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Supplemental Quarterly Financial Information
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Supplemental Quarterly Financial Information
Supplemental Quarterly Financial Data
 
The following table summarizes results for each of the four quarters in the years ended 2016 and 2015.
 
 
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
Year
 
(In thousands, except per share)
Year Ended December 31, 2016
 

 
 

 
 

 
 

 
 

Total revenues(a)
$
30,314

 
$
42,195

 
$
55,438

 
$
161,464

 
$
289,411

Operating income (loss)(a)
$
(36,577
)
 
$
(33,565
)
 
$
(13,013
)
 
$
105,469

 
$
22,314

Net income (loss)
$
(35,261
)
 
$
(80,937
)
 
$
(148,776
)
 
$
(27,177
)
 
$
(292,151
)
Net income (loss) per common share(b):
 
 
 
 
 
 
 
 
 
Basic
$
(2.90
)
 
$
(6.65
)
 
$
(10.62
)
 
$
(1.54
)
 
$
(20.87
)
Diluted
$
(2.90
)
 
$
(6.65
)
 
$
(10.62
)
 
$
(1.54
)
 
$
(20.87
)
Weighted average common shares outstanding:
 
 
 
 
 
 
 
 
 
Basic
12,170

 
12,170

 
14,013

 
17,608

 
14,000

Diluted
12,170

 
12,170

 
14,013

 
17,608

 
14,000

Year Ended December 31, 2015
 
 
 
 
 
 
 
 
 
Total revenues
$
64,142

 
$
73,231

 
$
54,581

 
$
40,418

 
$
232,372

Operating income (loss)
$
(20,182
)
 
$
(11,058
)
 
$
(19,739
)
 
$
(62,456
)
 
$
(113,435
)
Net income (loss)
$
(18,232
)
 
$
(23,332
)
 
$
(9,423
)
 
$
(47,209
)
 
$
(98,196
)
Net income (loss) per common share(b):
 
 
 
 
 
 
 
 
 
Basic
$
(1.50
)
 
$
(1.92
)
 
$
(0.77
)
 
$
(3.88
)
 
$
(8.07
)
Diluted
$
(1.50
)
 
$
(1.92
)
 
$
(0.77
)
 
$
(3.88
)
 
$
(8.07
)
Weighted average common shares outstanding:
 
 
 
 
 
 
 
 
 
Basic
12,170

 
12,170

 
12,170

 
12,170

 
12,170

Diluted
12,170

 
12,170

 
12,170

 
12,170

 
12,170

______
 
 
 
 
 
 
 
 
 
(a)
Includes gains on sales of assets related to the sale of substantially all of our assets in the Giddings Area in East Central Texas in December 2016.
(b)
The sum of the individual quarterly net income (loss) per share amounts may not agree to the total for the year since each period’s computation is based on the weighted average number of common shares outstanding during each period.