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
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Crude oil and natural gas sales $ 55,899,000 $ 18,256,000 $ 142,696,000 $ 54,619,000
Operating costs and expenses:        
Production expense 25,208,000 8,984,000 57,760,000 30,859,000
Exploration expense 479,000 16,000 1,286,000 16,000
Depreciation, depletion and amortization 6,970,000 2,212,000 16,928,000 8,116,000
Impairment of proved crude oil and natural gas properties 0 0 0 30,625,000
General and administrative expense 2,940,000 2,178,000 12,221,000 5,951,000
Bad debt expense and other 318,000 151,000 814,000 1,140,000
Total operating costs and expenses 35,915,000 13,541,000 89,009,000 76,707,000
Other operating income (expense), net 46,000 (37,000) (440,000) (883,000)
Operating income (loss) 20,030,000 4,678,000 53,247,000 (22,971,000)
Other income (expense):        
Derivative instruments gain (loss), net (5,147,000)   (21,070,000) 6,583,000
Interest income, net 3,000 23,000 9,000 150,000
Other, net (328,000) 147,000 4,088,000 163,000
Total other income (expense), net (5,472,000) 170,000 (16,973,000) 6,896,000
Income (loss) from continuing operations before income taxes 14,558,000 4,848,000 36,274,000 (16,075,000)
Income tax expense (benefit) (17,183,000) (2,759,000) (11,272,000) 28,470,000
Income (loss) from continuing operations 31,741,000 7,607,000 47,546,000 (44,545,000)
Income (loss) from discontinued operations, net of tax (20,000) 11,000 (72,000) (41,000)
Net income (loss) $ 31,721,000 $ 7,618,000 $ 47,474,000 $ (44,586,000)
Basic net income (loss) per share:        
Income (loss) from continuing operations $ 0.53 $ 0.13 $ 0.81 $ (0.77)
Loss from discontinued operations, net of tax 0.00 0.00 0.00 0.00
Net income (loss) per share $ 0.53 $ 0.13 $ 0.81 $ (0.77)
Basic weighted average shares outstanding 58,586 57,456 58,102 57,628
Diluted net income (loss) per share:        
Income (loss) from continuing operations $ 0.53 $ 0.13 $ 0.80 $ (0.77)
Loss from discontinued operations, net of tax 0.00 0.00 0.00 0.00
Net income (loss) per share $ 0.53 $ 0.13 $ 0.80 $ (0.77)
Diluted weighted average shares outstanding 58,916 57,741 58,654 57,628