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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS — UNAUDITED - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Revenues $ 771,787 $ 854,094 $ 1,985,351 $ 2,491,917
Realized loss on derivatives (6,975) (56,263) (6,454) (139,865)
Unrealized gain (loss) on derivatives 7,482 43,097 (8,244) (1,502)
Total revenues 772,294 840,928 1,970,653 2,350,550
Expenses        
Production taxes, transportation and processing 71,697 73,964 189,174 219,441
Lease operating 66,395 42,360 171,845 116,172
Purchased natural gas 37,641 69,442 93,192 142,903
Depletion, depreciation and amortization 192,794 118,870 496,633 334,747
Accretion of asset retirement obligations 1,218 679 2,709 1,739
General and administrative 31,731 27,549 80,879 81,713
Total expenses 432,284 357,654 1,126,942 962,980
Operating income 340,010 483,274 843,711 1,387,570
Other income (expense)        
Net loss on impairment 0 (1,113) (202) (1,311)
Interest expense (35,408) (15,996) (85,813) (50,740)
Other (expense) income (11,614) 1,804 5,289 (2,682)
Total other expense (47,022) (15,305) (80,726) (54,733)
Income before income taxes 292,988 467,969 762,985 1,332,837
Income tax provision (benefit)        
Current 8,958 270 8,958 51,940
Deferred 5,631 113,671 119,609 266,489
Total income tax provision 14,589 113,941 128,567 318,429
Net income 278,399 354,028 634,418 1,014,408
Net income attributable to non-controlling interest in subsidiaries (14,660) (16,456) (42,883) (53,994)
Net income attributable to Matador Resources Company shareholders $ 263,739 $ 337,572 $ 591,535 $ 960,414
Earnings per common share        
Basic (in dollars per share) $ 2.21 $ 2.86 $ 4.97 $ 8.13
Basic (in shares) 119,147 118,136 119,121 118,063
Diluted (in shares) 120,081 119,850 120,045 119,867
Diluted (in dollars per share) $ 2.20 $ 2.82 $ 4.93 $ 8.01
Weighted average common shares outstanding $ 2.21 $ 2.86 $ 4.97 $ 8.13
Oil and natural gas revenues        
Revenues        
Revenues $ 701,527 $ 751,444 $ 1,792,353 $ 2,270,728
Third-party midstream services revenues        
Revenues        
Revenues 29,931 24,707 86,517 63,899
Expenses        
Plant and other midstream services operating 30,808 24,790 92,510 66,265
Sales of purchased natural gas        
Revenues        
Revenues $ 40,329 $ 77,943 $ 106,481 $ 157,290