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New words:
award, Carlo, conserving, Delta, discretion, equivalent, free, Henry, Hub, installment, life, merger, Monte, Penn, preceding, ran, regulatory, requisite, running, shareholder, showing, simulation, swing, unanimously, unissued, upheaval, variant, Virginia
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adjacent, began, children, combined, commence, commencement, drop, entitled, environment, favor, Frog, Horned, implement, indebted, office, originally, promised, relevant, retained, seller, statutory, variance
Financial report summary
?Competition
Marathon Oil • SilverBow Resources • Anadarko Petroleum • EOG Resources • Chesapeake Energy Corp. - Ordinary Shares • Sundance Energy • Millrock Resources • Melrose Industries • Sanchez Energy • EP EnergyManagement Discussion
- As a result of Lonestar filing for bankruptcy and emerging from bankruptcy on November 30, 2020, our financial results are broken out between the Predecessor periods (the three and six months ended June 30, 2020) and the Successor periods (the three and six months ended June 30, 2021). For the three months ended June 30, 2020 (Predecessor), we recognized a net loss of $42.9 million attributable to common shareholders, and for the three months ended June 30, 2021 (Successor), we recognized a net loss of $17.8 million.
- •Continued to focus on reduced operating expenses. Lease operating expenses were $3.65 per BOE for the quarter while gas gathering, processing and transportation came in at $1.65 per BOE; and
- •Continued to build our commodities hedge portfolio to protect our operations from downside price risk. As of August 9, 2021, we had oil hedges covering 5,525 Bbls per day for the remainder of 2021, 3,060 Bbls per day for 2022 and 2,360 Bbls per day for 2023. In addition, on that date, we had natural gas hedges covering 19,365 MMBtu per day of natural gas for the remainder of 2021, 13,745 MMBtu per day for 2022 and 8,743 MMBtu per day for the first half of 2023.