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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Oil and gas production revenues $ 24,707,000 $ 13,972,000 $ 56,630,000 $ 34,517,000
Other 15,000 4,000 46,000 31,000
Revenues 24,722,000 13,976,000 56,676,000 34,548,000
Operating costs and expenses:        
Lease operating 4,089,000 4,599,000 11,628,000 13,609,000
Production and ad valorem taxes 2,045,000 1,200,000 4,823,000 3,602,000
Rig expense 0 192,000 0 534,000
Depreciation, depletion, and amortization 7,877,000 6,371,000 17,666,000 17,932,000
Proved property impairment 0 3,806,000 0 67,626,000
General and administrative (including stock-based compensation of $750, $768, $2,499 and $2,410, respectively) 5,057,000 2,760,000 10,692,000 8,238,000
Operating costs and expenses 19,068,000 18,928,000 44,809,000 111,541,000
Operating income (loss) 5,654,000 (4,952,000) 11,867,000 (76,993,000)
Other (income) expense:        
Interest income 0 0 1,000 1,000
Interest expense 868,000 960,000 1,876,000 3,350,000
Amortization of deferred financing fees 100,000 151,000 354,000 763,000
(Gain) loss on derivative contracts 5,456,000 (2,429,000) (10,375,000) 10,346,000
(Gain) on sale of non-oil and gas assets 0 (374,000) (102,000) (374,000)
Total other (income) expense 6,424,000 (1,692,000) (8,248,000) 14,084,000
Income (loss) before income tax (770,000) (3,260,000) 20,115,000 (91,077,000)
Income tax (expense) benefit 0 0 0 0
Net income (loss) $ (770,000) $ (3,260,000) $ 20,115,000 $ (91,077,000)
Net (loss) income per common share        
Net income (loss) per common share - basic (in usd per share $ 0.00 $ (0.02) $ 0.13 $ (0.77)
Net income (loss) per common share - diluted (in usd per share) $ 0.00 $ (0.02) $ 0.12 $ (0.77)
Weighted average shares outstanding:        
Weighted average shares outstanding, basic (shares) 163,508 133,546 160,031 118,274
Weighted average shares outstanding, diluted (shares) 163,508 133,546 161,597 118,274
Oil [Member]        
Revenues:        
Oil and gas production revenues $ 21,339,000 $ 12,713,000 $ 48,153,000 $ 31,380,000
Natural Gas [Member]        
Revenues:        
Oil and gas production revenues 1,873,000 1,014,000 4,918,000 2,444,000
Natural Gas Liquids [Member]        
Revenues:        
Oil and gas production revenues $ 1,495,000 $ 245,000 $ 3,559,000 $ 693,000