v3.22.2.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Crude oil and natural gas sales $ 78,097 $ 55,899 $ 257,738 $ 142,696
Operating costs and expenses:        
Production expense 23,312 25,208 67,147 57,760
FPSO demobilization 8,867 0 8,867 0
Exploration expense 56 479 250 1,286
Depreciation, depletion and amortization 8,963 6,970 21,827 16,928
General and administrative expense 1,979 2,940 10,507 12,221
Bad debt expense and other 1,020 318 2,083 814
Total operating costs and expenses 44,197 35,915 110,681 89,009
Other operating (expense) income, net 0 46 (5) (440)
Operating income 33,900 20,030 147,052 53,247
Other income (expense):        
Derivative instruments gain (loss), net 3,778 (5,147) (37,522) (21,070)
Interest (expense) income, net (234) 3 (355) 9
Other (expense) income, net (7,707) (328) (10,514) 4,088
Total other expense, net (4,163) (5,472) (48,391) (16,973)
Income from continuing operations before income taxes 29,737 14,558 98,661 36,274
Income tax expense (benefit) 22,843 (17,183) 64,467 (11,272)
Income from continuing operations 6,894 31,741 34,194 47,546
Loss from discontinued operations, net of tax (26) (20) (58) (72)
Net income $ 6,868 $ 31,721 $ 34,136 $ 47,474
Basic net income per share:        
Income from continuing operations (in dollars per share) $ 0.12 $ 0.53 $ 0.57 $ 0.81
Loss from discontinued operations, net of tax (in dollars per share) 0.00 0.00 0.00 0.00
Net income per share (in dollars per share) $ 0.12 $ 0.53 $ 0.57 $ 0.81
Basic weighted average shares outstanding (in shares) 59,068 58,586 58,900 58,102
Diluted net income per share:        
Income from continuing operations (in dollars per share) $ 0.11 $ 0.53 $ 0.57 $ 0.80
Loss from discontinued operations, net of tax (in dollars per share) 0.00 0.00 0.00 0.00
Net income per share (in dollars per share) $ 0.11 $ 0.53 $ 0.57 $ 0.80
Diluted weighted average shares outstanding (in shares) 59,450 58,916 59,335 58,654

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