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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues:              
Total revenue $ 203,906 $ 95,426 $ 349,756 $ 197,250 $ 412,828 $ 258,754 $ 315,606
Operating expenses:              
Direct lease operating expense 34,060 28,871 58,975 56,735 109,180 124,360 171,095
Insurance 4,259 2,688 6,934 5,409 10,743 13,101 17,965
Production taxes 564 380 955 645 1,460 1,958 3,311
Total lease operating expense 38,883 31,939 66,864 62,789 121,383 139,419 192,371
Workover and maintenance expense 17,714 8,225 24,619 17,047 32,825 24,810 29,752
Depreciation, depletion and amortization 67,726 36,157 116,766 76,088 157,352 124,689 212,689
Accretion expense 9,492 5,321 14,252 10,509 19,295 21,829 19,395
General and administrative expense 30,880 7,470 39,460 17,216 36,673 28,686 35,662
Total operating expenses 164,695 89,112 261,961 183,649 367,528 339,433 1,093,257
Operating income (loss) 39,211 6,314 87,795 13,601 45,300 (80,679) (777,651)
Insurance 4,259 2,688 6,934 5,409 10,743 13,101 17,965
Production taxes 564 380 955 645 1,460 1,958 3,311
Write-down of oil and natural gas properties under ceiling test 0 0 0 0 603,388
Interest expense (21,678) (20,805) (41,420) (39,577) (80,934) (70,415) (51,544)
Price risk management activities income (expense) (91,176) [1] 38,995 [1] (143,152) [1] 84,888 [1] (27,563) [2] (57,398) [2] 182,196 [2]
Other income (expense) (1,269) 103 (1,078) 157 329 405 314
Total other income (expense) (114,123) 18,293 (185,650) 45,468      
Income (loss) before income taxes (74,912) 24,607 (97,855) 59,069      
Net income (loss) $ (74,912) $ 24,607 $ (97,855) $ 59,069 $ (62,868) $ (208,087) $ (646,685)
Net income (loss) per common share:              
Basic $ (1.69) $ 0.79 $ (2.59) $ 1.89 $ (2.01) $ (7.99) $ (26.20)
Diluted $ (1.69) $ 0.79 $ (2.59) $ 1.89 $ (2.01) $ (7.99) $ (26.20)
Weighted average common shares outstanding:              
Basic 44,336,000 31,244,000 37,826,000 31,244,000 31,244 26,036 24,685
Diluted 44,336,000 31,244,000 37,826,000 31,244,000 31,244 26,036 24,685
Oil Revenue              
Revenues:              
Revenue $ 180,161 $ 78,719 $ 307,854 $ 162,487 $ 344,781 $ 197,583 $ 244,167
Natural Gas Revenue              
Revenues:              
Revenue 16,448 12,888 29,171 26,062 48,886 42,705 55,026
NGL Revenue              
Revenues:              
Revenue $ 7,297 3,436 $ 12,731 7,069 16,658 9,532 10,523
Other              
Revenues:              
Revenue   $ 383   $ 1,632 $ 2,503 $ 8,934 $ 5,890
[1] The Company paid $33.6 million and received $9.2 million in net cash settlements for the three months ended June 30, 2018 and 2017, respectively, and paid $54.1 million and received $13.7 million in net cash settlements for the six months ended June 30, 2018 and 2017, respectively.
[2] The Company received net cash settlements of $23.8 million, $172.2 million and $181.9 million for the years ended December 31, 2017, 2016 and 2015, respectively.