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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues and other income:        
Natural gas, NGLs and oil sales $ 304,477 $ 252,065 $ 738,570 $ 835,601
Derivative fair value income (loss) 64,556 202,004 (11,334) 290,052
Brokered natural gas, marketing and other 44,174 25,864 119,181 61,688
Total revenues and other income 413,207 479,933 846,417 1,187,341
Costs and expenses:        
Direct operating 22,387 35,058 67,112 106,975
Transportation, gathering, processing and compression 138,764 99,634 400,871 284,258
Production and ad valorem taxes 6,717 7,336 18,653 26,506
Brokered natural gas and marketing 44,622 32,331 122,105 80,924
Exploration 6,943 4,235 18,641 17,146
Abandonment and impairment of unproved properties 6,082 12,366 23,769 36,187
General and administrative 41,024 46,178 127,745 150,471
Memorial merger expenses 33,791 0 36,412 0
Termination costs 136 (77) 303 6,290
Deferred compensation plan (11,636) (43,705) 30,166 (56,611)
Interest 45,967 42,904 121,464 125,590
Loss on early extinguishment of debt 0 22,495 0 22,495
Depletion, depreciation and amortization 131,489 153,993 374,440 453,178
Impairment of proved properties 0 502,233 43,040 502,233
Loss (gain) on the sale of assets 2,597 681 7,544 (2,053)
Total costs and expenses 468,883 915,662 1,392,265 1,753,589
Loss before income taxes (55,676) (435,729) (545,848) (566,248)
Income tax benefit:        
Current 0 0 0 0
Deferred (13,705) (134,781) (187,231) (174,390)
Total income tax benefit (13,705) (134,781) (187,231) (174,390)
Net loss $ (41,971) $ (300,948) $ (358,617) $ (391,858)
Net loss per common share:        
Basic $ (0.23) $ (1.81) $ (2.09) $ (2.36)
Diluted (0.23) (1.81) (2.09) (2.36)
Dividends paid per common share $ 0.02 $ 0.04 $ 0.06 $ 0.12
Weighted average common shares outstanding:        
Basic [1] 180,683 166,517 171,571 166,327
Diluted 180,683 166,517 171,571 166,327
[1] Includes common stock issued in connection with the exchange of 77.0 million shares for all outstanding Memorial common stock on September 16, 2016.