CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2020 |
Sep. 30, 2019 |
Sep. 30, 2020 |
Sep. 30, 2019 |
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Revenues and other income: | ||||
Revenues and other income | $ 424,035 | $ 547,769 | $ 1,267,629 | $ 2,013,821 |
Derivative fair value (loss) income | (124,690) | 74,676 | 102,182 | 208,190 |
Total revenues and other income | 299,345 | 622,445 | 1,369,811 | 2,222,011 |
Costs and expenses: | ||||
Production and ad valorem taxes | 6,106 | 7,805 | 20,682 | 29,004 |
Brokered natural gas and marketing | 47,967 | 79,938 | 118,752 | 313,360 |
Exploration | 8,086 | 11,013 | 23,190 | 27,333 |
Abandonment and impairment of unproved properties | 5,667 | 16,202 | 16,604 | 41,631 |
General and administrative | 38,153 | 41,047 | 118,695 | 138,316 |
Exit and termination costs | 521,633 | 819 | 533,525 | 3,025 |
Deferred compensation plan | 6,237 | (8,871) | 10,287 | (16,432) |
Interest | 47,999 | 46,997 | 144,141 | 150,261 |
Loss (gain) on early extinguishment of debt | 7,821 | (2,985) | (14,093) | (2,985) |
Depletion, depreciation and amortization | 96,167 | 137,751 | 303,779 | 417,974 |
Impairment of proved properties and other assets | 1,955 | 0 | 78,955 | 0 |
Loss (gain) on the sale of assets | 9,230 | 36,341 | (112,443) | 30,663 |
Total costs and expenses | 1,084,644 | 697,245 | 2,149,766 | 2,134,420 |
(Loss) income before income taxes | (785,299) | (74,800) | (779,955) | 87,591 |
Income tax (benefit) expense: | ||||
Current | 0 | 4,079 | (366) | 4,079 |
Deferred | (105,251) | (51,298) | (97,947) | (5,511) |
Total (benefit) expense for income taxes | (105,251) | (47,219) | (98,313) | (1,432) |
Net (loss) income | $ (680,048) | $ (27,581) | $ (681,642) | $ 89,023 |
Net (loss) income per common share: | ||||
Basic | $ (2.83) | $ (0.11) | $ (2.82) | $ 0.35 |
Diluted | (2.83) | (0.11) | (2.82) | 0.35 |
Dividends paid per common share | $ 0 | $ 0.02 | $ 0 | $ 0.06 |
Weighted average common shares outstanding: | ||||
Basic | 239,895 | 248,082 | 241,770 | 247,878 |
Diluted | 239,895 | 248,082 | 241,770 | 248,823 |
Natural Gas, NGLs and Oil Sales | ||||
Revenues and other income: | ||||
Revenues and other income | $ 381,553 | $ 474,754 | $ 1,162,907 | $ 1,709,987 |
Brokered Natural Gas, Marketing and Other | ||||
Revenues and other income: | ||||
Revenues and other income | 42,482 | 73,015 | 104,722 | 303,834 |
Direct Operating | ||||
Costs and expenses: | ||||
Costs and expenses | 19,515 | 35,276 | 75,944 | 102,484 |
Transportation, Gathering, Processing and Compression | ||||
Costs and expenses: | ||||
Costs and expenses | $ 268,108 | $ 295,912 | $ 831,748 | $ 899,786 |
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- Definition Deferred compensation arrangement gain loss. No definition available.
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- Definition Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The adjustment to expense previously capitalized costs of drilling exploratory wells when proved reserves are not found or when the entity obtains information that raises substantial doubt about the economic or operational viability of the project. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Exploration expenses (including prospecting) related to oil and gas producing entities and would be included in operating expenses of that entity. Costs incurred in identifying areas that may warrant examination and in examining specific areas that are considered to have prospects of containing oil and gas reserves, including costs of drilling exploratory wells and exploratory-type stratigraphic test wells. Exploration costs may be incurred both before acquiring the related property (sometimes referred to in part as prospecting costs) and after acquiring the property. Principal types of exploration costs, which include depreciation and applicable operating costs of support equipment and facilities and other costs of exploration activities, are: (i) Costs of topographical, geographical and geophysical studies, rights of access to properties to conduct those studies, and salaries and other expenses of geologists, geophysical crews, and others conducting those studies. Collectively, these are sometimes referred to as geological and geophysical or "G&G" costs. (ii) Costs of carrying and retaining undeveloped properties, such as delay rentals, ad valorem taxes on properties, legal costs for title defense, and the maintenance of land and lease records. (iii) Dry hole contributions and bottom hole contributions. (iv) Costs of drilling and equipping exploratory wells. (v) Costs of drilling exploratory-type stratigraphic test wells. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of gain (loss) on sale or disposal of proven and unproven oil and gas properties. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The expense recorded to reduce the value of oil and gas assets consisting of proved properties and unproved properties as the estimate of future successful production from these properties is reduced. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition A tax assessed on oil and gas production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Depreciation, depletion and amortization, and valuation provisions (impairments) related to oil and gas producing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Income before income taxes for oil and gas producing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Production (lifting) costs from oil and gas producing activities, including but not limited to lease operating expense, production and ad valorem taxes, and transportation expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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