XML 15 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenues:    
Oil and gas production revenues $ 40,594,000 $ 18,787,000
Other 36,000 15,000
Revenues 40,630,000 18,802,000
Operating costs and expenses:    
Lease operating 4,569,000 4,118,000
Production and ad valorem taxes 3,113,000 1,620,000
Depreciation, depletion, and amortization 10,130,000 5,374,000
General and administrative (including stock-based compensation of $586 and $770, respectively) 2,728,000 2,737,000
Operating costs and expenses 20,540,000 13,849,000
Operating income 20,090,000 4,953,000
Other (income) expense:    
Interest expense 1,329,000 507,000
Amortization of deferred financing fees 96,000 137,000
Loss (gain) on derivative contracts 7,883,000 (9,381,000)
Loss on sale of non-oil and gas assets 3,000 0
Total other (income) expense 9,311,000 (8,737,000)
Income before income tax 10,779,000 13,690,000
Income tax (expense) benefit 0 0
Net income $ 10,779,000 $ 13,690,000
Net (loss) income per common share    
Net income (loss) per common share - basic (in usd per share $ 0.07 $ 0.09
Net income (loss) per common share - diluted (in usd per share) $ 0.06 $ 0.09
Weighted average shares outstanding:    
Weighted average shares outstanding, basic (shares) 165,133 154,118
Weighted average shares outstanding, diluted (shares) 167,243 156,813
Oil [Member]    
Revenues:    
Oil and gas production revenues $ 35,994,000 $ 15,502,000
Natural Gas [Member]    
Revenues:    
Oil and gas production revenues 2,377,000 1,982,000
Natural Gas Liquids [Member]    
Revenues:    
Oil and gas production revenues $ 2,223,000 $ 1,303,000