SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

Disaggregation of revenue

The following table summarizes the Company’s total revenues and revenues from contracts with customers on a disaggregated basis for the three and six months ended June 30, 2021 and 2020 (in thousands).

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Revenues from contracts with customers	$	442,842	$	147,416	$	779,023	$	371,704
Lease bonus - mineral acreage	—		4,062		—		4,062
Realized (loss) gain on derivatives	(42,611)		44,110		(68,524)		54,977
Unrealized (loss) gain on derivatives	(42,804)		(132,668)		(86,227)		3,762
Total revenues	$	357,427	$	62,920	$	624,272	$	434,505

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Oil revenues	$	315,114	$	94,174	$	528,393	$	263,759
Natural gas revenues	96,960		24,593		199,914		52,922
Third-party midstream services revenues	19,850		14,668		35,288		30,498
Sales of purchased natural gas	10,918		13,981		15,428		24,525
Total revenues from contracts with customers	$	442,842	$	147,416	$	779,023	$	371,704

Reconciliations of basic and diluted distributed and undistributed earnings (loss) per common share

The following table sets forth the computation of diluted weighted average common shares outstanding for the three and six months ended June 30, 2021 and 2020 (in thousands).

	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
Weighted average common shares outstanding
Basic	116,801	116,071	116,804	115,977
Dilutive effect of options and restricted stock units	2,192	—	1,813	—
Diluted weighted average common shares outstanding	118,993	116,071	118,617	115,977