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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenue:        
Commodity derivative gain (loss) $ 8,680 $ (6,022) $ (627) $ (6,647)
Other income 305 6 697 19
Total revenue 36,841 6,148 62,155 12,621
Expenses:        
Lease operating expenses 7,480 3,970 14,095 6,058
Pipeline operating expenses 2,950 6,035
Transportation and gathering costs 1,130 1,498 2,799 2,353
Production and property taxes 1,666 615 3,676 1,048
Marketing gas purchases 4,795 11,097
General and administrative 3,947 2,542 8,636 5,491
General and administrative - related party reimbursement (1,096) (2,213)
Depreciation, depletion and amortization 3,881 1,979 7,860 3,471
Accretion of asset retirement obligations 405 162 799 303
Total expenses 26,254 9,670 54,997 16,511
Operating income (loss) 10,587 (3,522) 7,158 (3,890)
Other income (expense):        
Interest expense, net (3,445) (1,201) (6,725) (2,203)
Warrant derivative gain 225
Gain on derecognized equity investment in affiliate - Carbon California 5,390
Investment in affiliates 21 525 40 962
Total other (expense) income (3,424) (676) (6,685) 4,374
Income (loss) before income taxes 7,163 (4,198) 473 484
Provision for income taxes
Net income (loss) before non-controlling interests and preferred shares 7,163 (4,198) 473 484
Net income (loss) attributable to non-controlling interests 934 (3,619) (1,656) (2,505)
Net income (loss) attributable to controlling interests before preferred shares 6,229 (579) 2,129 2,989
Net income attributable to preferred shares - preferred return 75 150
Net income (loss) attributable to common shares $ 6,154 $ (579) $ 1,979 $ 2,989
Net income (loss) per common share:        
Basic (in dollars per share) $ 0.79 $ (0.08) $ 0.26 $ 0.41
Diluted (in dollars per share) $ 0.75 $ (0.23) $ 0.24 $ 0.20
Weighted average common shares outstanding:        
Basic (in shares) 7,815 7,693 7,739 7,346
Diluted (in shares) 8,157 7,693 8,081 7,662
Natural gas sales [Member]        
Revenue:        
Total revenue $ 14,216 $ 3,523 $ 33,532 $ 7,462
Natural gas liquids [Member]        
Revenue:        
Total revenue 195 550 441 713
Oil sales [Member]        
Revenue:        
Total revenue 9,902 8,091 18,891 11,074
Transportation and handling [Member]        
Revenue:        
Total revenue 322 1,056
Marketing gas sales [Member]        
Revenue:        
Total revenue $ 3,221 $ 8,165