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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Oil and gas production revenues $ 13,136,000 $ 11,004,000 $ 31,923,000 $ 20,545,000
Other 16,000 4,000 31,000 27,000
Revenues 13,152,000 11,008,000 31,954,000 20,572,000
Operating costs and expenses:        
Lease operating 3,421,000 4,259,000 7,539,000 9,010,000
Production and ad valorem taxes 1,158,000 1,227,000 2,778,000 2,402,000
Rig expense 0 263,000 0 342,000
Depreciation, depletion, and amortization 4,415,000 5,669,000 9,789,000 11,561,000
Proved property impairment 0 28,735,000 0 63,820,000
General and administrative (including stock-based compensation of $979, $835, $1,749 and $1,643, respectively) 2,898,000 2,753,000 5,635,000 5,478,000
Operating costs and expenses 11,892,000 42,906,000 25,741,000 92,613,000
Operating income (loss) 1,260,000 (31,898,000) 6,213,000 (72,041,000)
Other (income) expense:        
Interest income 1,000 1,000 1,000 1,000
Interest expense 501,000 1,152,000 1,008,000 2,390,000
Amortization of deferred financing fees 117,000 448,000 254,000 612,000
(Gain) loss on derivative contracts (6,450,000) 13,440,000 (15,831,000) 12,775,000
(Gain) on sale of assets (102,000) 0 (102,000) 0
Total other (income) expense (5,935,000) 15,039,000 (14,672,000) 15,776,000
Income (loss) before income tax 7,195,000 (46,937,000) 20,885,000 (87,817,000)
Income tax (expense) benefit 0 0 0 0
Net income (loss) $ 7,195,000 $ (46,937,000) $ 20,885,000 $ (87,817,000)
Net (loss) income per common share        
Net income (loss) per common share - basic (in usd per share $ 0.04 $ (0.40) $ 0.13 $ (0.80)
Net income (loss) per common share - diluted (in usd per share) $ 0.04 $ (0.40) $ 0.13 $ (0.80)
Weighted average shares outstanding:        
Weighted average shares outstanding, basic (shares) 162,357 116,120 158,259 110,415
Weighted average shares outstanding, diluted (shares) 163,805 116,120 159,942 110,415