Quarterly report pursuant to Section 13 or 15(d)

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.21.2
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 2021
Accounting Policies [Abstract]  
Disaggregation of Revenue The following tables present the disaggregation of the Company’s oil revenues and natural gas and NGL revenues by basin for the three and six months ended June 30, 2021 and 2020.
  Three Months Ended
June 30, 2021
Three Months Ended
June 30, 2020
(In thousands) Williston Permian Appalachian Total Williston Permian Appalachian Total
Oil Revenues $ 181,872  $ 2,745  $ —  $ 184,617  $ 28,784  $ —  $ —  $ 28,784 
Natural Gas and NGL Revenues 29,855  210  11,035  41,100  (8,120) —  —  (8,120)
Total $ 211,727  $ 2,955  $ 11,035  $ 225,717  $ 20,664  $ —  $ —  $ 20,664 

  Six Months Ended
June 30, 2021
Six Months Ended
June 30, 2020
(In thousands) Williston Permian Appalachian Total Williston Permian Appalachian Total
Oil Revenues $ 315,373  $ 4,543  $ —  $ 319,916  $ 145,116  $ —  $ —  $ 145,116 
Natural Gas and NGL Revenues 51,763  334  11,035  63,132  5,744  —  —  5,744 
Total $ 367,136  $ 4,877  $ 11,035  $ 383,048  $ 150,860  $ —  $ —  $ 150,860 
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, 2021 and 2020 are as follows:
  Three Months Ended
June 30,
Six Months Ended
June 30,
(In thousands, except share and per share data) 2021 2020 2021 2020
Net Income (Loss) $ (90,563) $ (899,200) $ (180,920) $ (530,914)
Less: Cumulative Dividends on Preferred Stock (3,719) (3,788) (7,550) (7,517)
Net Income (Loss) Attributable to Common Stock $ (94,282) $ (902,988) $ (188,470) $ (538,431)
Weighted Average Common Shares Outstanding:
Weighted Average Common Shares Outstanding – Basic 60,694,795  41,535,604  57,633,454  40,950,929 
Plus: Dilutive Effect of Restricted Stock and Warrants —  —  —  — 
Plus: Dilutive Effect of Preferred Shares —  —  —  — 
Weighted Average Common Shares Outstanding – Diluted 60,694,795  41,535,604  57,633,454  40,950,929 
Net Income (Loss) per Common Share:
Basic $ (1.55) $ (21.74) $ (3.27) $ (13.15)
Diluted $ (1.55) $ (21.74) $ (3.27) $ (13.15)
Shares Excluded from EPS Due to Anti-Dilutive Effect:
Restricted Stock and Warrants 135,983  30,163  128,055  40,005 
Preferred Stock 9,698,756  100,208,753  9,698,756  96,747,545 
Supplemental Cash Flow Information
The following reflects the Company’s supplemental cash flow information:
Six Months Ended June 30,
(In thousands) 2021 2020
Supplemental Cash Items:
Cash Paid During the Period for Interest, Net of Amount Capitalized $ 26,547  $ 29,117 
Cash Paid During the Period for Income Taxes —  — 
Non-cash Investing Activities:
Oil and Natural Gas Properties Included in Accounts Payable and Accrued Liabilities 101,018  92,537 
Capitalized Asset Retirement Obligations 7,982  294 
Contingent Consideration 354  — 
Compensation Capitalized on Oil and Gas Properties 219  284 
Issuance of Common Stock - Acquisitions of Oil and Natural Gas Properties 30,512  — 
Non-cash Financing Activities:
Common Stock Dividends Declared 1,985  — 
Issuance of Common Stock for Second Lien Notes Repurchase —  29,615 
Issuance of Preferred Stock for Second Lien Notes Repurchase —  81,212