Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues        
Gain on sales of assets, net $ 77 $ 2 $ 118 $ 81
Total revenues 119,304 127,185 347,299 315,976
Operating expenses        
Lease operating 11,868 9,898 33,234 25,924
Gathering, processing and transportation 6,600 4,928 16,937 12,861
Production and ad valorem taxes 7,401 7,152 20,672 17,039
General and administrative 6,876 6,155 20,173 17,948
Depreciation, depletion and amortization 46,519 35,016 129,687 88,370
Total operating expenses 79,264 63,149 220,703 162,142
Operating income (loss) 40,040 64,036 126,596 153,834
Other income (expense)        
Interest expense (8,736) (7,322) (27,270) (18,073)
Derivatives 24,248 (40,689) (30,166) (111,725)
Other, net (248) 241 (134) 167
Income (loss) before income taxes 55,304 16,266 69,026 24,203
Income tax benefit (expense) (942) 10 (1,736) (153)
Net income (loss) attributable to common shareholders $ 54,362 $ 16,276 $ 67,290 $ 24,050
Net income (loss) per share:        
Basic (in dollars per share) $ 3.60 $ 1.08 $ 4.45 $ 1.60
Diluted (in dollars per share) $ 3.59 $ 1.06 $ 4.44 $ 1.57
Weighted average shares outstanding – basic (in shares) 15,110 15,062 15,105 15,054
Weighted average shares outstanding – diluted (in shares) 15,160 15,344 15,165 15,278
Oil and Gas, Exploration and Production [Member]        
Revenues        
Revenues $ (110,618) $ (117,059) $ (319,461) $ (290,033)
Oil and Condensate [Member]        
Revenues        
Revenues (3,546) (5,976) (12,596) (14,455)
Natural Gas, Production [Member]        
Revenues        
Revenues (4,215) (3,768) (13,782) (10,470)
Product and Service, Other [Member]        
Revenues        
Revenues $ 848 $ (380) $ (1,342) $ (937)