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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenues and other income:    
Natural gas, NGLs and oil sales $ 559,450 $ 209,487
Derivative fair value income 165,557 86,908
Brokered natural gas, marketing and other 51,648 35,018
Total revenues and other income 776,655 331,413
Costs and expenses:    
Direct operating 28,023 24,054
Transportation, gathering, processing and compression 177,648 125,263
Production and ad valorem taxes 9,163 5,887
Brokered natural gas and marketing 53,550 36,558
Exploration 8,504 4,913
Abandonment and impairment of unproved properties 4,420 10,628
General and administrative 47,496 40,657
Termination costs 4,192 162
Deferred compensation plan (13,169) 16,056
Interest 47,101 37,739
Depletion, depreciation and amortization 149,821 120,561
Impairment of proved properties and other assets 0 43,040
(Gain) loss on the sale of assets (22,600) 1,643
Total costs and expenses 494,149 467,161
Income (loss) before income taxes 282,506 (135,748)
Income tax expense (benefit):    
Current 0 0
Deferred 112,395 (41,976)
Total income tax expense (benefit) 112,395 (41,976)
Net income (loss) $ 170,111 $ (93,772)
Net income (loss) per common share:    
Basic $ 0.69 $ (0.56)
Diluted 0.69 (0.56)
Dividends paid per common share $ 0.02 $ 0.02
Weighted average common shares outstanding:    
Basic [1] 244,652 166,803
Diluted 244,803 166,803
[1] 2017 includes common stock issued in connection with the exchange of 77.0 million shares for all outstanding Memorial common stock on September 16, 2016.