Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF OPERATIONS

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CONDENSED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
REVENUES        
Gain (Loss) on Derivative Instruments, Net $ (42,202,788) $ 16,513,032 $ (62,474,239) $ 33,473,915
Total Revenues 66,845,899 64,901,882 133,459,362 130,718,733
OPERATING EXPENSES        
Production Expenses 14,548,922 12,137,540 27,037,344 23,811,889
Production Taxes 10,131,843 4,439,774 18,054,157 8,901,040
General and Administrative Expenses 3,251,239 4,317,139 4,918,114 7,926,083
Depletion, Depreciation, Amortization and Accretion 22,596,028 13,682,452 41,226,657 26,510,595
Total Operating Expenses 50,528,032 34,576,905 91,236,272 67,149,607
INCOME FROM OPERATIONS 16,317,867 30,324,977 42,223,090 63,569,126
OTHER INCOME (EXPENSE)        
Interest Expense, Net of Capitalization (22,403,373) (16,428,164) (45,510,134) (32,731,970)
Write-off of Debt Issuance Costs 0 (95,135) 0 (95,135)
Loss on the Extinguishment of Debt (90,832,975) 0 (90,832,975) 0
Other Income 371,783 181 538,418 361
Total Other Income (Expense) (112,864,565) (16,523,118) (135,804,691) (32,826,744)
INCOME (LOSS) BEFORE INCOME TAXES (96,546,698) 13,801,859 (93,581,601) 30,742,382
INCOME TAX PROVISION (BENEFIT) 0 0 0 0
NET INCOME (LOSS) $ (96,546,698) $ 13,801,859 $ (93,581,601) $ 30,742,382
Net Income (Loss) Per Common Share - Basic (in dollars per share) $ (0.49) $ 0.22 $ (0.71) $ 0.50
Net Income (Loss) Per Common Share - Diluted (in dollars per share) $ (0.49) $ 0.22 $ (0.71) $ 0.50
Weighted Average Shares Outstanding - Basic (in shares) 196,140,610 61,643,862 131,039,552 61,545,555
Weighted Average Shares Outstanding - Diluted (in shares) 196,140,610 61,885,952 131,039,552 61,928,799
Oil, Natural Gas, and NGL Sales        
REVENUES        
Revenue from contract with customer, excluding assessed tax $ 109,046,878 $ 48,381,006 $ 195,927,692 $ 97,229,228
Other Revenue        
REVENUES        
Revenue from contract with customer, excluding assessed tax $ 1,809 $ 7,844 $ 5,909 $ 15,590