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QUARTERLY FINANCIAL DATA (UNAUDITED)
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
QUARTERLY FINANCIAL DATA (UNAUDITED)
QUARTERLY FINANCIAL DATA (UNAUDITED)
The following is a summary of the unaudited quarterly financial data for the years ended December 31, 2018 and 2017 (in thousands, except per share data):
 
 
Successor Three Months Ended
2018
 
March 31
    
June 30
    
September 30
 
December 31
Oil and gas sales
 
$
64,193

 
$
71,872

 
$
74,380

 
 
$
66,213

Operating profit(1)
 
$
35,042

 
$
40,014

 
$
43,959

 
 
$
41,416

Net Income
 
$
13,870

 
$
4,859

 
$
43,363

 
 
$
106,094

Basic net income per common share
 
$
0.68

 
$
0.24

 
$
2.11

 
 
$
5.16

Diluted net income per common share
 
$
0.68

 
$
0.24

 
$
2.10

 
 
$
5.15

 
 
Predecessor
 
 
Successor
 
    
Three Months Ended March 31, 2017
 
 
April 1, 2017 through April 28, 2017
    
 
April 29, 2017 through June 30, 2017
    
Three Months Ended September 30, 2017
    
Three Months Ended December 31, 2017
2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Oil and gas sales
 
$
52,559

 
$
16,030

 
 
$
28,114

 
$
45,232

 
$
50,189

Operating profit(1)
 
 
14,398

 
 
3,786

 
 
 
12,955

 
 
22,540

 
 
22,935

Net income (loss)
 
 
(94,276
)
 
 
96,936

 
 
 
(3,580
)
 
 
4,328

 
 
(5,768
)
Basic net income (loss) per common share
 
$
(1.91
)
 
$
1.88

 
 
$
(0.18
)
 
$
0.21

 
$
(0.28
)
Diluted net income (loss) per common share
 
$
(1.91
)
 
$
1.85

 
 
$
(0.18
)
 
$
0.21

 
$
(0.28
)
________________________
(1)
Oil and gas sales less lease operating expense, gas plant and midstream operating expense, gathering, transportation, and processing, severance and ad valorem taxes, depreciation, and depletion and amortization.