Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUES:        
Net (loss) gain on natural gas, oil and NGL derivatives $ (53,823) $ 27,074 $ 71,414 $ 178,169
Total Revenues 136,176 341,746 621,815 1,226,658
OPERATING EXPENSES:        
Lease operating expenses 15,274 22,473 46,946 64,668
Production taxes 4,028 6,565 12,432 22,584
Midstream gathering and processing expenses 110,567 135,006 334,789 382,643
Depreciation, depletion and amortization 51,551 163,270 194,369 406,654
Impairment of oil and natural gas properties 270,874 571,442 1,357,099 571,442
General and administrative expenses 20,524 13,198 46,546 34,982
Restructuring and liability management 8,984 0 9,601 0
Accretion expense 774 747 2,270 3,173
Total Operating Expenses 482,576 912,701 2,004,052 1,486,146
LOSS FROM OPERATIONS (346,400) (570,955) (1,382,237) (259,488)
OTHER EXPENSE (INCOME):        
Interest expense 34,321 35,556 99,677 107,595
Interest income (52) (338) (282) (649)
Gain on debt extinguishment 0 (23,600) (49,579) (23,600)
Loss from equity method investments, net 153 43,082 10,987 164,391
Other expense (income) 141 3,194 9,239 3,757
Total Other Expense 34,563 57,894 70,042 251,494
LOSS BEFORE INCOME TAXES (380,963) (628,849) (1,452,279) (510,982)
Income Tax (Benefit) Expense 0 (144,047) 7,290 (323,378)
NET LOSS $ (380,963) $ (484,802) $ (1,459,569) $ (187,604)
NET LOSS PER COMMON SHARE:        
Basic (in usd per share) $ (2.37) $ (3.04) $ (9.12) $ (1.17)
Diluted (in usd per share) $ (2.37) $ (3.04) $ (9.12) $ (1.17)
Weighted average common shares outstanding - Basic (in shares) 160,682,629 159,548,477 160,053,093 160,553,796
Weighted average common shares outstanding - Diluted (in shares) 160,682,629 159,548,477 160,053,093 160,553,796
Natural gas sales        
REVENUES:        
Revenue from contract with customer $ 155,163 $ 269,798 $ 456,859 $ 876,411
Oil and condensate sales        
REVENUES:        
Revenue from contract with customer 16,012 24,550 47,553 93,942
Natural gas liquid sales        
REVENUES:        
Revenue from contract with customer $ 18,824 $ 20,324 $ 45,989 $ 78,136