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CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
OPERATING REVENUES        
Operating revenues $ 470,468 $ 457,115 $ 1,103,892 $ 924,765
Gain (loss) on derivative instruments 63,649 (3,668) 71,906 1,909
TOTAL OPERATING REVENUES 534,117 453,447 1,175,798 926,674
OPERATING EXPENSES        
Direct operations 18,093 15,657 36,427 35,727
Taxes other than income 3,640 5,392 9,487 12,582
Exploration 4,504 54,500 10,548 58,117
Depreciation, depletion and amortization 96,147 84,910 188,405 167,038
General and administrative 22,889 21,228 53,979 45,288
TOTAL OPERATING EXPENSES 286,962 375,958 577,868 630,098
Earnings (loss) on equity method investments 3,650 (4) 7,334 (998)
Gain (loss) on sale of assets 0 544 (1,500) (40,505)
INCOME FROM OPERATIONS 250,805 78,029 603,764 255,073
Interest expense, net 14,567 23,328 26,748 43,386
Other expense 143 118 287 232
Income before income taxes 236,095 54,583 576,729 211,455
Income tax expense 55,086 12,152 132,957 51,793
NET INCOME $ 181,009 $ 42,431 $ 443,772 $ 159,662
Earnings per share        
Basic (in dollars per share) $ 0.43 $ 0.09 $ 1.05 $ 0.35
Diluted (in dollars per share) $ 0.43 $ 0.09 $ 1.05 $ 0.35
Weighted-average common shares outstanding        
Basic (in shares) 422,141 451,055 422,626 455,361
Diluted (in shares) 424,349 453,114 424,550 457,142
Dividends per common share (in dollars per share) $ 0.09 $ 0.06 $ 0.16 $ 0.12
Natural gas        
OPERATING REVENUES        
Operating revenues $ 470,482 $ 364,660 $ 1,103,656 $ 776,768
Crude oil and condensate        
OPERATING REVENUES        
Operating revenues 0 0 0 48,722
Brokered natural gas        
OPERATING REVENUES        
Operating revenues 0 92,576 0 97,526
OPERATING EXPENSES        
Operating expenses 0 80,082 0 85,032
Other        
OPERATING REVENUES        
Operating revenues (14) (121) 236 1,749
Transportation and gathering        
OPERATING EXPENSES        
Operating expenses $ 141,689 $ 114,189 $ 279,022 $ 226,314