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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenue:        
Natural gas sales $ 3,523 $ 4,023 $ 7,462 $ 8,017
Natural gas liquid sales 550 713
Oil sales 8,091 1,146 11,074 2,192
Commodity derivative gain (loss) (6,022) 998 (6,647) 3,141
Other income 6 10 19 20
Total revenue 6,148 6,177 12,621 13,370
Expenses:        
Lease operating expenses 3,970 1,501 6,058 2,706
Transportation and gathering costs 1,498 525 2,353 1,015
Production and property taxes 615 443 1,048 855
General and administrative 2,542 1,748 5,491 3,494
General and administrative - related party reimbursement (1,096) (225) (2,213) (300)
Depreciation, depletion and amortization 1,979 662 3,471 1,234
Accretion of asset retirement obligations 162 78 303 155
Total expenses 9,670 4,732 16,511 9,159
Operating (loss) income (3,522) 1,445 (3,890) 4,211
Other income and (expense):        
Interest expense (1,201) (254) (2,203) (522)
Warrant derivative gain 853 225 1,683
Equity investment loss (7)
Gain on derecognized equity investment in affiliate - Carbon California     5,390  
Investment in affiliates 525 962
Total other (expense) income (676) 592 4,374 1,161
(Loss) income before income taxes (4,198) 2,037 484 5,372
Provision for income taxes
Net (loss) income before non-controlling interests (4,198) 2,037 484 5,372
Net (loss) income attributable to non-controlling interests (3,619) 33 (2,505) 76
Net (loss) income attributable to controlling interest $ (579) $ 2,004 $ 2,989 $ 5,296
Net income (loss) per common share:        
Basic $ (0.08) $ 0.36 $ 0.41 $ 0.95
Diluted $ (0.23) $ 0.17 $ 0.2 $ 0.56
Weighted average common shares outstanding:        
Basic 7,693 5,620 7,346 5,554
Diluted 7,693 6,588 7,662 6,458