Shareholders’ Equity

The following tables summarize the components of our shareholders’ equity and the changes therein as of and for the three and nine months ended September 30, 2018 and 2017.



	Common Stock		Paid-in Capital		Retained Earnings			Accumulated Other Comprehensive Income		Total Shareholders' Equity
Balance as of December 31, 2017	$	150	$	194,123	$	27,366		$	—	$	221,639
Net income	—		—		10,295			—		10,295
All other changes ¹	1		988		(2,659		)	—		(1,670		)
Balance as of March 31, 2018	$	151	$	195,111	$	35,002		$	—	$	230,264
Net loss	—		—		(2,521		)	—		(2,521		)
All other changes ¹	—		869		—			—		869
Balance as of June 30, 2018	$	151	$	195,980	$	32,481		$	—	$	228,612
Net income	—		—		16,276			—		16,276
All other changes ¹	—		1,020		—			—		1,020
Balance as of September 30, 2018	$	151	$	197,000	$	48,757		$	—	$	245,908

_______________________

¹ Includes equity-classified share-based compensation of $3.5 million during the nine months ended September 30, 2018. During the nine months ended September 30, 2018, 53,411 and 1,495 shares of common stock were issued in connection with the vesting of certain time-vested restricted stock units (“RSUs”) and performance restricted stock units (“PRSUs”), net of shares withheld for income taxes, respectively. This also includes a write-off of $2.7 million for certain accounts receivable attributable to natural gas imbalances accounted for under the entitlements method prior to January 1, 2018, in connection with the adoption of ASC Topic 606 (see Note 5).



	Common Stock		Paid-in Capital		Retained Earnings/(Accumulated Deficit)			Accumulated Other Comprehensive Income		Total Shareholders' Equity
Balance as of December 31, 2016	$	150	$	190,621	$	(5,296	)	$	73	$	185,548
Net income	—		—		28,081			—		28,081
All other changes ¹	—		835		—			—		835
Balance as of March 31, 2017	$	150	$	191,456	$	22,785		$	73	$	214,464
Net income	—		—		21,329			—		21,329
All other changes ¹	—		903		—			—		903
Balance as of June 30, 2017	$	150	$	192,359	$	44,114		$	73	$	236,696
Net loss	—		—		(5,947		)	—		(5,947		)
All other changes ¹	—		1,013		—			—		1,013
Balance as of September 30, 2017	$	150	$	193,372	$	38,167		$	73	$	231,762

_______________________

¹ Includes equity-classified share-based compensation of $2.7 million during the nine months ended September 30, 2017 and $0.1 million from the receipt in May 2017 of proceeds attributable to the rights offering in 2016 that had been held in escrow, net of costs to register our common stock. During the nine months ended September 30, 2017, 12,252 shares of common stock were issued in connection with vesting of certain RSUs, net of shares withheld for income taxes.