SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2022

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 months ended March 31, 2022 and 2021 (in thousands).

	Three Months Ended March 31,
	2022		2021
Revenues from contracts with customers	$	663,160	$	336,181
Realized loss on derivatives	(22,439)		(25,913)
Unrealized loss on derivatives	(75,029)		(43,423)
Total revenues	$	565,692	$	266,845

	Three Months Ended March 31,
	2022		2021
Oil revenues	$	460,122	$	213,279
Natural gas revenues	166,393		102,954
Third-party midstream services revenues	17,306		15,438
Sales of purchased natural gas	19,339		4,510
Total revenues from contracts with customers	$	663,160	$	336,181

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 months ended March 31, 2022 and 2021 (in thousands).

	Three Months Ended March 31,
	2022	2021
Weighted average common shares outstanding
Basic	117,951	116,807
Dilutive effect of options and restricted stock units	1,863	1,862
Diluted weighted average common shares outstanding	119,814	118,669