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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues        
Crude oil $ 70,672 $ 112,090 $ 129,840 $ 217,666
Natural gas liquids (NGLs) 5,191 8,037 10,587 17,410
Natural gas 7,260 16,302 15,831 34,505
Gain (loss) on sales of property and equipment, net 66 (51) (25) 56,775
Other, net 427 2,983 1,910 2,870
Total revenues 83,616 139,361 158,143 329,226
Operating expenses        
Lease operating 10,907 12,001 22,476 22,117
Gathering, processing and transportation 6,383 3,928 13,881 7,177
Production and ad valorem taxes 4,967 7,510 9,656 14,815
General and administrative 11,479 14,840 23,449 31,528
Exploration 4,362 3,373 10,249 12,009
Depreciation, depletion and amortization 85,416 71,437 176,206 143,624
Impairments 1,084 117,908 1,084 117,908
Total operating expenses 124,598 230,997 257,001 349,178
Operating loss (40,982) (91,636) (98,858) (19,952)
Other income (expense)        
Interest expense (23,023) (23,229) (45,036) (45,763)
Derivatives (15,495) (42,665) 7,372 (58,327)
Other (540) 30 (542) 31
Loss before income taxes (80,040) (157,500) (137,064) (124,011)
Income tax (expense) benefit (89) 56,716 (230) 42,452
Net loss (80,129) (100,784) (137,294) (81,559)
Preferred stock dividends [1] (6,067) (1,718) (12,134) (3,440)
Induced conversion of preferred stock 0 (3,368) 0 (3,368)
Net loss attributable to common shareholders $ (86,196) $ (105,870) $ (149,428) $ (88,367)
Net loss per share:        
Basic (in dollars per share) $ (1.19) $ (1.59) $ (2.07) $ (1.34)
Diluted (in dollars per share) $ (1.19) $ (1.59) $ (2.07) $ (1.34)
Weighted average shares outstanding – basic 72,398 66,514 72,330 66,065
Weighted average shares outstanding – diluted 72,398 66,514 72,330 66,065
[1] Preferred stock dividends were excluded from the computation of diluted earnings per share as the assumed conversion of the outstanding preferred stock would have been anti-dilutive.