Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Other income (expense)        
Income tax benefit (expense) $ 0   $ 0  
Net income (loss)     49,410  
Successor [Member]        
Revenues        
Crude oil 32,351   62,424  
Natural gas liquids 2,043   4,345  
Natural gas 1,880   4,223  
(Loss) gain on sales of assets, net (134)   (69)  
Other, net 142   345  
Total revenues 36,282   71,268  
Operating expenses        
Lease operating 5,370   10,286  
Gathering, processing and transportation 2,555   5,106  
Production and ad valorem taxes 2,119   4,098  
General and administrative 3,721   7,848  
Exploration 0   0  
Depreciation, depletion and amortization 11,076   20,886  
Total operating expenses 24,841   48,224  
Operating income (loss) 11,441   23,044  
Other income (expense)        
Interest expense (1,274)   (1,812)  
Derivatives 11,061   28,077  
Other, net 101   101  
Reorganization items, net 0   0  
Income (loss) before income taxes 21,329   49,410  
Net income (loss) 21,329   49,410  
Preferred stock dividends 0   0  
Net income (loss) attributable to common shareholders $ 21,329   $ 49,410  
Net income (loss) per share:        
Basic (in dollars per share) $ 1.42   $ 3.30  
Diluted (in dollars per share) $ 1.42   $ 3.27  
Weighted average shares outstanding – basic (in shares) 14,992   14,992  
Weighted average shares outstanding – diluted (in shares) 15,050   15,097  
Predecessor [Member]        
Revenues        
Crude oil   $ 32,019   $ 57,985
Natural gas liquids   2,431   4,384
Natural gas   1,917   4,319
(Loss) gain on sales of assets, net   910   757
Other, net   (125)   204
Total revenues   37,152   67,649
Operating expenses        
Lease operating   5,225   11,417
Gathering, processing and transportation   4,650   8,468
Production and ad valorem taxes   2,163   2,916
General and administrative   14,948   32,050
Exploration   4,320   5,647
Depreciation, depletion and amortization   11,746   25,558
Total operating expenses   43,052   86,056
Operating income (loss)   (5,900)   (18,407)
Other income (expense)        
Interest expense   (32,221)   (56,655)
Derivatives   (21,759)   (17,267)
Other, net   (6)   (1,030)
Reorganization items, net   (7,380)   (7,380)
Income (loss) before income taxes   (67,266)   (100,739)
Income tax benefit (expense)   0   0
Net income (loss)   (67,266)   (100,739)
Preferred stock dividends   (2,820)   (5,972)
Net income (loss) attributable to common shareholders   $ (70,086)   $ (106,711)
Net income (loss) per share:        
Basic (in dollars per share)   $ (0.79)   $ (1.22)
Diluted (in dollars per share)   $ (0.79)   $ (1.22)
Weighted average shares outstanding – basic (in shares)   89,051   87,496
Weighted average shares outstanding – diluted (in shares)   89,051   87,496