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CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
OPERATING REVENUES        
Operating revenues $ 288,374 $ 470,468 $ 658,769 $ 1,103,892
Gain on derivative instruments 43,974 63,649 60,036 71,906
Total operating revenues 332,348 534,117 718,805 1,175,798
OPERATING EXPENSES        
Direct operations 17,423 18,093 34,667 36,427
Transportation and gathering 135,249 141,689 278,581 279,022
Taxes other than income 3,352 3,640 7,090 9,487
Exploration 4,579 4,504 6,769 10,548
Depreciation, depletion and amortization 94,622 96,147 194,757 188,405
General and administrative 23,166 22,889 56,595 53,979
Total operating expenses 278,391 286,962 578,459 577,868
Earnings (loss) on equity method investments 0 3,650 (59) 7,334
Loss on sale of assets (241) 0 (170) (1,500)
INCOME FROM OPERATIONS 53,716 250,805 140,117 603,764
Interest expense, net 14,543 14,567 28,754 26,748
Other expense 48 143 114 287
Income before income taxes 39,125 236,095 111,249 576,729
Income tax expense 8,751 55,086 26,965 132,957
NET INCOME $ 30,374 $ 181,009 $ 84,284 $ 443,772
Earnings per share        
Basic (in dollars per share) $ 0.08 $ 0.43 $ 0.21 $ 1.05
Diluted (in dollars per share) $ 0.08 $ 0.43 $ 0.21 $ 1.05
Weighted-average common shares outstanding        
Basic (shares) 398,576 422,141 398,460 422,626
Diluted (shares) 401,279 424,349 400,219 424,550
Natural gas        
OPERATING REVENUES        
Operating revenues $ 288,286 $ 470,482 $ 658,626 $ 1,103,656
Other        
OPERATING REVENUES        
Operating revenues $ 88 $ (14) $ 143 $ 236