v3.24.2.u1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUES:        
Net (loss) gain on natural gas, oil and NGL derivatives $ (8,615) $ 96,788 $ 36,521 $ 474,849
Total revenues 181,117 304,706 464,346 1,035,927
OPERATING EXPENSES:        
Lease operating expenses 15,817 16,155 32,625 36,017
Taxes other than income 7,018 7,938 15,278 18,633
Transportation, gathering, processing and compression 86,529 85,664 173,148 173,281
Depreciation, depletion and amortization 78,553 80,148 158,576 159,242
General and administrative expenses 10,752 8,611 19,950 17,344
Restructuring costs 0 2,893 0 4,762
Accretion expense 567 714 1,122 1,478
Total operating expenses 199,236 202,123 400,699 410,757
(LOSS) INCOME FROM OPERATIONS (18,119) 102,583 63,647 625,170
OTHER EXPENSE (INCOME):        
Interest expense 15,158 13,727 30,161 27,483
Other, net 522 (4,831) 397 (19,054)
Total other expense 15,680 8,896 30,558 8,429
(LOSS) INCOME BEFORE INCOME TAXES (33,799) 93,687 33,089 616,741
INCOME TAX BENEFIT:        
Current 0 0 0 0
Deferred income tax expense (7,587) 0 7,266 0
Total income tax benefit (7,587) 0 7,266 0
NET (LOSS) INCOME (26,212) 93,687 25,823 616,741
Dividends on preferred stock (1,095) (1,278) (2,200) (2,585)
Participating securities - preferred stock 0 (14,044) (3,469) (92,611)
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (27,307) $ 78,365 $ 20,154 $ 521,545
NET (LOSS) INCOME PER COMMON SHARE:        
Basic (in usd per share) $ (1.51) $ 4.23 $ 1.11 $ 27.91
Diluted (in usd per share) $ (1.51) $ 4.18 $ 1.09 $ 27.60
Weighted average common shares outstanding - Basic (in shares) 18,144 18,518 18,169 18,688
Weighted average common shares outstanding - Diluted (in shares) 18,144 18,805 18,573 18,930
Natural gas sales        
REVENUES:        
Revenue from contract with customer $ 144,458 $ 159,246 $ 332,744 $ 441,780
Oil and condensate sales        
REVENUES:        
Revenue from contract with customer 19,127 22,602 40,828 53,316
Natural gas liquid sales        
REVENUES:        
Revenue from contract with customer $ 26,147 $ 26,070 $ 54,253 $ 65,982

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