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Statements of Condensed Consolidated Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating revenues:    
Sales of natural gas, natural gas liquids and oil $ 715,201 $ 1,271,613
Gain (loss) on derivatives not designated as hedges 389,436 (131,996)
Total operating revenues 1,107,057 1,143,173
Operating expenses:    
Transportation and processing 439,834 439,246
Production 40,380 43,408
Exploration 923 1,007
Selling, general and administrative 34,938 48,978
Depreciation and depletion 357,526 391,113
Amortization of intangible assets 7,478 10,342
Loss on exchange of long-lived assets 48,852 0
Impairment and expiration of leases 53,768 29,534
Proxy, transaction and reorganization 0 4,089
Total operating expenses 983,699 967,717
Operating income 123,358 175,456
Gain on Equitrans Share Exchange (187,223) 0
Loss (gain) on investment in Equitrans Midstream Corporation 390,628 (89,055)
Dividend and other income (24,714) (20,987)
Interest expense 62,374 56,573
Loss on debt extinguishment 16,610 0
(Loss) income before income taxes (134,317) 228,925
Income tax expense 32,822 38,234
Net (loss) income $ (167,139) $ 190,691
Basic:    
Weighted average common stock outstanding (in shares) 255,435 254,879
Net (loss) income (in dollars per share) $ (0.65) $ 0.75
Diluted:    
Weighted average common stock outstanding (in shares) 255,435 255,226
Net (loss) income (in dollars per share) $ (0.65) $ 0.75
Sales of natural gas, natural gas liquids and oil    
Operating revenues:    
Sales of natural gas, natural gas liquids and oil $ 715,201 $ 1,271,613
Gain (loss) on derivatives not designated as hedges    
Operating revenues:    
Net marketing services and other $ 2,420 $ 3,556