Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED)

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CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues        
Revenues $ 225,717,000 $ 20,664,000 $ 383,048,000 $ 150,860,000
Gain (Loss) on Commodity Derivatives, Net (200,912,000) (72,638,000) (336,847,000) 303,943,000
Total Revenues 24,805,000 (51,971,000) 46,202,000 454,815,000
Operating Expenses        
Production Expenses 42,699,000 26,638,000 77,010,000 63,974,000
Production Taxes 18,514,000 1,917,000 31,967,000 13,813,000
General and Administrative Expense 7,604,000 4,710,000 14,388,000 9,580,000
Depletion, Depreciation, Amortization and Accretion 30,908,000 36,756,000 62,128,000 98,565,000
Impairment Expense 0 762,716,000 0 762,716,000
Total Operating Expenses 99,725,000 832,737,000 185,493,000 948,648,000
Loss From Operations (74,920,000) (884,708,000) (139,291,000) (493,833,000)
Other Income (Expense)        
Interest Expense, Net of Capitalization (15,024,000) (13,957,000) (28,534,000) (30,508,000)
Gain (Loss) on Unsettled Interest Rate Derivatives, Net 121,000 (752,000) 362,000 (1,429,000)
Gain (Loss) on Extinguishment of Debt, Net (494,000) 217,000 (13,087,000) (5,310,000)
Contingent Consideration Loss (250,000) 0 (375,000) 0
Other Income (Expense) 4,000 0 5,000 0
Total Other Income (Expense) (15,643,000) (14,492,000) (41,629,000) (37,247,000)
Loss Before Income Taxes (90,563,000) (899,200,000) (180,920,000) (531,080,000)
Income Tax Provision (Benefit) 0 0 0 (166,000)
Net Loss (90,563,000) (899,200,000) (180,920,000) (530,914,000)
Cumulative Preferred Stock Dividend (3,719,000) (3,788,000) (7,550,000) (7,517,000)
Net Loss Attributable to Common Stockholders $ (94,282,000) $ (902,988,000) $ (188,470,000) $ (538,431,000)
Net Loss Per Common Share - Basic (in dollars per share) [1] $ (1.55) $ (21.74) $ (3.27) $ (13.15)
Net Loss Per Common Share - Diluted (in dollars per share) [1] $ (1.55) $ (21.74) $ (3.27) $ (13.15)
Weighted Average Common Shares Outstanding – Basic (in shares) [1] 60,694,795 41,535,604 57,633,454 40,950,929
Weighted Average Common Shares Outstanding - Diluted (in shares) [1] 60,694,795 41,535,604 57,633,454 40,950,929
Oil and Gas Sales        
Revenues        
Revenues $ 225,717,000 $ 20,664,000 $ 383,048,000 $ 150,860,000
Other Revenue        
Revenues        
Revenues $ 0 $ 3,000 $ 1,000 $ 12,000
[1] Adjusted for the 1-for-10 reverse stock split. See Note 5.