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CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
OPERATING REVENUES        
Operating revenues $ 548,710 $ 386,252 $ 1,473,475 $ 1,317,363
Gain (loss) on derivative instruments (3,537) (836) (1,628) 46,353
TOTAL OPERATING REVENUES 545,173 385,416 1,471,847 1,363,716
OPERATING EXPENSES        
Direct operations 17,030 26,282 52,757 78,185
Taxes other than income 2,852 9,194 15,434 26,562
Exploration 10,049 6,466 68,166 16,623
Depreciation, depletion and amortization 121,172 146,267 288,210 425,689
Impairment of oil and gas properties 0 0 0 68,555
General and administrative 20,724 23,244 66,013 70,902
TOTAL OPERATING EXPENSES 394,766 332,141 1,024,865 1,058,687
Loss on equity method investments (11) (1,417) (1,009) (3,986)
Gain (loss) on sale of assets 25,655 (11,872) (14,850) (13,498)
INCOME FROM OPERATIONS 176,051 39,986 431,123 287,545
Interest expense, net 14,191 20,331 57,577 61,720
Other expense (income) 115 (5,083) 347 (4,974)
Income before income taxes 161,745 24,738 373,199 230,799
Income tax expense 39,408 7,151 91,201 85,965
NET INCOME $ 122,337 $ 17,587 $ 281,998 $ 144,834
Earnings per share        
Basic (in dollars per share) $ 0.28 $ 0.04 $ 0.63 $ 0.31
Diluted (in dollars per share) $ 0.28 $ 0.04 $ 0.62 $ 0.31
Weighted-average common shares outstanding        
Basic (in shares) 440,772 462,498 450,445 464,194
Diluted (in shares) 443,110 464,780 452,313 466,010
Dividends per common share (in dollars per share) $ 0.06 $ 0.05 $ 0.18 $ 0.12
Natural gas        
OPERATING REVENUES        
Operating revenues $ 440,835 $ 323,319 $ 1,217,603 $ 1,152,089
Crude oil and condensate        
OPERATING REVENUES        
Operating revenues 0 56,913 48,722 144,528
Brokered natural gas        
OPERATING REVENUES        
Operating revenues 105,849 3,528 203,375 12,260
OPERATING EXPENSES        
Operating expenses 93,405 2,797 178,437 10,262
Other        
OPERATING REVENUES        
Operating revenues 2,026 2,492 3,775 8,486
Transportation and gathering        
OPERATING EXPENSES        
Operating expenses $ 129,534 $ 117,891 $ 355,848 $ 361,909