Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Operations

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Consolidated Statements Of Operations - USD ($)
shares in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues:      
Crude oil and natural gas sales $ 199,075,000 $ 67,176,000 $ 84,521,000
Operating costs and expenses:      
Production expense 81,255,000 37,315,000 37,689,000
Exploration expense 1,579,000 3,588,000  
Depreciation, depletion and amortization 21,060,000 9,382,000 7,083,000
Impairment of proved crude oil and natural gas properties 0 30,625,000  
Gain on revision of asset retirement obligations     (379,000)
General and administrative expense 14,766,000 10,695,000 14,855,000
Bad debt expense and other 875,000 1,165,000 (341,000)
Total operating costs and expenses 119,535,000 92,770,000 58,907,000
Other operating income (expense), net (440,000) (1,669,000) (4,421,000)
Operating income (loss) 79,100,000 (27,263,000) 21,193,000
Other income (expense):      
Derivative instruments gain (loss), net (22,826,000) 6,577,000 (446,000)
Interest income, net 10,000 155,000 733,000
Other, net 3,494,000 129,000 (438,000)
Total other income (expense), net (19,322,000) 6,861,000 (151,000)
Income (loss) from continuing operations before income taxes 59,778,000 (20,402,000) 21,042,000
Income tax expense (benefit) (22,156,000) 27,681,000 23,890,000
Income (loss) from continuing operations 81,934,000 (48,083,000) (2,848,000)
Income (loss) from discontinued operations, net of tax (98,000) (98,000) 5,411,000
Net income (loss) $ 81,836,000 $ (48,181,000) $ 2,563,000
Basic net income (loss) per share:      
Income (loss) from continuing operations $ 1.38 $ (0.83) $ (0.05)
Loss from discontinued operations, net of tax     0.09
Net income (loss) per share $ 1.38 $ (0.83) $ 0.04
Basic weighted average shares outstanding 58,230 57,594 59,143
Diluted net income (loss) per share:      
Income (loss) from continuing operations $ 1.37 $ (0.83) $ (0.05)
Loss from discontinued operations, net of tax     0.09
Net income (loss) per share $ 1.37 $ (0.83) $ 0.04
Diluted weighted average shares outstanding 58,755 57,594 59,143