Quarterly report pursuant to Section 13 or 15(d)

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.21.1
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)
3 Months Ended
Mar. 31, 2021
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 months ended March 31, 2021 and 2020 are as follows:
  Three Months Ended
March 31,
(In thousands, except share and per share data) 2021 2020
Net Income (Loss) $ (90,357) $ 368,286 
Less: Cumulative Dividends on Preferred Stock (3,830) (3,729)
Net Income (Loss) Attributable to Common Stock $ (94,188) $ 364,557 
Weighted Average Common Shares Outstanding:
Weighted Average Common Shares Outstanding – Basic 54,538,099  40,366,253 
Plus: Dilutive Effect of Restricted Stock —  35,470 
Plus: Dilutive Effect of Preferred Shares —  9,319,541 
Weighted Average Common Shares Outstanding – Diluted 54,538,099  49,721,264 
Net Income (Loss) per Common Share:
Basic $ (1.73) $ 9.03 
Diluted $ (1.73) $ 7.33 
Shares Excluded from EPS Due to Anti-Dilutive Effect:
Restricted Stock 120,039  143,818 
Preferred Stock 9,881,580  — 
Supplemental cash flow activity
The following reflects the Company’s supplemental cash flow information:
Three Months Ended March 31,
(In thousands) 2021 2020
Supplemental Cash Items:
Cash Paid During the Period for Interest, Net of Amount Capitalized $ 12,525  $ 15,990 
Cash Paid During the Period for Income Taxes —  — 
Non-cash Investing Activities:
Oil and Natural Gas Properties Included in Accounts Payable and Accrued Liabilities 91,072  143,220 
Capitalized Asset Retirement Obligations 205  259 
Compensation Capitalized on Oil and Gas Properties 147  184 
Non-cash Financing Activities:
Issuance of Preferred Stock for 2L Notes Repurchase —  81,212