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CONDENSED CONSOLIDATED INCOME STATEMENTS (Unaudited) - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Total revenues $ 30,057,000 $ 38,149,000 $ 86,317,000 $ 114,715,000
Expenses        
Lease operating expenses 9,104,000 11,450,000 28,734,000 31,946,000
Production, ad valorem, and other taxes 1,813,000 2,031,000 5,550,000 8,522,000
Depreciation and depletion — oil and natural gas 8,345,000 4,217,000 16,771,000 11,415,000
Depreciation and amortization — other 1,605,000 1,637,000 4,947,000 4,870,000
General and administrative 2,304,000 2,619,000 8,686,000 8,004,000
Restructuring expenses 260,000 42,000 341,000 343,000
Employee termination benefits 0 0 0 19,000
(Gain) loss on derivative contracts (1,866,000) 0 (1,866,000) (1,447,000)
Other operating (income) expense, net 0 (31,000) 24,000 (152,000)
Total expenses 21,565,000 21,965,000 63,187,000 63,520,000
Income from operations 8,492,000 16,184,000 23,130,000 51,195,000
Other income (expense)        
Interest income (expense), net 1,553,000 2,455,000 6,742,000 7,782,000
Other income (expense), net 0 31,000 92,000 88,000
Total other income (expense) 1,553,000 2,486,000 6,834,000 7,870,000
Income (loss) before income taxes 10,045,000 18,670,000 29,964,000 59,065,000
Income tax (benefit) expense (15,439,000) 0 (15,439,000) 0
Net income (loss) $ 25,484,000 $ 18,670,000 $ 45,403,000 $ 59,065,000
Net income (loss) per share        
Basic (in dollars per share) $ 0.69 $ 0.51 $ 1.22 $ 1.60
Diluted (in dollars per share) $ 0.69 $ 0.50 $ 1.22 $ 1.59
Weighted average number of common shares outstanding        
Basic (in shares) 37,134 36,969 37,087 36,906
Diluted (in shares) 37,180 37,161 37,150 37,123