v3.21.2
Condensed Consolidated Statements Of Operations - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Crude oil and natural gas sales $ 47,023,000 $ 17,974,000 $ 86,797,000 $ 36,363,000
Operating costs and expenses:        
Production expense 16,419,000 12,126,000 32,552,000 21,875,000
Exploration expense 665,000   807,000  
Depreciation, depletion and amortization 5,810,000 2,801,000 9,958,000 5,904,000
Impairment of proved crude oil and natural gas properties 0 0 0 30,625,000
General and administrative expense 4,734,000 3,019,000 9,281,000 3,773,000
Bad debt expense and other 395,000 179,000 496,000 989,000
Total operating costs and expenses 28,023,000 18,125,000 53,094,000 63,166,000
Other operating expense, net (126,000) (815,000) (486,000) (846,000)
Operating income (loss) 18,874,000 (966,000) 33,217,000 (27,649,000)
Other income (expense):        
Derivative instruments gain (loss), net (9,969,000) (756,000) (15,923,000) 6,583,000
Interest income, net 1,000 11,000 6,000 127,000
Other, net (164,000) 47,000 4,416,000 16,000
Total other income (expense), net (10,132,000) (698,000) (11,501,000) 6,726,000
Income (loss) from continuing operations before income taxes 8,742,000 (1,664,000) 21,716,000 (20,923,000)
Income tax expense (benefit) 2,825,000 (2,249,000) 5,911,000 31,229,000
Income (loss) from continuing operations 5,917,000 585,000 15,805,000 (52,152,000)
Income (loss) from discontinued operations, net of tax (33,000) 11,000 (52,000) (52,000)
Net income (loss) $ 5,884,000 $ 596,000 $ 15,753,000 $ (52,204,000)
Basic net income (loss) per share:        
Income (loss) from continuing operations $ 0.10 $ 0.01 $ 0.27 $ (0.90)
Loss from discontinued operations, net of tax 0.00 0.00 0.00 0.00
Net income (loss) per share $ 0.10 $ 0.01 $ 0.27 $ (0.90)
Basic weighted average shares outstanding 58,072 57,456 57,855 57,716
Diluted net income (loss) per share:        
Income (loss) from continuing operations $ 0.10 $ 0.01 $ 0.27 $ (0.90)
Loss from discontinued operations, net of tax 0.00 0.00 0.00 0.00
Net income (loss) per share $ 0.10 $ 0.01 $ 0.27 $ (0.90)
Diluted weighted average shares outstanding 58,574 57,594 58,527 57,716

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