Basis of Presentation and Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Components of Inventories

The components of inventory as of March 31, 2018 and December 31, 2017 consisted of the following:

In thousands	March 31, 2018		December 31, 2017
Tubular goods and equipment	$	16,150	$	14,946
Crude oil	91,019		82,460
Total	$	107,169	$	97,406

Calculation of Basic and Diluted Weighted Average Shares and Net Income Per Share

The following table presents the calculation of basic and diluted weighted average shares outstanding and net income per share for the three months ended March 31, 2018 and 2017.

	Three months ended March 31,
In thousands, except per share data	2018		2017
Net income (numerator)	$	233,946	$	469
Weighted average shares (denominator):
Weighted average shares - basic	371,543		370,831
Non-vested restricted stock	2,638		2,522
Weighted average shares - diluted	374,181		373,353
Net income per share:
Basic	$	0.63	$	—
Diluted	$	0.63	$	—