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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS — UNAUDITED - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues        
Revenues $ 442,842 $ 147,416 $ 779,023 $ 371,704
Lease bonus - mineral acreage 0 4,062 0 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
Expenses        
Production taxes, transportation and processing 43,843 18,797 78,017 40,513
Lease operating 28,752 26,162 54,691 57,072
Purchased natural gas 9,628 10,922 12,483 18,980
Depletion, depreciation and amortization 91,444 93,350 166,307 184,057
Accretion of asset retirement obligations 511 495 1,011 971
Full-cost ceiling impairment 0 324,001 0 324,001
General and administrative 24,397 14,723 46,585 30,945
Total expenses 212,321 498,230 386,503 676,283
Operating income (loss) 145,106 (435,310) 237,769 (241,778)
Other income (expense)        
Net loss on asset sales and impairment 0 (2,632) 0 (2,632)
Interest expense (17,940) (18,297) (37,590) (38,109)
Other income (expense) 14 473 (661) 1,793
Total other expense (17,926) (20,456) (38,251) (38,948)
Income (loss) before income taxes 127,180 (455,766) 199,518 (280,726)
Income tax provision (benefit)        
Deferred 5,349 (109,823) 8,189 (69,866)
Income tax provision (benefit) 5,349 (109,823) 8,189 (69,866)
Net income (loss) 121,831 (345,943) 191,329 (210,860)
Net income attributable to non-controlling interest in subsidiaries (15,926) (7,473) (24,779) (16,827)
Net income (loss) attributable to Matador Resources Company shareholders $ 105,905 $ (353,416) $ 166,550 $ (227,687)
Earnings (loss) per common share        
Basic (in dollars per share) $ 0.91 $ (3.04) $ 1.43 $ (1.96)
Diluted (in dollars per share) $ 0.89 $ (3.04) $ 1.40 $ (1.96)
Weighted average common shares outstanding        
Basic (in shares) 116,801 116,071 116,804 115,977
Diluted (in shares) 118,993 116,071 118,617 115,977
Oil and natural gas revenues        
Revenues        
Revenues $ 412,074 $ 118,767 $ 728,307 $ 316,681
Third-party midstream services revenues        
Revenues        
Revenues 19,850 14,668 35,288 30,498
Expenses        
Plant and other midstream services operating 13,746 9,780 27,409 19,744
Sales of purchased natural gas        
Revenues        
Revenues $ 10,918 $ 13,981 $ 15,428 $ 24,525