Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

The following tables set forth unaudited financial information on a quarterly basis for each of the last two years. Fourth quarter 2019 includes proved and unproved impairment expense of $2.3 billion related to our North Louisiana assets. Fourth quarter 2018 includes goodwill impairment expense of $1.6 billion and unproved impairment expense of $441.8 million related to our North Louisiana assets.

	2019
	March			June			September			December			Total
Revenues and other income:
Natural gas, NGLs and oil sales	$	671,654		$	563,579		$	474,754		$	545,438		$	2,255,425
Derivative fair value (loss) income		(61,731	)		195,245			74,676			18,491			226,681
Brokered natural gas, marketing and other		138,214			92,605			73,015			41,675			345,509
Total revenue and other income		748,137			851,429			622,445			605,604			2,827,615
Costs and expenses:
Direct operating		33,227			33,981			35,276			33,792			136,276
Transportation, gathering, processing and compression		302,655			301,219			295,912			299,511			1,199,297
Production and ad valorem taxes		11,310			9,889			7,805			8,963			37,967
Brokered natural gas and marketing		132,305			101,117			79,938			46,532			359,892
Exploration		8,211			8,109			11,013			9,350			36,683
Abandonment and impairment of unproved properties		12,659			12,770			16,202			1,193,711			1,235,342
General and administrative		46,638			50,631			41,047			42,793			181,109
Termination costs		—			2,206			819			6,481			9,506
Deferred compensation plan		3,581			(11,142	)		(8,871	)		960			(15,472	)
Interest		51,537			51,727			46,997			44,024			194,285
Gain on early extinguishment of debt		—			—			(2,985	)		(2,430	)		(5,415	)
Depletion, depreciation and amortization		138,718			141,505			137,751			130,869			548,843
Impairment of proved properties and other		—			—			—			1,095,634			1,095,634
Loss (gain) on sale of assets		189			(5,867	)		36,341			(407	)		30,256
Total costs and expenses		741,030			696,145			697,245			2,909,783			5,044,203

Income (loss) before income taxes		7,107			155,284			(74,800	)		(2,304,179	)		(2,216,588	)
Income tax expense (benefit):
Current		—			—			4,079			2,068			6,147
Deferred		5,688			40,099			(51,298	)		(500,927	)		(506,438	)
		5,688			40,099			(47,219	)		(498,859	)		(500,291	)
Net income (loss)	$	1,419		$	115,185		$	(27,581	)	$	(1,805,320	)	$	(1,716,297	)
Net income (loss) per common share:
Basic	$	0.01		$	0.46		$	(0.11	)	$	(7.27	)	$	(6.92	)
Diluted	$	0.01		$	0.46		$	(0.11	)	$	(7.27	)	$	(6.92	)

	2018
	March			June			September			December			Total
Revenues and other income:
Natural gas, NGLs and oil sales	$	696,629		$	661,390		$	736,431		$	756,627		$	2,851,077
Derivative fair value (loss) income		(14,009	)		(103,290	)		(34,591	)		100,698			(51,192	)
Brokered natural gas, marketing and other		59,979			98,084			109,385			215,312			482,760
Total revenue and other income		742,599			656,184			811,225			1,072,637			3,282,645
Costs and expenses:
Direct operating		38,122			35,088			30,926			35,395			139,531
Transportation, gathering, processing and compression		244,628			269,910			304,562			298,716			1,117,816
Production and ad valorem taxes		9,926			10,140			9,427			16,656			46,149
Brokered natural gas and marketing		55,594			102,747			116,080			221,626			496,047
Exploration		7,719			7,499			8,299			10,600			34,117
Abandonment and impairment of unproved properties		11,773			54,922			6,549			441,750			514,994
General and administrative		68,417			47,583			43,722			50,090			209,812
Termination costs		(37	)		—			(336	)		—			(373	)
Deferred compensation plan		(7,397	)		6,615			223			(18,072	)		(18,631	)
Interest		52,385			53,862			54,801			49,161			210,209
Depletion, depreciation and amortization		162,266			161,026			164,266			147,909			635,467
Impairment of proved properties and other		7,312			15,302			—			—			22,614
Impairment of goodwill		—			—			—			1,641,197			1,641,197
(Gain) loss on sale of assets		(23	)		(156	)		30			10,815			10,666
Total costs and expenses		650,685			764,538			738,549			2,905,843			5,059,615

Income (loss) before income taxes		91,914			(108,354	)		72,676			(1,833,206	)		(1,776,970	)
Income tax expense (benefit):
Current		—			—			—			—			—
Deferred		42,676			(28,518	)		24,137			(68,784	)		(30,489	)
		42,676			(28,518	)		24,137			(68,784	)		(30,489	)
Net income (loss)	$	49,238		$	(79,836	)	$	48,539		$	(1,764,422	)	$	(1,746,481	)
Net income (loss) per common share:
Basic	$	0.20		$	(0.32	)	$	0.19		$	(7.15	)	$	(7.10	)
Diluted	$	0.20		$	(0.32	)	$	0.19		$	(7.15	)	$	(7.10	)