Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF OPERATIONS

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CONDENSED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Gain (Loss) on Commodity Derivatives, Net $ (72,638) $ 36,591 $ 303,943 $ (103,031)
Total Revenues (51,971) 186,440 454,815 179,506
Operating Expenses        
Production Expenses 26,638 26,132 63,974 50,799
Production Taxes 1,917 14,034 13,813 26,553
General and Administrative Expense 4,710 5,250 9,580 11,300
Depletion, Depreciation, Amortization and Accretion 36,756 46,091 98,565 91,225
Impairment of Other Current Assets 0 2,694 0 2,694
Impairment Expense 762,716 0 762,716 0
Total Operating Expenses 832,737 94,200 948,648 182,571
Income (Loss) From Operations (884,708) 92,239 (493,833) (3,065)
Other Income (Expense)        
Interest Expense, Net of Capitalization (13,957) (17,778) (30,508) (37,327)
Loss on Unsettled Interest Rate Derivatives, Net (752) 0 (1,429) 0
Gain (Loss) on Extinguishment of Debt, Net 217 (425) (5,310) (425)
Debt Exchange Derivative Gain/(Loss) 0 (4,873) 0 1,413
Contingent Consideration Loss 0 (24,763) 0 (23,371)
Other Income (Expense) 0 (1) 0 14
Total Other Income (Expense) (14,492) (47,840) (37,247) (59,696)
Income (Loss) Before Income Taxes (899,200) 44,399 (531,080) (62,762)
Income Tax Provision (Benefit) 0 0 (166) 0
Net Income (Loss) (899,200) 44,399 (530,914) (62,762)
Cumulative Preferred Stock Dividend (3,788) 0 (7,517) 0
Net Income (Loss) Attributable to Common Shareholders $ (902,988) $ 44,399 $ (538,431) $ (62,762)
Net Income (Loss) Per Common Share - Basic (in dollars per share) $ (2.17) $ 0.12 $ (1.31) $ (0.17)
Net Income (Loss) Per Common Share - Diluted (in dollars per share) $ (2.17) $ 0.12 $ (1.31) $ (0.17)
Weighted Average Shares Outstanding - Basic (in shares) 415,356,043 378,368,462 409,509,292 374,927,630
Weighted Average Shares Outstanding - Diluted (in shares) 415,356,043 378,724,511 409,509,292 374,927,630
Oil and Gas Sales        
Revenues        
Revenue $ 20,664 $ 149,847 $ 150,860 $ 282,530
Other Revenue        
Revenues        
Revenue $ 3 $ 2 $ 12 $ 7