Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF OPERATIONS

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STATEMENTS OF OPERATIONS - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues      
Gain (Loss) on Derivative Instruments, Net $ 228,141,000 $ (128,837,000) $ 185,006,000
Total Revenues 552,210,000 472,402,000 678,924,000
Operating Expenses      
Production Expenses 116,336,000 118,899,000 66,646,000
Production Taxes 29,783,000 57,771,000 45,302,000
General and Administrative Expenses 18,546,000 23,624,000 14,568,000
Depletion, Depreciation, Amortization and Accretion 162,120,000 210,201,000 119,780,000
Impairment of Other Current Assets 0 6,398,000 0
Impairment Expense 1,066,668,000 0 0
Total Operating Expenses 1,393,453,000 416,893,000 246,296,000
Income (Loss) From Operations (841,243,000) 55,509,000 432,628,000
Other Income (Expense)      
Interest Expense, Net of Capitalization (58,503,000) (79,229,000) (86,005,000)
Write-off of Debt Issuance Costs (1,543,000) 0 0
Loss on Unsettled Interest Rate Derivatives (1,019,000) 0 0
(Gain) Loss on Extinguishment of Debt (3,718,000) (23,187,000) (173,430,000)
Debt Exchange Derivative Gain (Loss) 0 1,390,000 (598,000)
Contingent Consideration Loss (169,000) (29,512,000) (28,968,000)
Financing Expense 0 (1,447,000) (884,000)
Other Income (Expense) (12,000) 158,000 891,000
Total Other Income (Expense) (64,964,000) (131,827,000) (288,994,000)
Income (Loss) Before Income Taxes (906,207,000) (76,318,000) 143,634,000
Income Tax Benefit (166,000) 0 (55,000)
Net Income (Loss) (906,041,000) (76,318,000) 143,689,000
Cumulative Preferred Stock Dividend (15,266,000) (1,029,000) 0
Net Income (Loss) Attributable to Common Stock $ (921,307,000) $ (77,347,000) $ 143,689,000
Net Income (Loss) Per Common Share - Basic (in dollars per share) [1] $ (21.55) $ (2.00) $ 6.08
Net Income (Loss) Per Common Share - Diluted (in dollars per share) [1] $ (21.55) $ (2.00) $ 6.07
Weighted Average Shares Outstanding - Basic (in shares) [1] 42,744,639 38,708,460 23,620,646
Weighted Average Shares Outstanding - Diluted (in shares) [1] 42,744,639 38,708,460 23,677,391
Oil and Gas Sales      
Revenues      
Revenues $ 324,052,000 $ 601,218,000 $ 493,909,000
Other Revenue      
Revenues      
Revenues $ 17,000 $ 21,000 $ 9,000
[1] Adjusted for the 1-for-10 reverse stock split effected on September 18, 2020.