Quarterly report [Sections 13 or 15(d)]

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
REVENUES:        
Net gain on natural gas, oil and NGL derivatives $ 66,804,000 $ 37,966,000 $ 56,357,000 $ 74,487,000
Total revenues 379,745,000 253,912,000 1,024,395,000 718,258,000
OPERATING EXPENSES:        
Lease operating expenses 20,793,000 18,218,000 58,704,000 50,843,000
Taxes other than income 7,925,000 6,833,000 22,107,000 22,111,000
Transportation, gathering, processing and compression 96,390,000 89,900,000 265,768,000 263,048,000
Depreciation, depletion and amortization 83,216,000 82,825,000 222,481,000 241,401,000
Impairment of oil and natural gas properties 0 30,487,000 0 30,487,000
General and administrative expenses 11,835,000 10,479,000 31,762,000 30,429,000
Accretion expense 597,000 583,000 1,802,000 1,705,000
Total operating expenses 220,756,000 239,325,000 602,624,000 640,024,000
INCOME FROM OPERATIONS 158,989,000 14,587,000 421,771,000 78,234,000
OTHER EXPENSE:        
Interest expense 13,590,000 15,866,000 40,677,000 46,027,000
Loss on debt extinguishment 0 13,388,000 0 13,388,000
Other, net 2,596,000 3,133,000 2,795,000 3,530,000
Total other expense 16,186,000 32,387,000 43,472,000 62,945,000
INCOME (LOSS) BEFORE INCOME TAXES 142,803,000 (17,800,000) 378,299,000 15,289,000
INCOME TAX EXPENSE (BENEFIT):        
Current (105,000) 0 0 0
Deferred 31,515,000 (3,833,000) 82,904,000 3,433,000
Total income tax expense (benefit) 31,410,000 (3,833,000) 82,904,000 3,433,000
NET INCOME (LOSS) 111,393,000 (13,967,000) 295,395,000 11,856,000
Dividends on preferred stock 0 (1,093,000) (1,666,000) (3,293,000)
Deemed dividend on preferred stock (29,986,000) 0 (29,986,000) 0
Participating securities - preferred stock 0 0 0 (1,259,000)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 81,407,000 $ (15,060,000) $ 263,743,000 $ 7,304,000
NET INCOME (LOSS) PER COMMON SHARE:        
Basic (in usd per share) $ 4.49 $ (0.83) $ 14.73 $ 0.40
Diluted (in usd per share) $ 4.45 $ (0.83) $ 14.57 $ 0.40
Weighted average common shares outstanding - Basic (in shares) 18,114 18,062 17,901 18,133
Weighted average common shares outstanding - Diluted (in shares) 18,290 18,062 18,102 18,463
Natural gas sales        
REVENUES:        
Revenue from contract with customer $ 236,801,000 $ 159,862,000 $ 759,543,000 $ 492,606,000
Oil and condensate sales        
REVENUES:        
Revenue from contract with customer 37,406,000 29,467,000 110,208,000 70,295,000
Natural gas liquid sales        
REVENUES:        
Revenue from contract with customer $ 38,734,000 $ 26,617,000 $ 98,287,000 $ 80,870,000