Quarterly Financial Information (Unaudited)
|12 Months Ended|
Dec. 31, 2019
|Quarterly Financial Information (Unaudited)|
|Quarterly Financial Information (Unaudited)||
(20) Quarterly Financial Information (Unaudited)
The Company’s quarterly consolidated financial information for the years ended December 31, 2018 and 2019 is summarized in the tables below (in thousands, except per share amounts). The Company’s quarterly operating results are affected by the volatility of commodity prices and the resulting effect on our production revenues and the fair value of commodity derivatives.
Operating income is calculated as operating revenues minus operating expenses. During the third and fourth quarters of 2019, operating expenses were impacted by impairments for proved properties, unproved properties and equity investments that were material to the quarters as presented. See Note 2 to the consolidated financial statement for more information
The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef