Quarterly report pursuant to Section 13 or 15(d)

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.20.2
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Reconciliation of denominators used to calculate basic and diluted EPS
The reconciliation of the denominators used to calculate basic EPS and diluted EPS for the three and six months ended June 30, 2020 and 2019 are as follows:

  Three Months Ended
June 30,
Six Months Ended
June 30,
(In thousands, except share and per share data) 2020 2019 2020 2019
Net Income (Loss) $ (899,200)   $ 44,399    $ (530,914)   $ (62,762)  
Less: Cumulative Dividends on Preferred Stock (3,788)   —    (7,517)   —   
Net Income (Loss) Attributable to Common Stock $ (902,988)   $ 44,399    (538,431)   (62,762)  
Weighted Average Common Shares Outstanding:
Weighted Average Common Shares Outstanding – Basic 415,356,043    378,368,462    409,509,292    374,927,630   
Plus: Dilutive Effect of Restricted Stock —    356,049    —    —   
Plus: Dilutive Effect of Preferred Shares —    —    —    —   
Weighted Average Common Shares Outstanding – Diluted 415,356,043    378,724,511    409,509,292    374,927,630   
Net Income (Loss) per Common Share:
Basic $ (2.17)   $ 0.12    $ (1.31)   $ (0.17)  
Diluted $ (2.17)   $ 0.12    $ (1.31)   $ (0.17)  
Shares Excluded from EPS Due to Anti-Dilutive Effect:
Restricted Stock 301,625    20,812    400,051    825,184   
Preferred Stock 100,208,753    —    96,747,545    —   
Supplemental cash flow activity
The following reflects the Company’s supplemental cash flow information:

Six Months Ended June 30,
(In thousands) 2020 2019
Supplemental Cash Items:
Cash Paid During the Period for Interest, Net of Amount Capitalized $ 29,117    $ 34,403   
Non-cash Investing Activities:
Oil and Natural Gas Properties Included in Accounts Payable and Accrued Liabilities 92,537    151,145   
Capitalized Asset Retirement Obligations 294    470   
Compensation Capitalized on Oil and Gas Properties 284    190   
Non-cash Financing Activities:
Issuance of 8.50% Second Lien Notes due 2023 - PIK Interest
—    3,480   
Issuance of Common Stock for 2L Notes Repurchase 29,615    —   
Issuance of Preferred Stock for 2L Notes Repurchase 81,212    —   
Debt Exchange Derivative Liability Settlements —    12,192   
Contingent Consideration Settlements —    21,462