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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
REVENUES      
Oil, natural gas and related product sales $ 497,417 $ 290,193 $ 87,098
EXPENSES      
Lease operating expenses 44,678 26,333 20,398
Production and ad valorem taxes 30,619 18,066 6,663
Depletion and accretion expense 105,752 94,661 79,947
Impairments of long-lived assets     5,725
General and administrative 14,223 10,179 10,108
Gain on disposal of oil and natural gas properties   (2,279) (648)
Total operating costs and expenses 195,272 146,960 122,193
Net operating income (loss) 302,145 143,233 (35,095)
OTHER (EXPENSE) INCOME      
(Loss) gain on derivatives - commodity derivatives (25,324) (32,389) 13,006
Interest expense (1,989) (2,385) (1,841)
Gain on derivatives - common stock warrants 362    
Total other (expense) income (26,951) (34,774) 11,165
INCOME (LOSS) BEFORE INCOME TAXES 275,194 108,459 (23,930)
Income tax expense 12,850    
NET INCOME (LOSS) $ 262,344 $ 108,459 $ (23,930)
NET INCOME (LOSS) PER SHARE:      
Basic $ 1.97 $ 0.82 $ (0.18)
Diluted $ 1.97 $ 0.82 $ (0.18)
WEIGHTED-AVERAGE NUMBER OF SHARES OUTSTANDING:      
Basic 132,923 132,923 132,923
Diluted 133,074 132,923 132,923