v3.22.2
CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Revenue from Contract with Customer, Product and Service [Extensible Enumeration] Oil and Gas Sales Oil and Gas Sales Oil and Gas Sales Oil and Gas Sales
Oil and Gas Sales $ 549,643 $ 225,717 $ 1,006,101 $ 383,049
Loss on Commodity Derivatives, Net (108,197) (200,912) (597,585) (336,847)
Total Revenues 441,446 24,805 408,516 46,202
Operating Expenses        
Production Expenses 64,642 42,699 119,181 77,010
Production Taxes 43,840 18,514 78,455 31,967
General and Administrative Expense 8,064 7,604 21,879 14,388
Depletion, Depreciation, Amortization and Accretion 54,796 30,908 107,980 62,128
Total Operating Expenses 171,342 99,725 327,495 185,493
Income (Loss) From Operations 270,104 (74,920) 81,021 (139,291)
Other Income (Expense)        
Interest Expense, Net of Capitalization (18,410) (15,024) (36,388) (28,534)
Gain on Unsettled Interest Rate Derivatives, Net 524 121 1,815 362
Gain (Loss) on Extinguishment of Debt, Net 236 (494) 236 (13,087)
Contingent Consideration Loss 0 (250) 0 (375)
Other Income (Expense) (185) 4 (185) 5
Total Other Income (Expense) (17,835) (15,643) (34,522) (41,629)
Income (Loss) Before Income Taxes 252,269 (90,563) 46,499 (180,920)
Income Tax Provision (Benefit) 1,006 0 1,795 0
Net Income (Loss) 251,264 (90,563) 44,704 (180,920)
Cumulative Preferred Stock Dividend (2,810) (3,719) (5,826) (7,550)
Premium on Repurchase of Preferred Stock (10,363) 0 (25,320) 0
Net Income (Loss) Attributable to Common Stockholders $ 238,091 $ (94,282) $ 13,558 $ (188,470)
Net Income (Loss) Per Common Share - Basic (in dollars per share) $ 3.08 $ (1.55) $ 0.18 $ (3.27)
Net Income (Loss) Per Common Share - Diluted (in dollars per share) $ 2.74 $ (1.55) $ 0.17 $ (3.27)
Weighted Average Common Shares Outstanding – Basic (in shares) 77,366,704 60,694,795 77,145,851 57,633,454
Weighted Average Common Shares Outstanding - Diluted (in shares) 86,788,465 60,694,795 78,795,832 57,633,454

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