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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS — UNAUDITED - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Revenues $ 649,890 $ 974,663 $ 1,213,564 $ 1,637,823
Realized (loss) gain on derivatives (3,148) (61,163) 521 (83,602)
Unrealized (loss) gain on derivatives (8,659) 30,430 (15,726) (44,599)
Total revenues 638,083 943,930 1,198,359 1,509,622
Expenses        
Production taxes, transportation and processing 61,991 85,658 117,477 145,477
Lease operating 61,043 39,857 105,450 73,812
Purchased natural gas 27,103 56,440 55,551 73,461
Depletion, depreciation and amortization 177,514 120,024 303,839 215,877
Accretion of asset retirement obligations 792 517 1,491 1,060
General and administrative 26,715 24,431 49,148 54,164
Total expenses 385,815 348,941 694,658 605,326
Operating income 252,268 594,989 503,701 904,296
Other income (expense)        
Net loss on impairment (202) 0 (202) (198)
Interest expense (34,229) (18,492) (50,405) (34,744)
Other income (expense) 16,564 (4,342) 16,903 (4,486)
Total other expense (17,867) (22,834) (33,704) (39,428)
Income before income taxes 234,401 572,155 469,997 864,868
Income tax provision (benefit)        
Current (4,929) 36,261 0 51,670
Deferred 62,235 99,699 113,978 152,818
Total income tax provision 57,306 135,960 113,978 204,488
Net income 177,095 436,195 356,019 660,380
Net income attributable to non-controlling interest in subsidiaries (12,429) (20,477) (28,223) (37,538)
Net income attributable to Matador Resources Company shareholders $ 164,666 $ 415,718 $ 327,796 $ 622,842
Earnings per common share        
Basic (in dollars per share) $ 1.38 $ 3.52 $ 2.75 $ 5.28
Basic (in shares) 119,183 118,103 119,109 118,027
Diluted (in shares) 119,842 119,903 119,856 119,857
Diluted (in dollars per share) $ 1.37 $ 3.47 $ 2.73 $ 5.20
Weighted average common shares outstanding $ 1.38 $ 3.52 $ 2.75 $ 5.28
Oil and natural gas revenues        
Revenues        
Revenues $ 587,917 $ 892,769 $ 1,090,826 $ 1,519,284
Third-party midstream services revenues        
Revenues        
Revenues 30,075 21,886 56,586 39,192
Expenses        
Plant and other midstream services operating 30,657 22,014 61,702 41,475
Sales of purchased natural gas        
Revenues        
Revenues $ 31,898 $ 60,008 $ 66,152 $ 79,347