Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited)

v3.23.1
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues:    
Crude oil, natural gas and natural gas liquids sales $ 80,403 $ 68,656
Operating costs and expenses:    
Production expense 28,200 18,360
Exploration expense 8 127
Depreciation, depletion and amortization 24,417 4,673
General and administrative expense 5,224 4,994
Credit losses and other 935 492
Total operating costs and expenses 58,784 28,646
Other operating expense, net 0 (5)
Operating income 21,619 40,005
Other income (expense):    
Derivative instruments gain (loss), net 21 (31,758)
Interest expense, net (2,246) (3)
Other expense, net (1,140) (696)
Total other expense, net (3,365) (32,457)
Income from continuing operations before income taxes 18,254 7,548
Income tax expense (benefit) 14,771 (4,628)
Income from continuing operations 3,483 12,176
Loss from discontinued operations, net of tax (13) (12)
Net income 3,470 12,164
Other comprehensive income (loss)    
Currency translation adjustments (125) 0
Comprehensive income $ 3,345 $ 12,164
Basic net income per share:    
Income from continuing operations (in dollars per share) $ 0.03 $ 0.21
Loss from discontinued operations, net of tax (in dollars per share) 0.00 0.00
Net income per share (in dollars per share) $ 0.03 $ 0.21
Basic weighted average shares outstanding (in shares) 107,387 58,702
Diluted net income per share:    
Income from continuing operations (in dollars per share) $ 0.03 $ 0.20
Loss from discontinued operations, net of tax (in dollars per share) 0.00 0.00
Net income per share (in dollars per share) $ 0.03 $ 0.20
Diluted weighted average shares outstanding (in shares) 108,752 59,179