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CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
OPERATING REVENUES        
Operating revenues $ 418,051 $ 548,710 $ 1,521,943 $ 1,473,475
Gain (loss) on derivative instruments 11,060 (3,537) 82,966 (1,628)
TOTAL OPERATING REVENUES 429,111 545,173 1,604,909 1,471,847
OPERATING EXPENSES        
Direct operations 19,181 17,030 55,608 52,757
Taxes other than income 4,607 2,852 14,094 15,434
Exploration 4,481 10,049 15,029 68,166
Depreciation, depletion and amortization 110,889 121,172 299,294 288,210
General and administrative 18,391 20,724 72,370 66,013
TOTAL OPERATING EXPENSES 303,230 394,766 881,098 1,024,865
Earnings (loss) on equity method investments 3,860 (11) 11,194 (1,009)
Gain (loss) on sale of assets 36 25,655 (1,464) (14,850)
INCOME FROM OPERATIONS 129,777 176,051 733,541 431,123
Interest expense, net 13,554 14,191 40,302 57,577
Other expense 143 115 430 347
Income before income taxes 116,080 161,745 692,809 373,199
Income tax expense 25,722 39,408 158,679 91,201
NET INCOME $ 90,358 $ 122,337 $ 534,130 $ 281,998
Earnings per share        
Basic (in dollars per share) $ 0.22 $ 0.28 $ 1.27 $ 0.63
Diluted (in dollars per share) $ 0.22 $ 0.28 $ 1.27 $ 0.62
Weighted-average common shares outstanding        
Basic (in shares) 412,456 440,772 419,199 450,445
Diluted (in shares) 414,462 443,110 421,101 452,313
Natural gas        
OPERATING REVENUES        
Operating revenues $ 418,133 $ 440,835 $ 1,521,789 $ 1,217,603
Crude oil and condensate        
OPERATING REVENUES        
Operating revenues 0 0 0 48,722
Brokered natural gas        
OPERATING REVENUES        
Operating revenues 0 105,849 0 203,375
OPERATING EXPENSES        
Operating expenses 0 93,405 0 178,437
Other        
OPERATING REVENUES        
Operating revenues (82) 2,026 154  
Transportation and gathering        
OPERATING EXPENSES        
Operating expenses $ 145,681 $ 129,534 $ 424,703 $ 355,848