Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Income (Loss)

v3.23.1
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:      
Crude oil, natural gas and natural gas liquids sales $ 354,326 $ 199,075 $ 67,176
Operating costs and expenses:      
Production expense 112,661 81,255 37,315
FPSO demobilization 8,867 0 0
Exploration expense 258 1,579 3,588
Depreciation, depletion and amortization 48,143 21,060 9,382
Impairment of proved crude oil and natural gas properties 0 0 30,625
General and administrative expense 10,077 14,766 10,695
Bad debt expense and other 3,082 875 1,165
Total operating costs and expenses 183,088 119,535 92,770
Other operating income (expense), net 38 (440) (1,669)
Operating income (loss) 171,276 79,100 (27,263)
Other income (expense):      
Derivative instruments gain (loss), net (37,812) (22,826) 6,577
Interest income (expense), net (2,034) 10 155
Other income (expense), net (8,048) 3,494 129
Total other income (expense), net (47,894) (19,322) 6,861
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total 123,382 59,778 (20,402)
Income tax expense (benefit) 71,420 (22,156) 27,681
Income (loss) from continuing operations 51,962 81,934 (48,083)
Loss from discontinued operations, net of tax (72) (98) (98)
Net income (loss) 51,890 81,836 (48,181)
Other comprehensive income (loss)      
Currency translation adjustments 1,179 0 0
Comprehensive income (loss) $ 53,069 $ 81,836 $ (48,181)
Basic net income (loss) per share:      
Income (loss) from continuing operations (in dollars per share) $ 0.74 $ 1.38 $ (0.83)
Loss from discontinued operations, net of tax (in dollars per share) 0 0 0
Net income (loss) per share (in dollars per share) $ 0.74 $ 1.38 $ (0.83)
Basic weighted average shares outstanding (in shares) 69,568 58,230 57,594
Diluted net income (loss) per share:      
Income (loss) from continuing operations (in dollars per share) $ 0.73 $ 1.37 $ (0.83)
Loss from discontinued operations, net of tax (in dollars per share) 0 0 0
Net income (loss) per share (in dollars per share) $ 0.73 $ 1.37 $ (0.83)
Diluted weighted average shares outstanding (in shares) 69,982 58,755 57,594