Income Statement

v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS – UNAUDITED - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Total revenues and other $ 314,491,000 $ 124,699,000 $ 570,946,000 $ 213,254,000
Operating expenses        
Lease operating 18,908,000 9,728,000 37,010,000 18,553,000
Gathering, processing and transportation 8,638,000 5,173,000 17,678,000 9,847,000
Production and ad valorem taxes 16,774,000 6,721,000 29,914,000 12,234,000
General and administrative 10,635,000 6,985,000 20,414,000 20,162,000
Depreciation, depletion and amortization 54,290,000 28,795,000 105,183,000 52,679,000
Impairments of oil and gas properties 0 0 0 1,811,000
Total operating expenses 109,245,000 57,402,000 210,199,000 115,286,000
Operating income 205,246,000 67,297,000 360,747,000 97,968,000
Other income (expense)        
Interest expense, net of amounts capitalized (11,038,000) (5,303,000) (21,735,000) (10,700,000)
Gain (loss) on extinguishment of debt 0 0 2,157,000 (1,231,000)
Derivative losses (44,942,000) (54,227,000) (212,829,000) (98,595,000)
Other, net 82,000 0 158,000 (6,000)
Income (loss) before income taxes 149,348,000 7,767,000 128,498,000 (12,564,000)
Income tax benefit (expense) (1,308,000) (171,000) (1,119,000) 139,000
Net income (loss) 148,040,000 7,596,000 127,379,000 (12,425,000)
Net (income) loss attributable to Noncontrolling interest (76,856,000) (4,551,000) (66,180,000) 1,898,000
Net income (loss) attributable to common shareholders $ 71,184,000 $ 3,045,000 $ 61,199,000 $ (10,527,000)
Net income (loss) per share attributable to common shareholders:        
Basic (in dollars per share) $ 3.41 $ 0.20 $ 2.91 $ (0.69)
Diluted (in dollars per share) $ 3.33 $ 0.20 $ 2.85 $ (0.69)
Weighted average shares outstanding – basic (in shares) 20,887 15,311 20,996 15,287
Weighted average shares outstanding – diluted (in shares) 21,514 38,372 21,604 15,287
Crude oil        
Revenues        
Revenues $ 273,589,000 $ 116,314,000 $ 500,321,000 $ 198,227,000
Natural gas liquids        
Revenues        
Revenues 18,818,000 4,388,000 35,558,000 7,950,000
Natural gas        
Revenues        
Revenues 21,037,000 3,087,000 33,164,000 5,920,000
Other operating income, net        
Revenues        
Revenues $ 1,047,000 $ 910,000 $ 1,903,000 $ 1,157,000

Source