Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Net gain (loss) on natural gas, oil and NGLs derivatives $ 27,074,000 $ (9,663,000) $ 178,169,000 $ (96,737,000)
Total revenues 285,175,000 360,962,000 1,064,747,000 939,094,000
Costs and expenses:        
Lease operating expenses 22,473,000 22,325,000 64,668,000 64,143,000
Production taxes 6,565,000 9,348,000 22,584,000 23,861,000
Midstream gathering and processing expenses 78,435,000 78,913,000 220,732,000 214,546,000
Depreciation, depletion and amortization 163,270,000 119,915,000 406,654,000 352,848,000
Impairment of oil and natural gas properties 571,442,000 0 571,442,000 0
General and administrative expenses 14,659,000 15,848,000 39,482,000 42,955,000
Accretion expense 747,000 1,037,000 3,173,000 3,056,000
Total costs and expenses 857,591,000 247,386,000 1,328,735,000 701,409,000
(LOSS) INCOME FROM OPERATIONS (572,416,000) 113,576,000 (263,988,000) 237,685,000
OTHER EXPENSE (INCOME):        
Interest expense 34,095,000 33,253,000 103,095,000 100,922,000
Interest income (338,000) (92,000) (649,000) (162,000)
Gain on debt extinguishment (23,600,000) 0 (23,600,000) 0
Gain on sale of equity investments and other assets 0 (2,733,000) 0 (124,768,000)
Loss (income) from equity method investments, net 43,082,000 (12,858,000) 164,391,000 (35,282,000)
Other expense 3,194,000 856,000 3,757,000 485,000
Total other (income) expense 56,433,000 18,426,000 246,994,000 (58,805,000)
LOSS BEFORE INCOME TAXES (628,849,000) 95,150,000 (510,982,000) 296,490,000
INCOME TAX BENEFIT (144,047,000) 0 (323,378,000) (69,000)
NET LOSS $ (484,802,000) $ 95,150,000 $ (187,604,000) $ 296,559,000
NET (LOSS) INCOME PER COMMON SHARE:        
Basic (in usd per share) $ (3.04) $ 0.55 $ (1.17) $ 1.69
Diluted (in usd per share) $ (3.04) $ 0.55 $ (1.17) $ 1.68
Weighted average common shares outstanding - Basic (in shares) 159,548,477 173,057,538 160,553,796 175,776,312
Weighted average common shares outstanding - Diluted (in shares) 159,548,477 173,304,914 160,553,796 176,440,461
Natural gas sales        
Revenues:        
Revenue from contract with customer $ 213,227,000 $ 271,167,000 $ 714,500,000 $ 753,261,000
Oil and condensate sales        
Revenues:        
Revenue from contract with customer 24,550,000 45,682,000 93,942,000 140,687,000
Natural gas liquid sales        
Revenues:        
Revenue from contract with customer $ 20,324,000 $ 53,776,000 $ 78,136,000 $ 141,883,000