic and diluted $ (1.45) $ 0.41 $ (3.06) $ (4.82)
Weighted average shares outstanding – basic and diluted 14,749 11,557 14,488 10,729