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CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
OPERATING REVENUES        
Operating revenues $ 457,115 $ 446,652 $ 924,765 $ 931,112
Gain (loss) on derivative instruments (3,668) 13,805 1,909 47,190
TOTAL OPERATING REVENUES 453,447 460,457 926,674 978,302
OPERATING EXPENSES        
Direct operations 15,657 27,262 35,727 51,903
Taxes other than income 5,392 8,310 12,582 17,368
Exploration 54,500 3,959 58,117 10,157
Depreciation, depletion and amortization 84,910 144,322 167,038 279,422
Impairment of oil and gas properties and other assets 0 68,555 0 68,555
General and administrative 21,228 23,957 45,288 47,659
TOTAL OPERATING EXPENSES 375,958 400,328 630,098 726,547
Loss on equity method investments (4) (1,286) (998) (2,569)
Gain (loss) on sale of assets 544 (1,403) (40,505) (1,626)
INCOME FROM OPERATIONS 78,029 57,440 255,073 247,560
Interest expense, net 23,328 20,619 43,386 41,390
Other (income) expense 118 (315) 232 109
Income before income taxes 54,583 37,136 211,455 206,061
Income tax expense 12,152 15,609 51,793 78,814
NET INCOME $ 42,431 $ 21,527 $ 159,662 $ 127,247
Earnings per share        
Basic (in dollars per share) $ 0.09 $ 0.05 $ 0.35 $ 0.27
Diluted (in dollars per share) $ 0.09 $ 0.05 $ 0.35 $ 0.27
Weighted-average common shares outstanding        
Basic (in shares) 451,055 464,768 455,361 465,057
Diluted (in shares) 453,114 466,745 457,142 466,752
Dividends per common share (in dollars per share) $ 0.06 $ 0.05 $ 0.12 $ 0.07
Natural gas        
OPERATING REVENUES        
Operating revenues $ 364,660 $ 395,328 $ 776,768 $ 828,770
Crude oil and condensate        
OPERATING REVENUES        
Operating revenues 0 44,625 48,722 87,616
Brokered natural gas        
OPERATING REVENUES        
Operating revenues 92,576 4,037 97,526 8,732
OPERATING EXPENSES        
Operating expenses 80,082 3,419 85,032 7,465
Other        
OPERATING REVENUES        
Operating revenues (121) 2,662 1,749 5,994
Transportation and gathering        
OPERATING EXPENSES        
Operating expenses $ 114,189 $ 120,544 $ 226,314 $ 244,018