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CONDENSED CONSOLIDATED STATEMENT 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
OPERATING REVENUES        
Natural gas $ 395,328 $ 223,232 $ 828,770 $ 450,811
Crude oil and condensate 44,625 46,156 87,616 76,833
Gain (loss) on derivative instruments 13,805 (27,184) 47,190 (8,190)
Brokered natural gas 4,037 2,596 8,732 5,776
Other 2,662 2,016 5,994 3,527
TOTAL OPERATING REVENUES 460,457 246,816 978,302 528,757
OPERATING EXPENSES        
Direct operations 27,262 26,477 51,903 52,513
Transportation and gathering 120,544 107,560 244,018 217,213
Brokered natural gas 3,419 2,021 7,465 4,587
Taxes other than income 8,310 8,973 17,368 14,967
Exploration 3,959 3,738 10,157 10,121
Depreciation, depletion and amortization 144,322 147,533 279,422 309,420
Impairment of oil and gas properties 68,555 0 68,555 0
General and administrative 23,957 19,945 47,659 47,817
TOTAL OPERATING EXPENSES 400,328 316,247 726,547 656,638
Earnings (loss) on equity method investments (1,286) (73) (2,569) 1,935
Gain (loss) on sale of assets (1,403) (878) (1,626) 477
INCOME (LOSS) FROM OPERATIONS 57,440 (70,382) 247,560 (125,469)
Interest expense 20,619 21,963 41,390 46,338
Loss on debt extinguishment 0 4,709 0 4,709
Other (income) expense (315) 302 109 804
Income (loss) before income taxes 37,136 (97,356) 206,061 (177,320)
Income tax expense (benefit) 15,609 (34,446) 78,814 (63,216)
NET INCOME (LOSS) $ 21,527 $ (62,910) $ 127,247 $ (114,104)
Earnings (loss) per share        
Basic (in dollars per share) $ 0.05 $ (0.14) $ 0.27 $ (0.25)
Diluted (in dollars per share) $ 0.05 $ (0.14) $ 0.27 $ (0.25)
Weighted-average common shares outstanding        
Basic (in shares) 464,768 465,068 465,057 448,455
Diluted (in shares) 466,745 465,068 466,752 448,455
Dividends per common share (in dollars per share) $ 0.05 $ 0.02 $ 0.07 $ 0.04