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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS — UNAUDITED - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Revenues $ 854,094 $ 520,721 $ 2,491,917 $ 1,299,744
Realized loss on derivatives (56,263) (57,419) (139,865) (125,943)
Unrealized gain (loss) on derivatives 43,097 9,049 (1,502) (77,178)
Total revenues 840,928 472,351 2,350,550 1,096,623
Expenses        
Production taxes, transportation and processing 73,964 48,896 219,441 126,913
Lease operating 42,360 27,433 116,172 82,124
Purchased natural gas 69,442 34,581 142,903 47,064
Depletion, depreciation and amortization 118,870 89,061 334,747 255,368
Accretion of asset retirement obligations 679 518 1,739 1,529
General and administrative 27,549 24,633 81,713 71,218
Total expenses 357,654 242,165 962,980 628,668
Operating income 483,274 230,186 1,387,570 467,955
Other income (expense)        
Net loss on asset sales and impairment (1,113) (251) (1,311) (251)
Interest expense (15,996) (17,989) (50,740) (55,579)
Other income (expense) 1,804 (585) (2,682) (1,246)
Total other expense (15,305) (18,825) (54,733) (57,076)
Income before income taxes 467,969 211,361 1,332,837 410,879
Income tax provision (benefit)        
Current 270 0 51,940 0
Deferred 113,671 (6,701) 266,489 1,488
Total income tax provision (benefit) 113,941 (6,701) 318,429 1,488
Net income 354,028 218,062 1,014,408 409,391
Net income attributable to non-controlling interest in subsidiaries (16,456) (14,434) (53,994) (39,213)
Net income attributable to Matador Resources Company shareholders $ 337,572 $ 203,628 $ 960,414 $ 370,178
Earnings per common share        
Basic (in dollars per share) $ 2.86 $ 1.74 $ 8.13 $ 3.17
Basic (in shares) 118,136 117,008 118,063 116,872
Diluted (in shares) 119,850 119,197 119,867 118,788
Diluted (in dollars per share) $ 2.82 $ 1.71 $ 8.01 $ 3.12
Weighted average common shares outstanding $ 2.86 $ 1.74 $ 8.13 $ 3.17
Oil and natural gas revenues        
Revenues        
Revenues $ 751,444 $ 461,465 $ 2,270,728 $ 1,189,772
Third-party midstream services revenues        
Revenues        
Revenues 24,707 20,486 63,899 55,774
Expenses        
Plant and other midstream services operating 24,790 17,043 66,265 44,452
Sales of purchased natural gas        
Revenues        
Revenues $ 77,943 $ 38,770 $ 157,290 $ 54,198