Quarterly report pursuant to Section 13 or 15(d)

SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.8.0.1
SIGNIFICANT ACCOUNTING POLICIES (Tables)
3 Months Ended
Mar. 31, 2018
Accounting Policies [Abstract]  
Capitalized costs related to the exploration and development of crude oil and natural gas properties
Capitalized costs are summarized as follows for the three months ended March 31, 2018 and 2017, respectively.

 
Three Months Ended
March 31,
 
2018
 
2017
Capitalized Certain Payroll and Other Internal Costs
$
170,850

 
$
204,873

Capitalized Interest Costs
35,065

 
38,768

Total
$
205,915

 
$
243,641

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, 2018 and 2017 are as follows:
 
Three Months Ended
March 31,
 
2018
 
2017
Weighted Average Common Shares Outstanding – Basic
65,215,148

 
61,446,156

Plus: Potentially Dilutive Common Shares Including Stock Options and Restricted Stock
167,624

 
525,967

Weighted Average Common Shares Outstanding – Diluted
65,382,772

 
61,972,123

 
 
 
 
Restricted Stock and Stock Options Excluded From EPS Due To The Anti-Dilutive Effect
67,026

 
124,018