Northern Oil and Gas (NOG) 10-Q 12 Nov 19 2019 Q3 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	9 Months Ended
	Sep. 30, 2019	Nov. 08, 2019
Cover page.
Document Type	10-Q
Document Fiscal Period Focus	Q3
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Amendment Flag	false
Document Fiscal Year Focus	2019
Current Fiscal Year End Date	--12-31
Entity File Number	001-33999
Entity Registrant Name	NORTHERN OIL AND GAS, INC.
Entity Central Index Key	0001104485
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-3848122
Entity Address, Address Line One	601 Carlson Pkwy – Suite 990
Entity Address, City or Town	Minnetonka
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55305
City Area Code	952
Local Phone Number	476-9800
Title of 12(b) Security	Common Stock, par value $0.001
Trading Symbol	NOG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		405,787,759

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current Assets:
Cash and Cash Equivalents	$ 1,901	$ 2,358
Accounts Receivable, Net	103,226	96,353
Advances to Operators	1,314	268
Prepaid Expenses and Other	2,717	12,360
Derivative Instruments	62,531	115,870
Income Tax Receivable	420	1,205
Total Current Assets	172,110	228,415
Oil and Natural Gas Properties, Full Cost Method of Accounting
Proved	4,043,897	3,431,428
Unproved	11,145	4,307
Other Property and Equipment	1,999	998
Total Property and Equipment	4,057,041	3,436,732
Less – Accumulated Depreciation, Depletion and Impairment	(2,380,086)	(2,233,987)
Total Property and Equipment, Net	1,676,955	1,202,745
Derivative Instruments	42,682	61,843
Deferred Income Taxes	420	420
Other Noncurrent Assets, Net	9,842	10,223
Total Assets	1,902,009	1,503,645
Current Liabilities:
Accounts Payable	112,698	55,015
Accrued Liabilities	90,114	83,237
Accrued Interest	17,567	16,468
Debt Exchange Derivative	0	18,183
Contingent Consideration	10,058	58,069
Other Current Liabilities	387	555
Total Current Liabilities	230,824	231,526
Long-term Debt, Net	1,140,072	830,203
Asset Retirement Obligations	16,582	11,946
Other Noncurrent Liabilities	417	105
TOTAL LIABILITIES	1,387,894	1,073,780
COMMITMENTS AND CONTINGENCIES (NOTE 8)
STOCKHOLDERS’ EQUITY
Preferred Stock, Par Value $.001; 5,000,000 Authorized, No Shares Outstanding	0	0
Common Stock, Par Value $.001; 675,000,000 Shares Authorized; 404,346,470 Shares Outstanding at 9/30/2019 378,333,070 Shares Outstanding at 12/31/2018	404	378
Additional Paid-In Capital	1,278,976	1,226,371
Retained Deficit	(765,266)	(796,884)
Total Stockholders’ Equity	514,114	429,865
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 1,902,009	$ 1,503,645

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	675,000,000	675,000,000
Common stock, shares outstanding (in shares)	404,346,470	378,333,070

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
REVENUES
Gain (Loss) on Derivative Instruments, Net	$ 75,892	$ (43,148)	$ (27,139)	$ (105,622)
Total Revenues	233,883	102,269	413,389	235,729
OPERATING EXPENSES
Production Expenses	32,347	18,161	83,146	45,198
Production Taxes	15,391	13,579	41,944	31,633
General and Administrative Expense	4,206	4,674	15,506	9,593
Depletion, Depreciation, Amortization and Accretion	55,566	30,258	146,791	71,485
Impairment of Other Current Assets	5,275	0	7,969	0
Total Operating Expenses	112,784	66,673	295,355	157,909
INCOME FROM OPERATIONS	121,100	35,597	118,034	77,820
OTHER INCOME (EXPENSE)
Interest Expense, Net of Capitalization	(21,510)	(20,438)	(58,836)	(65,948)
Loss on the Extinguishment of Debt	0	(9,542)	(425)	(100,375)
Debt Exchange Derivative Gain/(Loss)	(23)	13,063	1,390	13,063
Contingent Consideration Loss	(5,262)	0	(28,633)	0
Other Income (Expense)	75	299	88	838
Total Other Income (Expense)	(26,719)	(16,618)	(86,416)	(152,423)
INCOME (LOSS) BEFORE INCOME TAXES	94,381	18,979	31,619	(74,603)
INCOME TAX PROVISION (BENEFIT)	0	0	0	0
NET INCOME (LOSS)	$ 94,381	$ 18,979	$ 31,619	$ (74,603)
Net Income (Loss) Per Common Share - Basic (in dollars per share)	$ 0.24	$ 0.06	$ 0.08	$ (0.40)
Net Income (Loss) Per Common Share - Diluted (in dollars per share)	$ 0.24	$ 0.06	$ 0.08	$ (0.40)
Weighted Average Shares Outstanding - Basic (in shares)	396,044,887	300,517,497	382,044,068	188,152,998
Weighted Average Shares Outstanding - Diluted (in shares)	396,530,767	301,755,419	382,744,304	188,152,998
Oil and Gas Sales
REVENUES
Revenue	$ 157,989	$ 145,416	$ 440,519	$ 341,343
Other Revenue
REVENUES
Revenue	$ 3	$ 2	$ 10	$ 5

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Statement of Cash Flows [Abstract]
Net Income (Loss)	$ 31,619	$ (74,603)
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities:
Depletion, Depreciation, Amortization and Accretion	146,791	71,485
Amortization of Debt Issuance Costs	3,948	3,772
Loss on Extinguishment of Debt	425	100,375
Amortization of Bond (Premium) Discount on Long-term Debt	(2,165)	198
Unrealized Loss of Derivative Instruments	62,806	72,303
Gain on Debt Exchange Derivative	(1,390)	(13,063)
Loss on Contingent Consideration	28,633	0
PIK Interest on Second Lien Notes	1,742	0
Stock-Based Compensation Expense	4,280	2,092
Impairment of Other Current Assets	7,969	0
Other	(41)	(112)
Changes in Working Capital and Other Items:
Accounts Receivable, Net	(6,589)	(43,341)
Prepaid and Other Expenses	1,674	(3,216)
Accounts Payable	1,058	4,349
Accrued Interest	2,813	6,128
Payment of Contingent Consideration	(21,164)	0
Accrued Liabilities	6,916	48
Net Cash Provided by Operating Activities	269,323	126,416
CASH FLOWS FROM INVESTING ACTIVITIES
Drilling and Development Capital Expenditures	(206,306)	(164,584)
Acquisition of Oil and Natural Gas Properties	(210,642)	(125,487)
Acquisition Deposit	0	(20,000)
Proceeds from Sale of Oil and Natural Gas Properties	0	22
Proceeds from Sale of Other Property and Equipment	0	46
Purchases of Other Property and Equipment	(1,001)	(87)
Net Cash Used for Investing Activities	(417,948)	(310,090)
CASH FLOWS FROM FINANCING ACTIVITIES
Advances on Revolving Credit Facility	313,000	0
Repayments on Revolving Credit Facility	(126,000)	0
Borrowings on Term Loan Credit Agreement	0	60,000
Repurchases of Second Lien Notes	(10,488)	0
Debt Issuance Costs Paid	(328)	(6,838)
Debt Exchange Derivative Settlements	(1,044)	0
Contingent Consideration Settlements	(11,278)	0
Issuance of Common Stock	0	141,710
Repurchases of Common Stock	(15,108)	0
Restricted Stock Surrenders - Tax Obligations	(584)	(415)
Net Cash Provided by Financing Activities	148,169	194,457
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(456)	10,783
CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD	2,358	102,183
CASH AND CASH EQUIVALENTS – END OF PERIOD	$ 1,901	$ 112,966

CONDENSED STATEMENTS OF STOCKHO

CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Deficit
Beginning balance (in shares) at Dec. 31, 2017		66,791,633
Beginning balance at Dec. 31, 2017	$ (490,841)	$ 67	$ 449,666	$ (940,574)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Common Stock (in shares)		127,999
Issuance of Common Stock	0
Restricted Stock Forfeitures (in shares)		(892,086)
Restricted Stock Forfeitures	(1)	$ (1)
Stock-Based Compensation	(712)		(712)
Restricted Stock Surrenders - Tax Obligations (in shares)		(89,601)
Restricted Stock Surrenders - Tax Obligations	(188)		(188)
Net Income (Loss)	2,965			2,965
Ending balance (in shares) at Mar. 31, 2018		65,937,945
Ending balance at Mar. 31, 2018	(488,776)	$ 66	448,766	(937,609)
Beginning balance (in shares) at Dec. 31, 2017		66,791,633
Beginning balance at Dec. 31, 2017	(490,841)	$ 67	449,666	(940,574)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss)	(74,603)
Ending balance (in shares) at Sep. 30, 2018		334,209,986
Ending balance at Sep. 30, 2018	11,210	$ 334	1,026,053	(1,015,177)
Beginning balance (in shares) at Dec. 31, 2017		66,791,633
Beginning balance at Dec. 31, 2017	$ (490,841)	$ 67	449,666	(940,574)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Common Stock (in shares)	3,295,000
Equity Offerings (in shares)	96,926,000
Debt Exchange Agreements (in shares)	136,064,000
Acquisition of Oil and Natural Gas Properties (in shares)	83,731,000
Ending balance (in shares) at Dec. 31, 2018		378,333,070
Ending balance at Dec. 31, 2018	$ 429,865	$ 378	1,226,371	(796,884)
Beginning balance (in shares) at Mar. 31, 2018		65,937,945
Beginning balance at Mar. 31, 2018	(488,776)	$ 66	448,766	(937,609)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Common Stock (in shares)		3,025,303
Issuance of Common Stock	3	$ 3
Stock-Based Compensation	1,397		1,397
Restricted Stock Surrenders - Tax Obligations (in shares)		(63,820)
Restricted Stock Surrenders - Tax Obligations	(161)		(161)
Equity Offerings (in shares)		96,926,019
Equity Offerings	141,710	$ 97	141,613
Debt Exchange Agreements (in shares)		121,774,822
Debt Exchange Agreements	279,314	$ 122	279,192
Acquisition of Oil and Natural Gas Properties (in shares)		6,000,000
Acquisition of Oil and Natural Gas Properties	15,240	$ 6	15,234
Net Income (Loss)	(96,547)			(96,547)
Ending balance (in shares) at Jun. 30, 2018		293,600,269
Ending balance at Jun. 30, 2018	(147,820)	$ 294	886,041	(1,034,155)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Common Stock (in shares)		42,000
Issuance of Common Stock	0	$ 0
Restricted Stock Forfeitures (in shares)		(18,000)
Restricted Stock Forfeitures	0
Stock-Based Compensation	1,655		1,655
Restricted Stock Surrenders - Tax Obligations (in shares)		(19,338)
Restricted Stock Surrenders - Tax Obligations	(66)		(66)
Equity Offerings (in shares)		0
Equity Offerings	0	$ 0	0
Debt Exchange Agreements (in shares)		14,288,977
Debt Exchange Agreements	48,185	$ 14	48,171
Acquisition of Oil and Natural Gas Properties (in shares)		26,253,578
Acquisition of Oil and Natural Gas Properties	90,277	$ 26	90,251
Net Exercise of Stock Options (in shares)		62,500
Net Exercise of Stock Options	0
Net Income (Loss)	18,979			18,979
Ending balance (in shares) at Sep. 30, 2018		334,209,986
Ending balance at Sep. 30, 2018	11,210	$ 334	1,026,053	(1,015,177)
Beginning balance (in shares) at Dec. 31, 2018		378,333,070
Beginning balance at Dec. 31, 2018	429,865	$ 378	1,226,371	(796,884)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Common Stock (in shares)		3,160,200
Issuance of Common Stock	3	$ 3
Restricted Stock Forfeitures (in shares)		(4,802)
Restricted Stock Forfeitures	0
Stock-Based Compensation	2,832		2,832
Restricted Stock Surrenders - Tax Obligations (in shares)		(220,531)
Restricted Stock Surrenders - Tax Obligations	(558)		(558)
Repurchases of Common Stock (in shares)		(5,635,003)
Repurchases of Common Stock	(15,108)	$ (6)	(15,102)
Contingent Consideration Settlements (in shares)		1,167,544
Contingent Consideration Settlements	2,887	$ 1	2,886
Net Income (Loss)	(107,162)			(107,162)
Ending balance (in shares) at Mar. 31, 2019		376,800,478
Ending balance at Mar. 31, 2019	312,760	$ 377	1,216,429	(904,046)
Beginning balance (in shares) at Dec. 31, 2018		378,333,070
Beginning balance at Dec. 31, 2018	$ 429,865	$ 378	1,226,371	(796,884)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Common Stock (in shares)	3,169,000
Restricted Stock Forfeitures	$ (600)
Equity Offerings (in shares)	0
Debt Exchange Agreements (in shares)	7,235,000
Acquisition of Oil and Natural Gas Properties (in shares)	5,602,000
Net Income (Loss)	$ 31,619
Ending balance (in shares) at Sep. 30, 2019		404,346,470
Ending balance at Sep. 30, 2019	514,114	$ 404	1,278,976	(765,266)
Beginning balance (in shares) at Mar. 31, 2019		376,800,478
Beginning balance at Mar. 31, 2019	312,760	$ 377	1,216,429	(904,046)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Common Stock (in shares)		9,000
Issuance of Common Stock	0	$ 0
Restricted Stock Forfeitures (in shares)		(402,033)
Restricted Stock Forfeitures	0
Stock-Based Compensation	1,750		1,750
Restricted Stock Surrenders - Tax Obligations (in shares)		(9,440)
Restricted Stock Surrenders - Tax Obligations	(26)		(26)
Debt Exchange Agreements (in shares)		5,249,879
Debt Exchange Agreements	12,192	$ 5	12,186
Contingent Consideration Settlements (in shares)		7,788,107
Contingent Consideration Settlements	18,575	$ 8	18,567
Net Income (Loss)	44,399			44,399
Ending balance (in shares) at Jun. 30, 2019		389,435,991
Ending balance at Jun. 30, 2019	389,649	$ 389	1,248,906	(859,647)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted Stock Forfeitures (in shares)		(45,600)
Restricted Stock Forfeitures	0
Stock-Based Compensation	(8)		(8)
Debt Exchange Agreements (in shares)		1,985,530
Debt Exchange Agreements	3,543	$ 2	3,541
Acquisition of Oil and Natural Gas Properties (in shares)		5,602,147
Acquisition of Oil and Natural Gas Properties	11,708	$ 6	11,703
Contingent Consideration Settlements (in shares)		7,368,402
Contingent Consideration Settlements	14,841	$ 7	14,833
Net Income (Loss)	94,381			94,381
Ending balance (in shares) at Sep. 30, 2019		404,346,470
Ending balance at Sep. 30, 2019	$ 514,114	$ 404	$ 1,278,976	$ (765,266)

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND NATURE OF BUSINESS	ORGANIZATION AND NATURE OF BUSINESS Northern Oil and Gas, Inc. (the “Company,” “Northern,” “our” and words of similar import), a Delaware corporation, is an independent energy company engaged in the acquisition, exploration, exploitation, development and production of crude oil and natural gas properties. The Company’s common stock trades on the NYSE American market under the symbol “NOG”. Northern’s principal business is crude oil and natural gas exploration, development, and production with operations in North Dakota and Montana that primarily target the Bakken and Three Forks formations in the Williston Basin of the United States. The Company acquires leasehold interests that comprise of non-operated working interests in wells and in drilling projects within its area of operations. For the nine months ended September 30, 2019, crude oil accounted for 81% of the Company’s total production and 94% of its oil and gas sales.

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The financial information included herein is unaudited. The balance sheet as of December 31, 2018 has been derived from the Company’s audited financial statements for the year ended December 31, 2018. However, such information includes all adjustments (consisting of normal recurring adjustments and change in accounting principles) that are, in the opinion of management, necessary for a fair presentation of financial position, results of operations and cash flows for the interim periods. The results of operations for interim periods are not necessarily indicative of the results to be expected for an entire year. Certain information, accounting policies, and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted in this Form 10-Q pursuant to certain rules and regulations of the Securities and Exchange Commission (“SEC”). The condensed financial statements should be read in conjunction with the audited financial statements for the year ended December 31, 2018, which were included in the Company’s 2018 Annual Report on Form 10-K for the fiscal year ended December 31, 2018. The preparation of financial statements under GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant estimates relate to proved crude oil and natural gas reserves, estimates relating to certain crude oil and natural gas revenues and expenses, fair value of derivative instruments, fair value of contingent consideration, acquisition date fair values of assets acquired and liabilities assumed, impairment of oil and natural gas properties, asset retirement obligations and deferred income taxes. Actual results may differ from those estimates. Reclassifications Certain prior period balances in the balance sheets have been reclassified to conform to the current year presentation. Such reclassifications had no impact on net income, cash flows or stockholders’ equity previously reported. Correction of Presentation Subsequent to the issuance of the Company’s condensed financial statements as of and for the period ended September 30, 2018, the Company identified an immaterial error in the supplemental footnote disclosure of non-cash investing activities in which a “Change in Prepaid Expenses and Other” was improperly included in the amount of $12.4 million. Accordingly, within the “Supplemental Cash Flow Information” section included in this Note 2 below, the Company has removed the line item previously reported as the amount of “Change in Prepaid Expenses and Other.” The error did not impact the Statement of Cash Flows. Adopted and Recently Issued Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-02, Leases (“ASU 2016-02”). The objective of this ASU is to increase transparency and comparability among organizations by recognizing lease assets and liabilities on the balance sheet and disclosing key information about leasing arrangements. FASB subsequently issued various ASUs which provided additional implementation guidance, and these ASUs collectively make up FASB ASC Topic 842 – Leases (“ASC 842”). ASC 842 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The standard permits retrospective application through recognition of a cumulative-effect adjustment at the beginning of either the earliest reporting period presented or the period of adoption. ASC 842 does not apply to leases used in the exploration or use of minerals, oil, natural gas, or other similar non-regenerative resources. The Company adopted ASC 842 effective January 1, 2019 using the modified retrospective method as of the adoption date. The Company has completed the assessment of its existing accounting policies and enhancement of its internal controls. The standard did not have a material impact on the Company’s condensed balance sheets, statement of operations or cash flows. In June 2016 FASB issued ASU 2016-13, Financial Instruments–Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This standard changes how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The standard will replace the currently required incurred loss approach with an expected loss model for instruments measured at amortized cost. The standard is effective for interim and annual periods beginning after December 15, 2019 and shall be applied using a modified retrospective approach resulting in a cumulative effect adjustment to retained earnings upon adoption. The Company continues to evaluate the new standard and is unable to estimate its financial statement impact at this time; however, the impact is not expected to be material. Revenue Recognition The Company’s revenues are primarily derived from its interests in the sale of oil and natural gas production. The Company recognizes revenue from its interests in the sales of oil and natural gas in the period that its performance obligations are satisfied. Performance obligations are satisfied when the customer obtains control of product, when the Company has no further obligations to perform related to the sale, when the transaction price has been determined and when collectability is probable. The sales of oil and natural gas are made under contracts which the third-party operators of the wells have negotiated with customers, which typically include variable consideration that is based on pricing tied to local indices and volumes delivered in the current month. The Company receives payment from the sale of oil and natural gas production from one to three months after delivery. At the end of each month when the performance obligation is satisfied, the variable consideration can be reasonably estimated and amounts due from customers are accrued in trade receivables, net in the balance sheets. Variances between the Company’s estimated revenue and actual payments are recorded in the month the payment is received, however, differences have been and are insignificant. Accordingly, the variable consideration is not constrained. The Company does not disclose the value of unsatisfied performance obligations under its contracts with customers as it applies the practical exemption in accordance with ASC 606. The exemption, as described in ASC 606-10-50-14(a), applies to variable consideration that is recognized as control of the product is transferred to the customer. Since each unit of product represents a separate performance obligation, future volumes are wholly unsatisfied, and disclosure of the transaction price allocated to remaining performance obligations is not required. The Company’s oil is typically sold at delivery points under contracts terms that are common in our industry. The Company’s natural gas produced is delivered by the well operators to various purchasers at agreed upon delivery points under a limited number of contract types that are also common in our industry. Regardless of the contract type, the terms of these contracts compensate the well operators for the value of the oil and natural gas at specified prices, and then the well operators will remit payment to the Company for its share in the value of the oil and natural gas sold. A wellhead imbalance liability equal to the Company’s share is recorded to the extent that the Company’s well operators have sold volumes in excess of its share of remaining reserves in an underlying property. However, for the three and nine months ended September 30, 2019 and 2018, the Company’s natural gas production was in balance, meaning its cumulative portion of natural gas production taken and sold from wells in which it has an interest equaled its entitled interest in natural gas production from those wells. The Company’s disaggregated revenue has two revenue sources, which are oil sales and natural gas and NGL sales, and the Company only operates in one geographic area, the Williston Basin in the United States, primarily in North Dakota and Montana. Oil sales for the three months ended September 30, 2019 and 2018 were $152.8 million and $135.0 million, respectively. Natural gas and NGL sales for the three months ended September 30, 2019 and 2018 were $5.2 million and $10.4 million, respectively. Oil sales for the nine months ended September 30, 2019 and 2018 were $416.3 million and $315.2 million, respectively. Natural gas and NGL sales for the nine months ended September 30, 2019 and 2018 were $24.3 million and $26.2 million, respectively. Net Income (Loss) Per Common Share Basic earnings per share (“EPS”) are computed by dividing net income (loss) (the numerator) by the weighted average number of common shares outstanding for the period (the denominator). Diluted EPS is computed by dividing net income (loss) by the weighted average number of common shares and potential common shares outstanding (if dilutive) during each period. Potential common shares include stock options and restricted stock. The number of potential common shares outstanding relating to stock options and restricted stock is computed using the treasury stock method. The reconciliation of the denominators used to calculate basic EPS and diluted EPS for the three and nine months ended September 30, 2019 and 2018 are as follows: Three Months Ended Nine Months Ended (In thousands, except share and per share data) 2019 2018 2019 2018 Net Income (Loss) $ 94,381 $ 18,979 $ 31,619 $ (74,603) Weighted Average Common Shares Outstanding: Weighted Average Common Shares Outstanding – Basic 396,044,887 300,517,497 382,044,068 188,152,998 Plus: Potentially Dilutive Common Shares Including Stock Options and Restricted Stock 485,880 1,237,922 700,236 — Weighted Average Common Shares Outstanding – Diluted 396,530,767 301,755,419 382,744,304 188,152,998 Net Income (Loss) per Common Share: Basic $ 0.24 $ 0.06 $ 0.08 $ (0.40) Diluted $ 0.24 $ 0.06 $ 0.08 $ (0.40) Shares underlying Restricted Stock Awards and Stock Options Excluded from EPS Due to Anti-Dilutive Effect 88,209 — 40,330 617,429 Supplemental Cash Flow Information The following reflects the Company’s supplemental cash flow information: Nine Months Ended September 30, (In thousands) 2019 2018 Supplemental Cash Items: Cash Paid During the Period for Interest $ 52,916 $ 55,849 Non-cash Operating Activities: Contingent Consideration Settlements in excess of acquisition-date liabilities 18,480 — Non-cash Investing Activities: Oil and Natural Gas Properties Included in Accounts Payable and Accrued Liabilities 178,772 108,216 Capitalized Asset Retirement Obligations 3,703 1,644 Compensation Capitalized on Oil and Gas Properties 296 250 Issuance of Common Stock - Acquisitions of Oil and Natural Gas Properties 11,708 105,517 Issuance of VEN Bakken Note 128,660 — Non-cash Financing Activities: Exchange transactions - non-cash securities issued: Issuance of 8.50% Second Lien Notes due 2023 — 344,279 Issuance of Common Stock - fair value at issuance date — 326,783 Debt Exchange Derivative Liability - fair value at issuance date — 19,354 Issuance of 8.50% Second Lien Notes due 2023 - PIK Interest 3,480 — Debt Exchange Derivative Liability Settlements 15,735 — Contingent Consideration Settlements 17,822 — Exchange Transactions - non-cash securities exchanged: 8.00% Unsecured Senior Notes due 2020 - carrying value — (590,041)

CRUDE OIL AND NATURAL GAS PROPE

CRUDE OIL AND NATURAL GAS PROPERTIES	9 Months Ended
	Sep. 30, 2019
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
CRUDE OIL AND NATURAL GAS PROPERTIES	CRUDE OIL AND NATURAL GAS PROPERTIES The Company follows the full cost method of accounting for crude oil and natural gas operations whereby all costs related to the exploration and development of crude oil and natural gas properties are capitalized into a single cost center (“full cost pool”). Such costs include land acquisition costs, geological and geophysical expenses, carrying charges on non-producing properties, costs of drilling directly related to acquisition, and exploration activities. Internal costs that are capitalized are directly attributable to acquisition, exploration and development activities and do not include costs related to production, general corporate overhead or similar activities. Costs associated with production and general corporate activities are expensed in the period incurred. Under the full cost method of accounting, the Company is required to perform a ceiling test each quarter. The test determines a limit, or ceiling, on the book value of the proved oil and gas properties. Net capitalized costs are limited to the lower of unamortized cost net of deferred income taxes, or the cost center ceiling. The Company did not have any ceiling test impairment for the three and nine months ended September 30, 2019 and 2018, respectively. The book value of the Company’s crude oil and natural gas properties consists of all acquisition costs (including cash expenditures and the value of stock consideration), drilling costs and other associated capitalized costs. Acquisitions are accounted for as purchases and, accordingly, the results of operations are included in the accompanying condensed statements of operations from the closing date of the acquisition. Acquired assets and liabilities assumed are recorded based on their estimated fair value at the time of the acquisition. Acquisitions have been funded with internal cash flow, bank borrowings and the issuance of debt and equity securities. 2019 Acquisitions Not including the VEN Bakken Acquisition described below, the Company acquired oil and natural gas properties, through a number of independent transactions, for a total of $19.1 million and $36.3 million during the three and nine months ended September 30, 2019, respectively. These amounts include $9.2 million and $11.3 million, respectively, of development costs that occurred prior to the closings of the acquisitions. VEN Bakken Acquisition On July 1, 2019, the Company completed its acquisition (the “VEN Bakken Acquisition”) of certain oil and gas properties and interests from VEN Bakken, LLC (“VEN Bakken”), effective as of July 1, 2019. VEN Bakken is a wholly-owned subsidiary of Flywheel Bakken, LLC. At closing the acquired assets consisted of approximately 90.1 net producing wells and 3.3 net wells in process, as well as approximately 18,000 net acres substantially all in North Dakota. The Company also assumed certain crude oil derivative contracts from VEN Bakken as part of the acquisition. The VEN Bakken Acquisition was completed pursuant to the purchase and sale agreement between the Company and VEN Bakken, dated as of April 18, 2019. The total estimated consideration paid by the Company was $312.4 million , consisting of (i) $172.1 million in cash, (ii) 5,602,147 shares of Company common stock valued at $11.7 million, based on the $2.09 per share closing price of Company common stock on the closing date of the acquisition and ( iii) $128.7 million of value attributable to a 6.0% unsecured promissory note due July 1, 2022 issued by the Company to VEN Bakken in the aggregate principal amount of $130.0 million (the “Unsecured VEN Bakken Note”) . The results of operations from the July 1, 2019 closing date through September 30, 2019, represented approximately $26.1 million of revenue and $10.0 million of income from operations. Th e Company incurred $1.8 million o f transactions costs in connection with the acquisition, which are included in general and administrative expense in the condensed statement of operations. The following table reflects the preliminary fair values of the net assets and liabilities as of the date of acquisition: (In thousands) Fair value of net assets: Proved oil and natural gas properties $ 322,128 Asset retirement cost 2,680 Total assets acquired 324,808 Asset retirement obligations (2,680) Derivative instruments (9,694) Net assets acquired $ 312,434 Fair value of consideration paid for net assets: Cash consideration $ 172,066 Issuance of common stock (5.6 million shares at $2.09 per share) 11,708 Unsecured VEN Bakken Note 128,660 Total fair value of consideration transferred $ 312,434 2018 Acquisitions W Energy Acquisition On July 27, 2018, the Company entered into a purchase and sale agreement, which was subsequently amended on September 25, 2018 (as amended, the “W Energy Purchase Agreement”), with WR Operating LLC (“W Energy”), to acquire, effective as of July 1, 2018, approximately 27.2 net producing wells and 5.9 net wells in progress, as well as approximately 10,633 net acres in North Dakota (the “W Energy Acquisition”). On October 1, 2018, the Company closed on the acquisition for total estimated consideration of $341.6 million, consisting of (i) $97.8 million in cash (which reflects the $117.1 million in cash consideration under the W Energy Purchase Agreement, less $2.2 million of working capital adjustments made at closing and $17.0 million of additional estimated post-closing working capital adjustments), (ii) 51,476,961 shares of Company common stock valued at $220.8 million, based on the $4.29 per share closing price of Company common stock on the closing date of the acquisition, and (iii) $23.0 million in value attributable to potential additional contingent consideration in the future (described in more detail below). No material transaction costs were incurred in connection with this acquisition. The following table reflects the fair values of the net assets and liabilities as of the date of acquisition: (In thousands) Fair value of net assets: Proved oil and natural gas properties $ 341,633 Asset retirement cost 939 Total assets acquired 342,572 Asset retirement obligations (939) Net assets acquired $ 341,633 Fair value of consideration paid for net assets: Cash consideration $ 97,838 Issuance of common stock (51.5 million shares at $4.29 per share) 220,836 Contingent consideration 22,959 Total fair value of consideration transferred $ 341,633 A contingent consideration liability arising from potential additional consideration in connection with the W Energy Acquisition has been recognized at its fair value. The amount of additional contingent consideration payable by the Company, if any, is dependent upon the performance of the Company’s share price over a thirteen-month period ending with October 2019. The acquisition date fair value of the potential additional consideration, totaling $23.0 million, was recorded within contingent consideration liabilities on the Company’s condensed balance sheets. Changes in the fair value of the liability (that were not accounted for as revisions of the acquisition date fair value) are recorded in other income (expense) on the Company’s condensed statement of operations. Pivotal Acquisition On July 17, 2018, the Company entered into purchase and sale agreements with Pivotal Williston Basin, LP and Pivotal Williston Basin II, LP, to acquire approximately 20.8 net producing wells and 2.2 net wells in process, as well as approximately 444 net acres in North Dakota (the “Pivotal Acquisition”). On September 17, 2018, the Company closed on the acquisition for total estimated consideration of $146.1 million, consisting of (i) $48.2 million in cash (which reflects the $68.4 million of aggregate cash consideration provided for in the purchase agreements, less $7.8 million of working capital adjustments made at closing and $12.4 million of additional estimated post-closing working capital adjustments), (ii) 25,753,578 shares of the Company’s common stock valued at $88.6 million, based on the $3.44 per share closing price of the Company’s common stock on the closing date of the acquisition, and (iii) $9.4 million in value attributable to potential additional contingent consideration (described in more detail below). No material transaction costs were incurred in connection with this acquisition. The following table reflects fair values of the net assets and liabilities as of the date of acquisition: (In thousands) Fair value of net assets: Proved oil and natural gas properties $ 146,134 Asset retirement cost 644 Total assets acquired 146,778 Asset retirement obligations (644) Net assets acquired $ 146,134 Fair value of consideration paid for net assets: Cash consideration $ 48,189 Issuance of common stock (25.8 million shares at $3.44 per share) 88,592 Contingent consideration 9,353 Total fair value of consideration transferred $ 146,134 A contingent consideration liability arising from potential additional consideration in connection with the Pivotal Acquisition has been recognized at its fair value. The amount of additional contingent consideration payable by the Company, if any, is dependent upon the performance of the Company’s share price over a thirteen month period ending with October 2019. The acquisition date fair value of the potential additional consideration, totaling $9.4 million, was recorded within contingent consideration liabilities on the Company’s condensed balance sheets. Changes in the fair value of the liability (that were not accounted for as revisions of the acquisition date fair value) are recorded in other income (expense) on the Company’s condensed statement of operations. Salt Creek Acquisition On April 25, 2018, the Company entered into a purchase and sale agreement with Salt Creek Oil and Gas, LLC, to acquire 64 gross, 5.5 net producing (PDP) wells, 31 gross, 1.5 net drilling and completing (PDNP) wells and 1,319 net acres located in McKenzie and Mountrail counties of North Dakota. On June 4, 2018, the Company closed the transaction for consideration of $60.0 million which is comprised of $44.7 million of cash consideration and $15.2 million of common stock consideration. No material transaction costs were incurred in connection with this acquisition. The following table reflects the fair values of the net assets and liabilities as of the date of acquisition: (In thousands) Fair value of net assets: Proved oil and natural gas properties $ 59,978 Asset retirement cost 154 Total assets acquired 60,132 Asset retirement obligations (154) Net assets acquired $ 59,978 Fair value of consideration paid for net assets: Cash consideration $ 44,738 Issuance of common stock (6.0 million shares at $2.54 per share) 15,240 Total fair value of consideration transferred $ 59,978 Pro Forma Information The following summarized unaudited pro forma condensed statement of operations information for the three and nine months ended September 30, 2018, and for the nine months ended September 30, 2019, assumes that the VEN Bakken Acquisition, the W Energy Acquisition and the Pivotal Acquisition each occurred as of January 1, 2018. There is no pro forma information included for the three months ended September 30, 2019, because the Company’s actual financial results for such period fully reflect these acquisitions. The Company prepared the following summarized unaudited pro forma financial results for comparative purposes only. The summarized unaudited pro forma information may not be indicative of the results that would have occurred had the Company completed all of these acquisitions as of January 1, 2018, or that would be attained in the future. Nine Months Ended Three Months Ended Nine Months Ended (In thousands) September 30, 2019 September 30, 2018 September 30, 2018 Revenues $ 441,716 $ 176,312 $ 436,727 Net Income (Loss) 11,564 34,725 (41,221) Unproved Properties All properties that are not classified as proved properties are considered unproved properties and, thus, the costs associated with such properties are not subject to depletion. Once a property is classified as proved, all associated acreage and drilling costs are subject to depletion. The Company historically has acquired unproved properties by purchasing individual or small groups of leases directly from mineral owners, landmen, or lease brokers, which leases historically have not been subject to specified drilling projects, and by purchasing lease packages in identified project areas controlled by specific operators. The Company generally participates in drilling activities on a heads up basis by electing whether to participate in each well on a well-by-well basis at the time wells are proposed for drilling. The Company believes that the majority of its unproved costs will become subject to depletion within the next five years by proving up reserves relating to the acreage through exploration and development activities, by impairing the acreage that will expire before the Company can explore or develop it further or by determining that further exploration and development activity will not occur. The timing by which all other properties will become subject to depletion will be dependent upon the timing of future drilling activities and delineation of its reserves. Capitalized costs associated with impaired unproved properties and capitalized costs related to properties having proved reserves, plus the estimated future development costs and asset retirement costs, are depleted and amortized on the unit-of-production method. Under this method, depletion is calculated at the end of each period by multiplying total production for the period by a depletion rate. The depletion rate is determined by dividing the total unamortized cost base plus future development costs by net equivalent proved reserves at the beginning of the period. The costs of unproved properties are withheld from the depletion base until such time as they are either developed or abandoned. When proved reserves are assigned or the property is considered to be impaired, the cost of the property or the amount of the impairment is added to costs subject to depletion and full cost ceiling calculations. For the three months ended September 30, 2019 and 2018, the Company expired leases of $0.8 million and $3.1 million, respectively. For the nine months ended September 30, 2019 and 2018, the Company expired leases of $2.5 million and $8.1 million, respectively.

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT The Company’s long-term debt consists of the following: September 30, 2019 (In thousands) Principal Balance Unamortized Premium/(Discount) Debt Issuance Costs, Net Long-term Debt, Net Second Lien Notes due 2023 $ 688,491 $ 10,814 $ (14,817) $ 684,488 Revolving Credit Facility (1) 327,000 — — 327,000 Unsecured VEN Bakken Note 130,000 (1,256) (160) 128,584 Total $ 1,145,491 $ 9,558 $ (14,977) $ 1,140,072 December 31, 2018 Principal Balance Unamortized Premium Debt Issuance Costs, Net Long-term Debt, Net Second Lien Notes due 2023 $ 695,140 $ 13,237 $ (18,173) $ 690,203 Revolving Credit Facility (1) 140,000 — — 140,000 Total $ 835,140 $ 13,237 $ (18,173) $ 830,203 ________________ (1) Debt issuance costs related to the Company’s revolving credit facility of $4.4 million and $5.1 million as of September 30, 2019 and December 31, 2018, respectively, are recorded in “Other Noncurrent Assets, Net” on the balance sheets. Revolving Credit Facility On October 5, 2018, the Company entered into a $750.0 million revolving credit facility (the “Revolving Credit Facility”) with Royal Bank of Canada, as administrative agent, and the lenders from time to time party thereto. The revolving credit agreement is scheduled to mature 5 years from the closing date, provided that the maturity date shall be 91 days prior to the scheduled maturity date of the earlier of (i) the Second Lien Notes (defined below) if any Second Lien Notes remain outstanding on such date or (ii) the Purchaser Note (as defined in Note 12 below) if any principal amount of the Purchaser Note remains outstanding on such date. The revolving credit agreement is subject to a borrowing base with maximum loan value to be assigned to the proved reserves attributable to the Company and its subsidiaries’ (if any) oil and gas properties. The borrowing base as of September 30, 2019 was $425.0 million, which is the maximum amount of borrowings that the indenture for the Second Lien Notes permits the Company to have outstanding under the Revolving Credit Facility. The borrowing base will be redetermined semiannually on or around April 1st and October 1st, with one interim “wildcard” redetermination available between scheduled redeterminations. The April 1st scheduled redetermination shall be based on a January 1st engineering report audited by a 3rd party (reasonably acceptable by the Agent). At the Company’s option, borrowings under the revolving credit agreement shall bear interest at the base rate or LIBOR plus an applicable margin. Base rate loans bear interest at a rate per annum equal to the greatest of: (i) the agent bank’s prime rate; (ii) the federal funds effective rate plus 50 basis points; and (iii) the adjusted LIBOR rate for a one-month interest period plus 100 basis points. The applicable margin for base rate loans ranges from 75 to 175 basis points, and the applicable margin for LIBOR loans ranges from 175 to 275 basis points, in each case depending on the percentage of the borrowing base utilized. The revolving credit agreement contains negative covenants that limit the Company’s ability, among other things, to pay dividends, incur additional indebtedness, sell assets, enter into certain derivatives contracts, change the nature of its business or operations, merge, consolidate, or make certain types of investments. In addition, the revolving credit agreement requires that the Company comply with the following financial covenants: (i) as of the date of determination, the ratio of total net debt to EBITDAX (as defined in the revolving credit agreement) shall be no more than 4.00 to 1.00, measured on a pro forma rolling four quarter basis, and (ii) the current ratio (defined as consolidated current assets including unused amounts of the total commitments, but excluding non-cash assets under ASC 815, divided by consolidated current liabilities excluding current non-cash obligations under ASC 815 and current maturities under the Revolving Credit Facility, the Second Lien Notes and the Unsecured VEN Bakken Note) is not permitted to be less than 1.00. See Note 12 below regarding recent amendments to the foregoing covenants. The Company’s obligations under the revolving credit agreement may be accelerated, subject to customary grace and cure periods, upon the occurrence of certain Events of Default (as defined in the revolving credit agreement). Such Events of Default include customary events for a financing agreement of this type, including, without limitation, payment defaults, the inaccuracy of representations and warranties, defaults in the performance of affirmative or negative covenants, defaults on other indebtedness of us or the Company’s subsidiaries, defaults related to judgments and the occurrence of a Change in Control (as defined in the revolving credit agreement). The Company’s obligations under the Revolving Credit Facility are secured by mortgages on not less than 85% of the value of proven reserves associated with the oil and gas properties included in the determination of the borrowing base. Additionally, the Company entered into a Guaranty and Collateral Agreement in favor of the Agent for the secured parties, pursuant to which the Company’s obligations under the revolving credit agreement are secured by a first priority security interest in substantially all of the Company’s assets. Second Lien Notes due 2023 On May 15, 2018, the Company issued 8.500% senior secured second lien notes due 2023 (the “Second Lien Notes”) with an aggregate principal amount of $344.3 million (the “Original 2L Notes”) in exchange for certain previously outstanding 8.000% senior unsecured notes due June 1, 2020 (the “Unsecured Notes”). On October 5, 2018, the Company issued an additional $350.0 million aggregate principal amount of Second Lien Notes (the “Additional 2L Notes”), the proceeds of which were used in connection with the retirement of the Company’s prior term loan credit agreement. In addition, as of and through September 30, 2019, the Company had issued another $4.3 million of additional aggregate principal amount of Second Lien Notes pursuant to the interest payment-in-kind provisions thereof. During the nine months ended September 30, 2019, the Company repurchased and retired $10.1 million in aggregate principal amount of Second Lien Notes. The terms of the Second Lien Notes include those stated in the Indenture entered into on May 15, 2018 by the Company and Wilmington Trust, National Association, as trustee (the “Original 2L Indenture”), as amended by the First Supplemental Indenture, dated September 18, 2018 (the “First Supplemental 2L Indenture”), and the Second Supplemental Indenture, dated October 5, 2018 (the “Second Supplemental 2L Indenture” and, together with the Original 2L Indenture and the First Supplemental 2L Indenture, the “2L Indenture”). The Second Lien Notes are the senior secured obligations of the Company and rank equal in right of payment to all existing and future senior indebtedness of the Company and its subsidiaries. The Second Lien Notes are secured by second priority security interests in substantially all assets of the Company, subject to certain exceptions. The Second Lien Notes will be guaranteed by all of the Company’s direct and indirect subsidiaries that guarantee indebtedness under any other indebtedness for borrowed money of the Company or any of the Company’s subsidiary guarantors. As of September 30, 2019, the Company did not have any subsidiaries. The Second Lien Notes will mature on May 15, 2023. Interest on the Second Lien Notes accrues at a rate of 8.500% per annum payable in cash quarterly in arrears on the first day of each calendar quarter. Beginning on July 1, 2018, the interest rate was increased by 1.000% per annum, which increase shall be payable in kind (the “PIK Component”). Commencing June 30, 2018, and as of each December 31st and June 30th thereafter, if the Company’s total debt to EBITDAX ratio is (i) less than 3.00 to 1.00 as of such date, the PIK Component shall cease accruing effective as of the next interest payment date, or (ii) greater than or equal to 3.00 to 1.00 as of such date or if the Company fails to deliver financial statements, the PIK Component shall continue to accrue (or, if then not accruing, automatically commence accruing as of the next interest payment date) and be payable quarterly. The PIK Component began accruing on June 30, 2018 and ceased accruing on March 31, 2019. Additionally, if the Company incurs junior lien or unsecured debt with a cash interest rate in excess of 9.500%, the cash rate on the Second Lien Notes will be increased by such excess. Default interest will be payable in cash on demand at the then applicable interest rate plus 3.000% per annum. The Company may redeem all or a portion of any of the Second Lien Notes at the following redemption prices during the following time periods (plus accrued and unpaid interest on the Second Lien Notes redeemed): (i) from and after May 15, 2018 until May 15, 2021, 104%, (ii) on and after May 15, 2021 until May 15, 2022, 102%, and (iii) on and after May 15, 2022, 100%; provided that any redemption of Second Lien Notes (or the acceleration of Second Lien Notes) prior to May 15, 2020 shall also be accompanied by a make whole premium. Subject to the terms of an intercreditor agreement, the Company is also required to offer to prepay the Second Lien Notes with 100% of the net cash proceeds of asset sales, casualty events and condemnations in excess of $20.0 million not required to be used to pay down the loans under the Revolving Credit Facility, subject to customary exclusions and reinvestment provisions. Mandatory prepayment offers will be subject to payment of the make whole premium and redemption price set forth above, as applicable. If a change of control occurs, the Company will be required to offer to repurchase the Second Lien Notes at the repurchase price of 101% of the principal amount of repurchased Second Lien Notes (subject to the prepayment provisions of the Revolving Credit Facility). The Second Lien Notes contain negative covenants that limit the Company’s ability, among other things, to pay cash dividends, incur additional indebtedness, sell assets, enter into certain derivatives contracts, change the nature of its business or operations, merge, consolidate, make certain types of investments, amend other debt documents, and incur any additional debt on a subordinated or junior basis to the Revolving Credit Facility and on a senior basis to the Second Lien Notes. The Second Lien Notes do not include any financial maintenance covenants. The obligations of the Company under the Second Lien Notes may be accelerated upon the occurrence of an Event of Default (as such term is defined in the 2L Indenture). Events of Default include customary events for a capital markets debt financing of this type, including, without limitation, payment defaults, the inaccuracy of representations and warranties, defaults in the performance of affirmative or negative covenants, defaults on other indebtedness of the Company or its subsidiaries, bankruptcy or related defaults, defaults related to judgments and the occurrence of a Change of Control (as such term is defined in the 2L Indenture). Unsecured VEN Bakken Note On July 1, 2019, in connection with the completion of the VEN Bakken Acquisition, the Company issued the Unsecured VEN Bakken Note in the original principal amount of $130.0 million . Fifty percent (50%) of the original principal amount of the Unsecured VEN Bakken Note is required to be repaid by the Company on or before January 1, 2021, and the remaining unpaid principal amount is required to be repaid by the Company on or before July 1, 2022, in each case together with all accrued but unpaid interest thereon. Interest, at a rate of 6.0% per annum, is due quarterly in arrears on the first day of each calendar quarter, commencing on October 1, 2019. The Unsecured VEN Bakken Note does not include any financial maintenance covenants and is unsecured.

COMMON AND PREFERRED STOCK

COMMON AND PREFERRED STOCK	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
COMMON AND PREFERRED STOCK	COMMON AND PREFERRED STOCK The Company’s Restated Certificate of Incorporation authorizes the issuance of up to 680,000,000 shares. The shares are classified in two classes, consisting of 675,000,000 shares of common stock, par value $0.001 per share, and 5,000,000 shares of preferred stock, par value $0.001 per share. The board of directors is authorized to establish one or more series of preferred stock, setting forth the designation of each such series, and fixing the relative rights and preferences of each such series. The Company has neither designated nor issued any shares of preferred stock. Common Stock The following is a schedule of changes in the number of shares of common stock outstanding during the nine months ended September 30, 2019 and the year ended December 31, 2018: (In thousands) Nine Months Ended Year Ended December 31, 2018 Beginning Balance 378,333 66,792 Repurchases of Common Stock (5,635) (7,360) Stock Options Exercised - Net — 63 Restricted Stock Grants 3,169 3,295 Debt Exchanges 7,235 136,064 Equity Offerings — 96,926 Stock Consideration for Acquisitions of Oil and Natural Gas Properties 5,602 83,731 Contingent Consideration Settlements 16,324 — Other Surrenders - Tax Obligations (230) (267) Other Forfeitures (452) (911) Ending Balance 404,346 378,333 2019 Activity During the nine months ended September 30, 2019, 0.2 million shares of common stock were surrendered by certain employees of the Company to cover tax obligations in connection with their restricted stock awards. The total value of these shares was approximately $0.6 million, which is based on the market prices on the dates the shares were surrendered. During the nine months ended September 30, 2019, the Company issued 5.6 million shares of common stock as consideration for the VEN Bakken Acquisition (see Note 3). During the nine months ended September 30, 2019, the Company elected to issue 8.8 million shares of common stock to satisfy contingent consideration owed in connection with the Pivotal Acquisition (see Note 3). During the nine months ended September 30, 2019, the Company elected to issue 7.6 million shares of common stock to satisfy contingent consideration owed in connection with the W Energy Acquisition (see Note 3). During the nine months ended September 30, 2019, the Company elected to issue 7.2 million shares of common stock to satisfy obligations owed in connection with the debt exchange derivative liabilities (see Note 10). Stock Repurchase Program In May 2011, the Company’s board of directors approved a stock repurchase program to acquire up to $150.0 million of the Company’s outstanding common stock. The stock repurchase program allows the Company to repurchase its shares from time to time in the open market, block transactions and in negotiated transactions. During the nine months ended September 30, 2019, the Company repurchased 5.6 million shares of its common stock under the stock repurchase program at a total cost of $16.3 million, of which $1.2 million was recorded as a settlement of contingent consideration liabilities. During the three months ended September 30, 2019 and the three and nine months ended September 30, 2018, the Company did not repurchase shares of its common stock under the stock repurchase program. The Company’s accounting policy upon the repurchase of shares is to deduct its par value from common stock and to reflect any excess of cost over par value as a deduction from Additional Paid-in Capital.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATIONThe Company’s 2018 Equity Incentive Plan (the “2018 Plan”), which replaced the Company’s prior 2013 Incentive Plan (the “2013 Plan”), authorized 15,000,000 shares for grant under the 2018 Plan, plus the 769,775 shares remaining available for future grants under the 2013 Plan on the date the stockholders approved the 2018 Plan. No future awards will be made under the 2013 Plan. The 2013 Plan continues to govern awards that were made thereunder, which remain in effect pursuant to their terms. As of September 30, 2019, there were 12,953,010 shares available for future awards under the 2018 Plan. The Company recognizes the fair value of stock-based compensation awards expected to vest over the requisite service period as a charge against earnings, net of amounts capitalized. The Company’s stock-based compensation awards are accounted for as equity instruments and are included in the “General and administrative” line item in the unaudited statements of operations. The Company capitalizes a portion of stock-based compensation for employees who are directly involved in the acquisition of oil and natural gas properties into the full cost pool. Capitalized stock-based compensation is included in the “Oil and natural gas properties” line item on the unaudited balance sheets. The 2018 Plan and 2013 Plan award types are summarized as follows: Restricted Stock Awards The Company issues restricted stock awards (“RSAs”) subject to various vesting conditions as compensation to executive officers, employees and directors of the Company. RSAs issued to employees and executive officers generally vest over three years, provided that any performance and/or market conditions are also met. RSAs issued to directors generally vest over one year, provided that any performance and/or market conditions are also met. For RSAs subject to service and/or performance vesting conditions, the grant-date fair value is established based on the closing price of the Company’s common stock on such date. Stock-based compensation expense for awards subject to only service conditions is recognized on a straight-line basis over the service period. Stock-based compensation expense for awards with both service and performance conditions is recognized on a graded basis only if it is probable that the performance condition will be achieved. The Company accounts for forfeitures of awards granted under these plans as they occur in determining stock-based compensation expense. For awards subject to a market condition, the grant-date fair value is estimated using a Monte Carlo valuation model. The Company recognizes stock-based compensation expense for awards subject to market-based vesting conditions regardless of whether it becomes probable that these conditions will be achieved or not, and stock-based compensation expense for any such awards is not reversed if vesting does not actually occur. The Monte Carlo model is based on random projections of stock price paths and must be repeated numerous times to achieve a probabilistic assessment. Expected volatility is calculated based on the historical volatility and implied volatility of the Company’s common stock, and the risk-free interest rate is based on U.S. Treasury yield curve rates with maturities consistent with the three-year vesting period. The key assumptions used in valuing these market-based awards were as follows: 2019 Risk-free interest rate 2.57 % Dividend yield — % Expected volatility 85.00 % Company's closing stock price on grant date $ 2.71 During 2018, RSAs subject to service and performance-based vesting conditions were granted to employees and executive officers under the 2013 Plan. Vesting of these awards was contingent on the Company’s annualized Adjusted EBITDA as compared to specified targets for the fourth quarter of 2018. The Company assessed the probability of achieving the performance condition throughout the performance period using its internal financial forecasts. The weighted average grant date fair value of these service and performance-based RSAs was $2.70 per share. Also during 2018, RSAs subject to service and market-based vesting conditions were granted to employees, executive officers, and directors under the 2013 Plan. Vesting of these awards was and is contingent on the Company’s stock price performance relative to specified targets. The weighted average grant date fair value of these service and market-based RSAs was $1.67 per share. During 2019, RSAs subject to service, market, and performance-based vesting conditions were granted to employees and executive officers under the 2018 Plan. Vesting of these awards is contingent on the Company’s debt-adjusted cash flow per share as compared to specified targets. The weighted average grant date fair value of these service, performance, and market-based RSAs was $0.98 per share. Also during 2019, RSAs subject to service and market-based vesting conditions were granted to employees, executive officers, and directors under the 2018 Plan. Vesting of these awards is contingent on the Company’s stock price performance relative to specified targets. The weighted average grant date fair value of these service and market-based RSAs was $1.82 per share. The following table reflects the outstanding RSAs and activity related thereto for the nine months ended September 30, 2019: Service-based Awards Service and Performance-based Awards Service and Market-based Awards Service, Performance, and Market-based Awards Number of Shares Weighted-average Grant Date Fair Value Number of Shares Weighted-average Grant Date Fair Value Number of Shares Weighted-average Grant Date Fair Value Number of Shares Weighted-average Grant Date Fair Value Outstanding at December 31, 2018 632,759 $ 2.72 1,018,500 $ 2.70 1,176,600 $ 1.67 — $ — Shares granted 847,200 2.71 — — 1,254,000 1.82 1,068,000 0.98 Shares forfeited (32,402) 2.76 (4,000) 2.70 (416,033) 1.68 — — Shares vested (896,221) 2.82 (639,500) 2.70 (264,203) 1.67 — — Outstanding at September 30, 2019 551,336 $ 2.56 375,000 $ 2.70 1,750,364 $ 1.78 1,068,000 $ 0.98 At September 30, 2019, there was $3.1 million of total unrecognized compensation expense related to unvested RSAs. That cost is expected to be recognized over a weighted average period of 0.6 years. For the nine months ended September 30, 2019 and 2018, the total fair value of the Company’s restricted stock awards vested was $3.9 million and $3.1 million, respectively. The following has been recorded to stock-based compensation expense for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2019 2018 2019 2018 Restricted stock award compensation $ (8) $ 1,655 $ 4,577 $ 2,342 Less amounts capitalized in oil and natural gas properties (106) (142) (296) (250) Total stock-based compensation, net $ (114) $ 1,513 $ 4,280 $ 2,092

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS In January 2019, the Company repurchased 3.7 million shares of Company common stock from W Energy Partners LLC (“W Energy”) for cash consideration of $11.1 million. The repurchased shares were originally issued by the Company as partial consideration for the W Energy Acquisition described in Note 3 above. W Energy beneficially owned in excess of 5% of the Company’s outstanding common stock at the time of the repurchase transaction. The Company’s Audit Committee is responsible for approving all transactions involving related parties, including the transaction identified above.

COMMITMENTS & CONTINGENCIES

COMMITMENTS & CONTINGENCIES	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS & CONTINGENCIES	COMMITMENTS & CONTINGENCIES Litigation The Company is engaged in various proceedings incidental to the normal course of business. Due to their nature, such legal proceedings involve inherent uncertainties, including but not limited to, court rulings, negotiations between affected parties and governmental intervention. Based upon the information available to the Company and discussions with legal counsel, it is the Company’s opinion that the outcome of the various legal actions and claims that are incidental to its business will not have a material impact on the Company’s financial position, results of operations or cash flows. Such matters, however, are subject to many uncertainties, and the outcome of any matter is not predictable with assurance. The Company’s interests in certain crude oil and natural gas leases from the State of North Dakota are subject to an ongoing dispute over the ownership of minerals underlying the bed of the Missouri River within the boundaries of the Fort Berthold Reservation. The ongoing dispute is between the State of North Dakota and three affiliated tribes, both of whom have purported to lease mineral rights in tracts of riverbed within the reservation boundaries. In the event the ongoing dispute results in a final judgment that is adverse to the Company’s interests, the Company would be required to reverse approximately $4.8 million in revenue (net of accrued taxes) that has been accrued since the first quarter of 2013 based on the Company’s purported interest in the crude oil and natural gas leases at issue. Due to the long-term nature of this title dispute, the $4.8

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company utilizes the asset and liability approach to measuring deferred tax assets and liabilities based on temporary differences existing at each balance sheet date using currently enacted tax rates. A valuation allowance for the Company’s deferred tax assets is established if, in management’s opinion, it is more likely than not that a valuation allowance is needed, looking at both positive and negative factors. Due to uncertainty surrounding the realization of its deferred tax assets, the Company has continued to record a valuation allowance against its net deferred tax assets. The income tax provision (benefit) for the three and nine months ended September 30, 2019 and 2018 consists of the following: Three Months Ended Nine Months Ended (In thousands) 2019 2018 2019 2018 Current Income Tax Provision (Benefit) $ — $ — $ — $ — Deferred Income Tax Provision (Benefit) Federal 19,328 3,812 6,431 (14,748) State 4,248 840 1,420 (3,251) Valuation Allowance (23,576) (4,652) (7,851) 17,999 Total Income Tax Provision (Benefit) $ — $ — $ — $ — Income tax provision (benefit) during interim periods is based on applying an estimated annual effective income tax rate to year-to-date income (loss), plus any unusual or infrequently occurring items that are recorded in the interim period. The provision for the three and nine months ended September 30, 2019, differs from the amount that would be provided by applying the statutory U.S. federal income tax rate of 21% to income before income taxes. The lower effective tax rate in 2019 and 2018 relates to the valuation allowance placed on the net deferred tax assets, in addition to state income taxes and estimated permanent differences. A valuation allowance is established to reduce deferred tax assets if it is determined that it is more likely than not that the related tax benefit will not be realized. On a quarterly basis, management evaluates the need for and adequacy of valuation allowances based on the expected realizability of the deferred tax assets and adjusts the amount of such allowances, if necessary. During 2019, in evaluating whether it was more likely than not that the Company’s net deferred tax assets were realized through future net income, management considered all available positive and negative evidence, including (i) its earnings history, (ii) its ability to recover net operating loss carry-forwards, (iii) the projected future income and results of operations, and (iv) its ability to use tax planning strategies. Based on all the evidence available, management determined it was more likely than not that the net deferred tax assets, other than the deferred tax asset related to the Company’s alternative minimum tax credit, were not realizable, therefore a valuation allowance of $115.9 million was recorded at September 30, 2019. Tax benefits are recognized only for tax positions that are more likely than not to be sustained upon examination by tax authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely to be realized upon ultimate settlement. Unrecognized tax benefits are tax benefits claimed in the Company’s tax returns that do not meet these recognition and measurement standards. The Company has no liabilities for unrecognized tax benefits. The Company’s policy is to recognize potential interest and penalties accrued related to unrecognized tax benefits within income tax expense. For the three and nine months ended September 30, 2019 and 2018, the Company did not recognize any interest or penalties in its condensed statements of operations, nor did it have any interest or penalties accrued in its condensed balance sheets at September 30, 2019 and 2018 relating to unrecognized benefits.

FAIR VALUE

FAIR VALUE	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The Company uses a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following: Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Financial Assets and Liabilities As required, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. The following tables set forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis: Fair Value Measurements at September 30, 2019 Using (In thousands) Quoted Prices in Active Markets for Identical Assets (Liabilities) Significant Other Observable Inputs Significant Unobservable Inputs Commodity Derivatives – Current Asset (crude oil price and basis swaps) $ — $ 62,531 $ — Commodity Derivatives – Noncurrent Asset (crude oil price and basis swaps and crude oil price swaptions) — 42,682 — Contingent Consideration – Current Liabilities — — (10,058) Total $ — $ 105,214 $ (10,058) Fair Value Measurements at December 31, 2018 Using (In thousands) Quoted Prices in Active Markets for Identical Assets (Liabilities) Significant Other Observable Inputs Significant Unobservable Inputs Commodity Derivatives – Current Asset (crude oil price and basis swaps) $ — $ 115,870 $ — Commodity Derivatives – Noncurrent Asset (crude oil price swaps) — 61,843 — Contingent Consideration – Current Liabilities — — (58,069) Debt Exchange Derivatives – Current Liabilities — — (18,183) Total $ — $ 177,713 $ (76,252) Commodity Derivatives. The Level 2 instruments presented in the tables above consist of commodity derivative instruments (see Note 11). The fair value of the Company’s derivative financial instruments is determined based upon future prices, volatility and time to maturity, among other things. Counterparty statements are utilized to determine the value of the commodity derivative instruments and are reviewed and corroborated using various methodologies and significant observable inputs. The Company’s and the counterparties’ nonperformance risk is evaluated. The fair value of all derivative contracts is reflected on the condensed balance sheet. The current derivative asset and liability amounts represent the fair values expected to be settled in the subsequent twelve months. Contingent Consideration. The fair value of the contingent consideration potentially payable by the Company in connection with both the Pivotal Acquisition and W Energy Acquisition, which in certain circumstances the Company is permitted to settle in either cash or shares of common stock, was determined using Monte Carlo simulation models. Significant inputs used in the fair value measurements include (i) the Company’s common stock price, (ii) risk-free rates based on U.S. Treasury rates, (iii) volatility of the Company’s common stock, and (iv) expected average daily trading volumes. The expected volatility and average daily trading volumes used in the valuation were unobservable in the marketplace and significant to the valuation methodology, and the contingent consideration’s fair value was therefore designated as Level 3 in the valuation hierarchy. Changes in the fair value of this liability is included in other income (expense) in the Company’s condensed statements of operations. Debt Exchange Derivatives. During the second and third quarters of 2018, the Company entered into and closed a number of independent, separately negotiated exchange agreements with holders of the Company’s previously outstanding Unsecured Notes. Pursuant to each such exchange agreement, the Company agreed to issue the holder shares of its common stock in exchange for certain Unsecured Notes held by such holder. The Company had embedded derivatives related to certain of these exchange agreements that contained provisions whereby if at the end of the applicable restricted sale period the Company’s common stock trades below specified levels, the Company may be required to pay additional consideration to the holder in the form of cash or additional shares of common stock. The Company determined these provisions were not clearly and closely related to the shares of common stock issued under the exchange agreements and, therefore, bifurcated these embedded features and reflected them at fair value in the financial statements. Prior to their settlements, the fair values of these embedded derivatives were determined using Monte Carlo simulations which considered various inputs including (i) the Company’s common stock price, (ii) risk-free rates based on U.S. Treasury rates, (iii) volatility of the Company’s common stock, and (iv) expected average daily trading volumes. The expected volatility and average daily trading volumes used in the valuation were unobservable in the marketplace and significant to the valuation methodology, and the embedded derivatives’ fair value was therefore designated as Level 3 in the valuation hierarchy. Changes in the fair values of these liabilities are included in other income (expense) in the Company’s condensed statements of operations. As of September 30, 2019, there were no remaining outstanding debt exchange derivative liabilities. The following table summarizes the changes in fair value of the Company’s financial instruments classified as Level 3 in the fair value hierarchy: (In thousands) Nine Months Ended September 30, 2019 Beginning Balance $ (76,252) Debt exchange derivative liability settlements 16,793 Change in fair value of debt exchange derivative liability 1,390 Contingent consideration settlements (1) 76,644 Change in fair value of contingent consideration (28,633) Ending Balance $ (10,058) ______________ (1) Includes $7.9 million of contingent consideration settlements included in accounts payable at September 30, 2019. Fair Value of Other Financial Instruments The carrying amounts of cash equivalents, receivables and payables approximate fair value due to the highly liquid or short-term nature of these instruments. The carrying amount of the Company’s long-term debt reported in the condensed balance sheet at September 30, 2019 is $1,140.1 million, which includes $684.5 million of second lien notes, $327.0 million of borrowings under the Company’s Revolving Credit Facility and $128.6 million of Unsecured VEN Bakken Note (See Note 4). The fair value of the Company’s second lien notes, which are publicly traded (“Level 1”), is $709.1 million at September 30, 2019. The Company’s Revolving Credit Facility approximates its fair value because of its floating rate structure. Non-Financial Assets and Liabilities The Company estimates asset retirement obligations pursuant to the provisions of ASC 410. The initial measurement of asset retirement obligations at fair value is calculated using discounted cash flow techniques and based on internal estimates of future retirement costs associated with oil and natural gas properties. Given the unobservable nature of the inputs, including plugging costs and reserve lives, the initial measurement of the asset retirement obligations liability is deemed to use Level 3 inputs. Asset retirement obligations incurred and acquired during the nine months ended September 30, 2019 were approximately $3.7 million. The Company accounts for acquisitions of oil and natural gas properties under the acquisition method of accounting. Accordingly, the Company conducts assessments of net assets acquired and recognizes amounts for identifiable assets acquired and liabilities assumed at the estimated acquisition date fair values, while transaction costs associated with the acquisitions are expensed as incurred. The Company makes various assumptions in estimating the fair values of assets acquired and liabilities assumed. The most significant assumptions relate to the estimated fair value of oil and natural gas properties. The fair value of these properties is measured using a discounted cash flow model that converts future cash flows to a single discounted amount. These assumptions represent Level 3 inputs under the fair value hierarchy. Though the Company believes the methods used to estimate fair value are consistent with those used by other market participants, the use of other methods or assumptions could result in a different estimate of fair value. There were no transfers of financial assets or liabilities between Level 1, Level 2 or Level 3 inputs for the nine months ended September 30, 2019.

DERIVATIVE INSTRUMENTS AND PRIC

DERIVATIVE INSTRUMENTS AND PRICE RISK MANAGEMENT	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND PRICE RISK MANAGEMENT	DERIVATIVE INSTRUMENTS AND PRICE RISK MANAGEMENT The Company utilizes commodity price swaps, basis swaps, swaptions and collars (purchased put options and written call options) to (i) reduce the effects of volatility in price changes on the crude oil commodities it produces and sells, (ii) reduce commodity price risk and (iii) provide a base level of cash flow in order to assure it can execute at least a portion of its capital spending. All derivative instruments are recorded on the Company’s balance sheet as either assets or liabilities measured at their fair value (see Note 10). The Company has not designated any derivative instruments as hedges for accounting purposes and does not enter into such instruments for speculative trading purposes. If a derivative does not qualify as a hedge or is not designated as a hedge, the changes in the fair value are recognized in the revenues section of the Company’s condensed statements of operations as a gain or loss on derivative instruments. Mark-to-market gains and losses represent changes in fair values of derivatives that have not been settled. The Company’s cash flow is only impacted when the actual settlements under the derivative contracts result in making or receiving a payment to or from the counterparty. These cash settlements represent the cumulative gains and losses on the Company’s derivative instruments for the periods presented and do not include a recovery of costs that were paid to acquire or modify the derivative instruments that were settled. The following table presents cash settlements on matured or liquidated derivative instruments and non-cash gains and losses on open derivative instruments for the periods presented. Cash receipts and payments below reflect proceeds received upon early liquidation of derivative positions and gains or losses on derivative contracts which matured during the period, calculated as the difference between the contract price and the market settlement price of matured contracts. Non-cash gains and losses below represent the change in fair value of derivative instruments which continue to be held at period-end and the reversal of previously recognized non-cash gains or losses on derivative contracts that matured or were liquidated during the period. Three Months Ended Nine Months Ended (In thousands) 2019 2018 2019 2018 Cash Received (Paid) on Settled Derivatives (1) $ 18,386 $ (12,923) $ 35,666 $ (33,320) Non-Cash Mark-to-Market Gain (Loss) on Derivatives 57,506 (30,225) (62,806) (72,303) Gain (Loss) on Derivative Instruments, Net $ 75,892 $ (43,148) $ (27,139) $ (105,622) ______________ (1) The three and nine months ended September 30, 2019, includes approximately $7.4 million of net cash proceeds from crude oil derivative contracts that were restructured in the third quarter of 2019 prior to their contractual maturities. The Company has master netting agreements on individual commodity contracts with certain counterparties and therefore the current asset and liability are netted on the balance sheet and the non-current asset and liability are netted on the balance sheet for contracts with these counterparties. As of September 30, 2019, the Company had a total volume on open commodity price swaps of 19.0 million barrels at a weighted average price of approximately $57.32 per barrel. The following table reflects the weighted average price of open commodity price swap derivative contracts as of September 30, 2019, by year with associated volumes. Year Volumes (Bbl) Weighted 2019 2,460,411 $ 58.96 2020 9,427,594 58.53 2021 5,740,924 55.76 2022 (1) 1,372,866 52.57 ______________ (1) The Company has entered into crude oil derivative contracts that give counterparties the option to extend certain current derivative contracts for additional periods. Options covering a notional volume of 2.0 million barrels for 2022 are exercisable on or about December 31, 2021. If the counterparties exercise all such options, the notional volume of the Company’s existing crude oil derivative contracts will increase by 2.0 million barrels at a weighted average price of $54.84 per barrel for 2022. In addition to the open commodity price swap contracts the Company has entered into basis swap contracts. Basis swaps fix the price differential between a published index price and the applicable local index price under which the Company’s production is sold. The following table reflects open commodity basis swap contracts as of September 30, 2019. Settlement Period Total Volumes (Bbls) Weighted 10/01/19 – 12/31/19 920,000 $ (2.41) The following table sets forth the amounts, on a gross basis, and classification of the Company’s outstanding derivative financial instruments at September 30, 2019 and December 31, 2018, respectively. Certain amounts may be presented on a net basis on the condensed financial statements when such amounts are with the same counterparty and subject to a master netting arrangement. Type of Crude Oil Contract Balance Sheet Location September 30, 2019 Estimated Fair Value December 31, 2018 Estimated Fair Value Derivative Assets: (In thousands) Price Swap Contracts Current Assets $ 65,018 $ 108,514 Basis Swap Contracts Current Assets — 7,356 Price Swap Contracts Noncurrent Assets 51,937 61,843 Total Derivative Assets $ 116,954 $ 177,713 Derivative Liabilities: Price Swap Contracts Current Liabilities $ (2,486) $ — Price Swap Contracts Noncurrent Liabilities (653) — Price Swaptions Contracts Noncurrent Liabilities (8,601) — Total Derivative Liabilities $ (11,741) $ — The use of derivative transactions involves the risk that the counterparties will be unable to meet the financial terms of such transactions. When the Company has netting arrangements with its counterparties that provide for offsetting payables against receivables from separate derivative instruments these assets and liabilities are netted on the balance sheet. The tables presented below provide reconciliation between the gross assets and liabilities and the amounts reflected on the balance sheet. The amounts presented exclude derivative settlement receivables and payables as of the balance sheet dates. Estimated Fair Value at September 30, 2019 (In thousands) Gross Amounts of Gross Amounts Offset Net Amounts of Assets (Liabilities) Presented in the Balance Sheet Offsetting of Derivative Assets: Current Assets $ 65,018 $ (2,486) $ 62,531 Noncurrent Assets 51,937 (9,254) 42,682 Total Derivative Assets $ 116,954 $ (11,741) $ 105,213 Offsetting of Derivative Liabilities: Current Liabilities $ (2,486) $ 2,486 $ — Noncurrent Liabilities (9,254) 9,254 — Total Derivative Liabilities $ (11,741) $ 11,741 $ — Estimated Fair Value at December 31, 2018 (In thousands) Gross Amounts of Gross Amounts Offset Net Amounts of Assets (Liabilities) Presented in the Balance Sheet Offsetting of Derivative Assets: Current Assets $ 116,620 $ (750) $ 115,870 Non-Current Assets 61,857 (14) 61,843 Total Derivative Assets $ 178,477 $ (764) $ 177,713 Offsetting of Derivative Liabilities: Current Liabilities $ (750) $ 750 $ — Non-Current Liabilities (14) 14 — Total Derivative Liabilities $ (764) $ 764 $ —

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Amendment to Revolving Credit Facility On November 8, 2019, the Company entered into an amendment (the “Amendment”) to its amended and restated credit agreement, dated October 5, 2018 (the “Credit Agreement”), governing the Company’s Revolving Credit Facility. Pursuant to the Amendment, the Credit Agreement has been amended to (i) adjust the maximum ratio of total net debt to EBITDAX (as defined in the Credit Agreement) that the Company is permitted to maintain as of the end of any fiscal quarter to 3.75 to 1.00, and (ii) adjust the minimum current ratio (as defined in the Credit Agreement) that the Company is required to maintain as follows: 0.85 to 1.00 as of September 30, 2019; 0.65 to 1.00 as of December 31, 2019; 0.90 to 1.00 as of March 31, 2020; and 1.00 to 1.00 as of any subsequent fiscal quarter end.

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Use of Estimates	The preparation of financial statements under GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.  The most significant estimates relate to proved crude oil and natural gas reserves, estimates relating to certain crude oil and natural gas revenues and expenses, fair value of derivative instruments, fair value of contingent consideration, acquisition date fair values of assets acquired and liabilities assumed, impairment of oil and natural gas properties, asset retirement obligations and deferred income taxes.  Actual results may differ from those estimates.
Reclassifications	Reclassifications Certain prior period balances in the balance sheets have been reclassified to conform to the current year presentation. Such reclassifications had no impact on net income, cash flows or stockholders’ equity previously reported. Correction of Presentation Subsequent to the issuance of the Company’s condensed financial statements as of and for the period ended September 30, 2018, the Company identified an immaterial error in the supplemental footnote disclosure of non-cash investing activities in which a “Change in Prepaid Expenses and Other” was improperly included in the amount of $12.4 million. Accordingly, within the “Supplemental Cash Flow Information” section included in this Note 2 below, the Company has removed the line item previously reported as the amount of “Change in Prepaid Expenses and Other.” The error did not impact the Statement of Cash Flows.
New Accounting Pronouncements	Adopted and Recently Issued Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-02, Leases (“ASU 2016-02”). The objective of this ASU is to increase transparency and comparability among organizations by recognizing lease assets and liabilities on the balance sheet and disclosing key information about leasing arrangements. FASB subsequently issued various ASUs which provided additional implementation guidance, and these ASUs collectively make up FASB ASC Topic 842 – Leases (“ASC 842”). ASC 842 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The standard permits retrospective application through recognition of a cumulative-effect adjustment at the beginning of either the earliest reporting period presented or the period of adoption. ASC 842 does not apply to leases used in the exploration or use of minerals, oil, natural gas, or other similar non-regenerative resources. The Company adopted ASC 842 effective January 1, 2019 using the modified retrospective method as of the adoption date. The Company has completed the assessment of its existing accounting policies and enhancement of its internal controls. The standard did not have a material impact on the Company’s condensed balance sheets, statement of operations or cash flows.
Revenue Recognition	Revenue Recognition The Company’s revenues are primarily derived from its interests in the sale of oil and natural gas production. The Company recognizes revenue from its interests in the sales of oil and natural gas in the period that its performance obligations are satisfied. Performance obligations are satisfied when the customer obtains control of product, when the Company has no further obligations to perform related to the sale, when the transaction price has been determined and when collectability is probable. The sales of oil and natural gas are made under contracts which the third-party operators of the wells have negotiated with customers, which typically include variable consideration that is based on pricing tied to local indices and volumes delivered in the current month. The Company receives payment from the sale of oil and natural gas production from one to three months after delivery. At the end of each month when the performance obligation is satisfied, the variable consideration can be reasonably estimated and amounts due from customers are accrued in trade receivables, net in the balance sheets. Variances between the Company’s estimated revenue and actual payments are recorded in the month the payment is received, however, differences have been and are insignificant. Accordingly, the variable consideration is not constrained. The Company does not disclose the value of unsatisfied performance obligations under its contracts with customers as it applies the practical exemption in accordance with ASC 606. The exemption, as described in ASC 606-10-50-14(a), applies to variable consideration that is recognized as control of the product is transferred to the customer. Since each unit of product represents a separate performance obligation, future volumes are wholly unsatisfied, and disclosure of the transaction price allocated to remaining performance obligations is not required. The Company’s oil is typically sold at delivery points under contracts terms that are common in our industry. The Company’s natural gas produced is delivered by the well operators to various purchasers at agreed upon delivery points under a limited number of contract types that are also common in our industry. Regardless of the contract type, the terms of these contracts compensate the well operators for the value of the oil and natural gas at specified prices, and then the well operators will remit payment to the Company for its share in the value of the oil and natural gas sold. A wellhead imbalance liability equal to the Company’s share is recorded to the extent that the Company’s well operators have sold volumes in excess of its share of remaining reserves in an underlying property. However, for the three and nine months ended September 30, 2019 and 2018, the Company’s natural gas production was in balance, meaning its cumulative portion of natural gas production taken and sold from wells in which it has an interest equaled its entitled interest in natural gas production from those wells.
Net Income (Loss) Per Common Share	Net Income (Loss) Per Common Share Basic earnings per share (“EPS”) are computed by dividing net income (loss) (the numerator) by the weighted average number of common shares outstanding for the period (the denominator). Diluted EPS is computed by dividing net income (loss) by the weighted average number of common shares and potential common shares outstanding (if dilutive) during each period. Potential common shares include stock options and restricted stock. The number of potential common shares outstanding relating to stock options and restricted stock is computed using the treasury stock method.
Derivative Instruments and Price Risk Management	The Company utilizes commodity price swaps, basis swaps, swaptions and collars (purchased put options and written call options) to (i) reduce the effects of volatility in price changes on the crude oil commodities it produces and sells, (ii) reduce commodity price risk and (iii) provide a base level of cash flow in order to assure it can execute at least a portion of its capital spending. All derivative instruments are recorded on the Company’s balance sheet as either assets or liabilities measured at their fair value (see Note 10). The Company has not designated any derivative instruments as hedges for accounting purposes and does not enter into such instruments for speculative trading purposes. If a derivative does not qualify as a hedge or is not designated as a hedge, the changes in the fair value are recognized in the revenues section of the Company’s condensed statements of operations as a gain or loss on derivative instruments. Mark-to-market gains and losses represent changes in fair values of derivatives that have not been settled. The Company’s cash flow is only impacted when the actual settlements under the derivative contracts result in making or receiving a payment to or from the counterparty. These cash settlements represent the cumulative gains and losses on the Company’s derivative instruments for the periods presented and do not include a recovery of costs that were paid to acquire or modify the derivative instruments that were settled.
Fair Value	Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The Company uses a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following: Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Financial Assets and Liabilities

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Reconciliation of denominators used to calculate basic and diluted EPS	The reconciliation of the denominators used to calculate basic EPS and diluted EPS for the three and nine months ended September 30, 2019 and 2018 are as follows: Three Months Ended Nine Months Ended (In thousands, except share and per share data) 2019 2018 2019 2018 Net Income (Loss) $ 94,381 $ 18,979 $ 31,619 $ (74,603) Weighted Average Common Shares Outstanding: Weighted Average Common Shares Outstanding – Basic 396,044,887 300,517,497 382,044,068 188,152,998 Plus: Potentially Dilutive Common Shares Including Stock Options and Restricted Stock 485,880 1,237,922 700,236 — Weighted Average Common Shares Outstanding – Diluted 396,530,767 301,755,419 382,744,304 188,152,998 Net Income (Loss) per Common Share: Basic $ 0.24 $ 0.06 $ 0.08 $ (0.40) Diluted $ 0.24 $ 0.06 $ 0.08 $ (0.40) Shares underlying Restricted Stock Awards and Stock Options Excluded from EPS Due to Anti-Dilutive Effect 88,209 — 40,330 617,429
Supplemental cash flow activity	The following reflects the Company’s supplemental cash flow information: Nine Months Ended September 30, (In thousands) 2019 2018 Supplemental Cash Items: Cash Paid During the Period for Interest $ 52,916 $ 55,849 Non-cash Operating Activities: Contingent Consideration Settlements in excess of acquisition-date liabilities 18,480 — Non-cash Investing Activities: Oil and Natural Gas Properties Included in Accounts Payable and Accrued Liabilities 178,772 108,216 Capitalized Asset Retirement Obligations 3,703 1,644 Compensation Capitalized on Oil and Gas Properties 296 250 Issuance of Common Stock - Acquisitions of Oil and Natural Gas Properties 11,708 105,517 Issuance of VEN Bakken Note 128,660 — Non-cash Financing Activities: Exchange transactions - non-cash securities issued: Issuance of 8.50% Second Lien Notes due 2023 — 344,279 Issuance of Common Stock - fair value at issuance date — 326,783 Debt Exchange Derivative Liability - fair value at issuance date — 19,354 Issuance of 8.50% Second Lien Notes due 2023 - PIK Interest 3,480 — Debt Exchange Derivative Liability Settlements 15,735 — Contingent Consideration Settlements 17,822 — Exchange Transactions - non-cash securities exchanged: 8.00% Unsecured Senior Notes due 2020 - carrying value — (590,041)

CRUDE OIL AND NATURAL GAS PRO_2

CRUDE OIL AND NATURAL GAS PROPERTIES (Tables)	9 Months Ended
	Sep. 30, 2019
Asset Acquisition [Line Items]
Pro forma information	The summarized unaudited pro forma information may not be indicative of the results that would have occurred had the Company completed all of these acquisitions as of January 1, 2018, or that would be attained in the future. Nine Months Ended Three Months Ended Nine Months Ended (In thousands) September 30, 2019 September 30, 2018 September 30, 2018 Revenues $ 441,716 $ 176,312 $ 436,727 Net Income (Loss) 11,564 34,725 (41,221)
VEN Bakken LLC
Asset Acquisition [Line Items]
Preliminary estimate of the fair values of the assets and liabilities	The following table reflects the preliminary fair values of the net assets and liabilities as of the date of acquisition: (In thousands) Fair value of net assets: Proved oil and natural gas properties $ 322,128 Asset retirement cost 2,680 Total assets acquired 324,808 Asset retirement obligations (2,680) Derivative instruments (9,694) Net assets acquired $ 312,434 Fair value of consideration paid for net assets: Cash consideration $ 172,066 Issuance of common stock (5.6 million shares at $2.09 per share) 11,708 Unsecured VEN Bakken Note 128,660 Total fair value of consideration transferred $ 312,434
W Energy Acquisition
Asset Acquisition [Line Items]
Preliminary estimate of the fair values of the assets and liabilities	The following table reflects the fair values of the net assets and liabilities as of the date of acquisition: (In thousands) Fair value of net assets: Proved oil and natural gas properties $ 341,633 Asset retirement cost 939 Total assets acquired 342,572 Asset retirement obligations (939) Net assets acquired $ 341,633 Fair value of consideration paid for net assets: Cash consideration $ 97,838 Issuance of common stock (51.5 million shares at $4.29 per share) 220,836 Contingent consideration 22,959 Total fair value of consideration transferred $ 341,633
Pivotal Entities
Asset Acquisition [Line Items]
Preliminary estimate of the fair values of the assets and liabilities	The following table reflects fair values of the net assets and liabilities as of the date of acquisition: (In thousands) Fair value of net assets: Proved oil and natural gas properties $ 146,134 Asset retirement cost 644 Total assets acquired 146,778 Asset retirement obligations (644) Net assets acquired $ 146,134 Fair value of consideration paid for net assets: Cash consideration $ 48,189 Issuance of common stock (25.8 million shares at $3.44 per share) 88,592 Contingent consideration 9,353 Total fair value of consideration transferred $ 146,134
Salt Creek Oil and Gas, LLC
Asset Acquisition [Line Items]
Preliminary estimate of the fair values of the assets and liabilities	The following table reflects the fair values of the net assets and liabilities as of the date of acquisition: (In thousands) Fair value of net assets: Proved oil and natural gas properties $ 59,978 Asset retirement cost 154 Total assets acquired 60,132 Asset retirement obligations (154) Net assets acquired $ 59,978 Fair value of consideration paid for net assets: Cash consideration $ 44,738 Issuance of common stock (6.0 million shares at $2.54 per share) 15,240 Total fair value of consideration transferred $ 59,978

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of long-term debt instruments	The Company’s long-term debt consists of the following: September 30, 2019 (In thousands) Principal Balance Unamortized Premium/(Discount) Debt Issuance Costs, Net Long-term Debt, Net Second Lien Notes due 2023 $ 688,491 $ 10,814 $ (14,817) $ 684,488 Revolving Credit Facility (1) 327,000 — — 327,000 Unsecured VEN Bakken Note 130,000 (1,256) (160) 128,584 Total $ 1,145,491 $ 9,558 $ (14,977) $ 1,140,072 December 31, 2018 Principal Balance Unamortized Premium Debt Issuance Costs, Net Long-term Debt, Net Second Lien Notes due 2023 $ 695,140 $ 13,237 $ (18,173) $ 690,203 Revolving Credit Facility (1) 140,000 — — 140,000 Total $ 835,140 $ 13,237 $ (18,173) $ 830,203 ________________ (1) Debt issuance costs related to the Company’s revolving credit facility of $4.4 million and $5.1 million as of September 30, 2019 and December 31, 2018, respectively, are recorded in “Other Noncurrent Assets, Net” on the balance sheets.

COMMON AND PREFERRED STOCK (Tab

COMMON AND PREFERRED STOCK (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Schedule of changes in the number of shares of common stock outstanding	The following is a schedule of changes in the number of shares of common stock outstanding during the nine months ended September 30, 2019 and the year ended December 31, 2018: (In thousands) Nine Months Ended Year Ended December 31, 2018 Beginning Balance 378,333 66,792 Repurchases of Common Stock (5,635) (7,360) Stock Options Exercised - Net — 63 Restricted Stock Grants 3,169 3,295 Debt Exchanges 7,235 136,064 Equity Offerings — 96,926 Stock Consideration for Acquisitions of Oil and Natural Gas Properties 5,602 83,731 Contingent Consideration Settlements 16,324 — Other Surrenders - Tax Obligations (230) (267) Other Forfeitures (452) (911) Ending Balance 404,346 378,333

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Key assumptions used in valuing market-based awards	The key assumptions used in valuing these market-based awards were as follows: 2019 Risk-free interest rate 2.57 % Dividend yield — % Expected volatility 85.00 % Company's closing stock price on grant date $ 2.71
Stock-based compensation expense activity	The following table reflects the outstanding RSAs and activity related thereto for the nine months ended September 30, 2019: Service-based Awards Service and Performance-based Awards Service and Market-based Awards Service, Performance, and Market-based Awards Number of Shares Weighted-average Grant Date Fair Value Number of Shares Weighted-average Grant Date Fair Value Number of Shares Weighted-average Grant Date Fair Value Number of Shares Weighted-average Grant Date Fair Value Outstanding at December 31, 2018 632,759 $ 2.72 1,018,500 $ 2.70 1,176,600 $ 1.67 — $ — Shares granted 847,200 2.71 — — 1,254,000 1.82 1,068,000 0.98 Shares forfeited (32,402) 2.76 (4,000) 2.70 (416,033) 1.68 — — Shares vested (896,221) 2.82 (639,500) 2.70 (264,203) 1.67 — — Outstanding at September 30, 2019 551,336 $ 2.56 375,000 $ 2.70 1,750,364 $ 1.78 1,068,000 $ 0.98
Stock-based compensation expense	The following has been recorded to stock-based compensation expense for the periods presented: Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2019 2018 2019 2018 Restricted stock award compensation $ (8) $ 1,655 $ 4,577 $ 2,342 Less amounts capitalized in oil and natural gas properties (106) (142) (296) (250) Total stock-based compensation, net $ (114) $ 1,513 $ 4,280 $ 2,092

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income tax provision (benefit)	The income tax provision (benefit) for the three and nine months ended September 30, 2019 and 2018 consists of the following: Three Months Ended Nine Months Ended (In thousands) 2019 2018 2019 2018 Current Income Tax Provision (Benefit) $ — $ — $ — $ — Deferred Income Tax Provision (Benefit) Federal 19,328 3,812 6,431 (14,748) State 4,248 840 1,420 (3,251) Valuation Allowance (23,576) (4,652) (7,851) 17,999 Total Income Tax Provision (Benefit) $ — $ — $ — $ —

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Financial instruments measured at fair value on recurring basis	The following tables set forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis: Fair Value Measurements at September 30, 2019 Using (In thousands) Quoted Prices in Active Markets for Identical Assets (Liabilities) Significant Other Observable Inputs Significant Unobservable Inputs Commodity Derivatives – Current Asset (crude oil price and basis swaps) $ — $ 62,531 $ — Commodity Derivatives – Noncurrent Asset (crude oil price and basis swaps and crude oil price swaptions) — 42,682 — Contingent Consideration – Current Liabilities — — (10,058) Total $ — $ 105,214 $ (10,058) Fair Value Measurements at December 31, 2018 Using (In thousands) Quoted Prices in Active Markets for Identical Assets (Liabilities) Significant Other Observable Inputs Significant Unobservable Inputs Commodity Derivatives – Current Asset (crude oil price and basis swaps) $ — $ 115,870 $ — Commodity Derivatives – Noncurrent Asset (crude oil price swaps) — 61,843 — Contingent Consideration – Current Liabilities — — (58,069) Debt Exchange Derivatives – Current Liabilities — — (18,183) Total $ — $ 177,713 $ (76,252)
Changes in fair value of financing instruments classified as Level 3	The following table summarizes the changes in fair value of the Company’s financial instruments classified as Level 3 in the fair value hierarchy: (In thousands) Nine Months Ended September 30, 2019 Beginning Balance $ (76,252) Debt exchange derivative liability settlements 16,793 Change in fair value of debt exchange derivative liability 1,390 Contingent consideration settlements (1) 76,644 Change in fair value of contingent consideration (28,633) Ending Balance $ (10,058) ______________ (1) Includes $7.9 million of contingent consideration settlements included in accounts payable at September 30, 2019.

DERIVATIVE INSTRUMENTS AND PR_2

DERIVATIVE INSTRUMENTS AND PRICE RISK MANAGEMENT (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Cash Settlements on Liquidated Derivative Instruments and Non-Cash Gains and Losses on Open Derivative Instruments	The following table presents cash settlements on matured or liquidated derivative instruments and non-cash gains and losses on open derivative instruments for the periods presented. Cash receipts and payments below reflect proceeds received upon early liquidation of derivative positions and gains or losses on derivative contracts which matured during the period, calculated as the difference between the contract price and the market settlement price of matured contracts. Non-cash gains and losses below represent the change in fair value of derivative instruments which continue to be held at period-end and the reversal of previously recognized non-cash gains or losses on derivative contracts that matured or were liquidated during the period. Three Months Ended Nine Months Ended (In thousands) 2019 2018 2019 2018 Cash Received (Paid) on Settled Derivatives (1) $ 18,386 $ (12,923) $ 35,666 $ (33,320) Non-Cash Mark-to-Market Gain (Loss) on Derivatives 57,506 (30,225) (62,806) (72,303) Gain (Loss) on Derivative Instruments, Net $ 75,892 $ (43,148) $ (27,139) $ (105,622) ______________ (1) The three and nine months ended September 30, 2019, includes approximately $7.4 million of net cash proceeds from crude oil derivative contracts that were restructured in the third quarter of 2019 prior to their contractual maturities.
Weighted Average Price of Open Commodity Swap Derivative Instruments	The following table reflects the weighted average price of open commodity price swap derivative contracts as of September 30, 2019, by year with associated volumes. Year Volumes (Bbl) Weighted 2019 2,460,411 $ 58.96 2020 9,427,594 58.53 2021 5,740,924 55.76 2022 (1) 1,372,866 52.57 ______________
Summary of Open Commodity Basis Swap Contracts	The following table reflects open commodity basis swap contracts as of September 30, 2019. Settlement Period Total Volumes (Bbls) Weighted 10/01/19 – 12/31/19 920,000 $ (2.41)
Amounts and Classification of Outstanding Derivative Financial Instruments and Reconciliation Between Gross Assets and Liabilities	The following table sets forth the amounts, on a gross basis, and classification of the Company’s outstanding derivative financial instruments at September 30, 2019 and December 31, 2018, respectively. Certain amounts may be presented on a net basis on the condensed financial statements when such amounts are with the same counterparty and subject to a master netting arrangement. Type of Crude Oil Contract Balance Sheet Location September 30, 2019 Estimated Fair Value December 31, 2018 Estimated Fair Value Derivative Assets: (In thousands) Price Swap Contracts Current Assets $ 65,018 $ 108,514 Basis Swap Contracts Current Assets — 7,356 Price Swap Contracts Noncurrent Assets 51,937 61,843 Total Derivative Assets $ 116,954 $ 177,713 Derivative Liabilities: Price Swap Contracts Current Liabilities $ (2,486) $ — Price Swap Contracts Noncurrent Liabilities (653) — Price Swaptions Contracts Noncurrent Liabilities (8,601) — Total Derivative Liabilities $ (11,741) $ — The use of derivative transactions involves the risk that the counterparties will be unable to meet the financial terms of such transactions. When the Company has netting arrangements with its counterparties that provide for offsetting payables against receivables from separate derivative instruments these assets and liabilities are netted on the balance sheet. The tables presented below provide reconciliation between the gross assets and liabilities and the amounts reflected on the balance sheet. The amounts presented exclude derivative settlement receivables and payables as of the balance sheet dates. Estimated Fair Value at September 30, 2019 (In thousands) Gross Amounts of Gross Amounts Offset Net Amounts of Assets (Liabilities) Presented in the Balance Sheet Offsetting of Derivative Assets: Current Assets $ 65,018 $ (2,486) $ 62,531 Noncurrent Assets 51,937 (9,254) 42,682 Total Derivative Assets $ 116,954 $ (11,741) $ 105,213 Offsetting of Derivative Liabilities: Current Liabilities $ (2,486) $ 2,486 $ — Noncurrent Liabilities (9,254) 9,254 — Total Derivative Liabilities $ (11,741) $ 11,741 $ — Estimated Fair Value at December 31, 2018 (In thousands) Gross Amounts of Gross Amounts Offset Net Amounts of Assets (Liabilities) Presented in the Balance Sheet Offsetting of Derivative Assets: Current Assets $ 116,620 $ (750) $ 115,870 Non-Current Assets 61,857 (14) 61,843 Total Derivative Assets $ 178,477 $ (764) $ 177,713 Offsetting of Derivative Liabilities: Current Liabilities $ (750) $ 750 $ — Non-Current Liabilities (14) 14 — Total Derivative Liabilities $ (764) $ 764 $ —

ORGANIZATION AND NATURE OF BU_2

ORGANIZATION AND NATURE OF BUSINESS (Details) - Product Concentration Risk	9 Months Ended
	Sep. 30, 2019
Production
Product Information [Line Items]
Concentration risk percentage	81.00%
Sales | Oil and Gas Sales
Product Information [Line Items]
Concentration risk percentage	94.00%

BASIS OF PRESENTATION AND SIG_4

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)geographic_arearevenue_source	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)geographic_arearevenue_source	Sep. 30, 2018USD ($)
Accounting Policies [Line Items]
Change in prepaid expenses and other				$ 12.4
Number of revenue sources | revenue_source	2		2
Number of geographic areas in which entity operates | geographic_area	1		1
Oil
Accounting Policies [Line Items]
Sales	$ 152.8	$ 135	$ 416.3	315.2
Natural Gas and NGL
Accounting Policies [Line Items]
Sales	$ 5.2	$ 10.4	$ 24.3	$ 26.2

BASIS OF PRESENTATION AND SIG_5

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Reconciliation of EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Accounting Policies [Abstract]
Net Income	$ 94,381	$ 44,399	$ (107,162)	$ 18,979	$ (96,547)	$ 2,965	$ 31,619	$ (74,603)
Weighted Average Common Shares Outstanding:
Weighted Average Shares Outstanding - Basic (in shares)	396,044,887			300,517,497			382,044,068	188,152,998
Plus: Potentially Dilutive Common Shares Including Stock Options and Restricted Stock (in shares)	485,880			1,237,922			700,236	0
Weighted Average Common Shares Outstanding – Diluted (in shares)	396,530,767			301,755,419			382,744,304	188,152,998
Net Income (Loss) per Common Share:
Basic (in dollars per share)	$ 0.24			$ 0.06			$ 0.08	$ (0.40)
Diluted (in dollars per share)	$ 0.24			$ 0.06			$ 0.08	$ (0.40)
Restricted Stock Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from EPS due to anti-dilutive effect (in shares)	88,209			0			40,330	617,429

BASIS OF PRESENTATION AND SIG_6

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Supplemental Cash Items:
Cash Paid During the Period for Interest	$ 52,916	$ 55,849
Non-cash Operating Activities:
Contingent Consideration Settlements in excess of acquisition-date liabilities	18,480	0
Non-cash Investing Activities:
Oil and Natural Gas Properties Included in Accounts Payable and Accrued Liabilities	178,772	108,216
Capitalized Asset Retirement Obligations	3,703	1,644
Compensation Capitalized on Oil and Gas Properties	296	250
Issuance of Common Stock	0	326,783
Exchange transactions - non-cash securities issued:
Issuance of Common Stock - fair value at issuance date	0	326,783
Debt Exchange Derivative Liability - fair value at issuance date	0	19,354
Issuance of 8.50% Second Lien Notes due 2023 - PIK Interest	1,742	0
Debt Exchange Derivative Liability Settlements	15,735	0
Contingent Consideration Settlements	17,822	0
Oil and Natural Gas Properties
Non-cash Investing Activities:
Issuance of Common Stock	11,708	105,517
Exchange transactions - non-cash securities issued:
Issuance of Common Stock - fair value at issuance date	11,708	105,517
Unsecured VEN Bakken Note
Non-cash Investing Activities:
Issuance of Debt	128,660	0
Exchange transactions - non-cash securities issued:
Issuance of Debt	128,660	0
8.50% Second Lien Notes due 2023
Non-cash Investing Activities:
Issuance of Debt	0	344,279
Exchange transactions - non-cash securities issued:
Issuance of Debt	$ 0	344,279
Exchange Transactions - non-cash securities exchanged:
Interest rate	8.50%
Unsecured Senior Notes due 2020
Exchange Transactions - non-cash securities exchanged:
8.00% Unsecured Senior Notes due 2020 - carrying value	$ 0	(590,041)
Interest rate	8.00%
Second Lien Notes | 8.50% Second Lien Notes due 2023
Exchange transactions - non-cash securities issued:
Issuance of 8.50% Second Lien Notes due 2023 - PIK Interest	$ 3,480	$ 0

CRUDE OIL AND NATURAL GAS PRO_3

CRUDE OIL AND NATURAL GAS PROPERTIES - Narrative (Details)	Jul. 01, 2019USD ($)well$ / sharesshares	Oct. 01, 2018USD ($)$ / sharesshares	Sep. 17, 2018USD ($)$ / sharesshares	Jul. 27, 2018USD ($)awell	Jul. 17, 2018USD ($)wella	Jun. 04, 2018USD ($)$ / sharesshares	Apr. 25, 2018wella	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2019USD ($)
Asset Acquisition [Line Items]
Total fair value of consideration transferred								$ 19,100,000		$ 36,300,000
Cash consideration										$ 210,642,000	$ 125,487,000
Anticipated future period over which excluded costs will become subject to depletion										5 years
Leases expired								800,000	$ 3,100,000	$ 2,500,000	$ 8,100,000
VEN Bakken LLC
Asset Acquisition [Line Items]
Total fair value of consideration transferred	$ 312,434,000
Development costs incurred prior to closing								9,200,000		$ 11,300,000
Number of net PDP wells acquired (in wells) | well	90.1
Number of net PDNP wells acquired (in wells) | well	3.3
Net mineral acres acquired (in acres) | well	18,000
Unadjusted cash consideration	$ 172,100,000
Cash consideration	$ 172,066,000
Number of shares issued (in shares) | shares	5,602,147
Value of shares transferred	$ 11,708,000
Share price (in dollars per share) | $ / shares	$ 2.09
Revenue								26,100,000
Earnings								$ 10,000,000
Transaction costs	$ 1,800,000
VEN Bakken LLC | Senior Unsecured Notes
Asset Acquisition [Line Items]
Value of debt used in asset acquisition	$ 128,700,000
Interest rate	6.00%
Principal amount	$ 130,000,000
W Energy Acquisition
Asset Acquisition [Line Items]
Total fair value of consideration transferred		$ 341,633,000
Number of net PDP wells acquired (in wells) | well				27.2
Number of net PDNP wells acquired (in wells) | well				5.9
Net mineral acres acquired (in acres) | a				10,633
Cash consideration		97,838,000		$ 117,100,000
Adjustment to consideration transferred		$ 2,200,000										$ 17,000,000
Number of shares issued (in shares) | shares		51,476,961
Value of shares transferred		$ 220,836,000
Share price (in dollars per share) | $ / shares		$ 4.29
Contingent consideration		$ 22,959,000
Pivotal Entities
Asset Acquisition [Line Items]
Total fair value of consideration transferred			$ 146,134,000		$ 68,400,000
Number of net PDP wells acquired (in wells) | well					20.8
Number of net PDNP wells acquired (in wells) | well					2.2
Net mineral acres acquired (in acres) | a					444
Cash consideration			48,189,000
Adjustment to consideration transferred			$ 7,800,000										$ 12,400,000
Number of shares issued (in shares) | shares			25,753,578
Value of shares transferred			$ 88,592,000
Share price (in dollars per share) | $ / shares			$ 3.44
Contingent consideration			$ 9,353,000
Salt Creek Oil and Gas, LLC
Asset Acquisition [Line Items]
Total fair value of consideration transferred						$ 59,978,000
Number of gross PDP wells acquired (in wells) | well							64
Number of net PDP wells acquired (in wells) | well							5.5
Number of gross PDNP wells acquired (in wells) | well							31
Number of net PDNP wells acquired (in wells) | well							1.5
Net mineral acres acquired (in acres) | a							1,319
Cash consideration						$ 44,738,000
Number of shares issued (in shares) | shares						6,000,000
Value of shares transferred						$ 15,240,000
Share price (in dollars per share) | $ / shares						$ 2.54

CRUDE OIL AND NATURAL GAS PRO_4

CRUDE OIL AND NATURAL GAS PROPERTIES - Fair Values of the Net Assets and Liabilities as of the Date of Acquisition (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 01, 2019	Oct. 01, 2018	Sep. 17, 2018	Jul. 27, 2018	Jul. 17, 2018	Jun. 04, 2018	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Fair value of net assets:
Proved oil and natural gas properties							$ 4,043,897	$ 4,043,897		$ 3,431,428
Fair value of consideration paid for net assets:
Cash consideration								210,642	$ 125,487
Total fair value of consideration transferred							$ 19,100	$ 36,300
VEN Bakken LLC
Fair value of net assets:
Proved oil and natural gas properties	$ 322,128
Asset retirement cost	2,680
Total assets acquired	324,808
Asset retirement obligations	(2,680)
Derivative instruments	(9,694)
Net assets acquired	312,434
Fair value of consideration paid for net assets:
Cash consideration	172,066
Issuance of common stock	11,708
Unsecured VEN Bakken Note	128,660
Total fair value of consideration transferred	$ 312,434
Issuance of common stock (in shares)	5,602,147
Share price at issuance (in dollars per share)	$ 2.09
W Energy Acquisition
Fair value of net assets:
Proved oil and natural gas properties		$ 341,633
Asset retirement cost		939
Total assets acquired		342,572
Asset retirement obligations		(939)
Net assets acquired		341,633
Fair value of consideration paid for net assets:
Cash consideration		97,838		$ 117,100
Issuance of common stock		220,836
Contingent consideration		22,959
Total fair value of consideration transferred		$ 341,633
Issuance of common stock (in shares)		51,476,961
Share price at issuance (in dollars per share)		$ 4.29
Pivotal Entities
Fair value of net assets:
Proved oil and natural gas properties			$ 146,134
Asset retirement cost			644
Total assets acquired			146,778
Asset retirement obligations			(644)
Net assets acquired			146,134
Fair value of consideration paid for net assets:
Cash consideration			48,189
Issuance of common stock			88,592
Contingent consideration			9,353
Total fair value of consideration transferred			$ 146,134		$ 68,400
Issuance of common stock (in shares)			25,753,578
Share price at issuance (in dollars per share)			$ 3.44
Salt Creek Oil and Gas, LLC
Fair value of net assets:
Proved oil and natural gas properties						$ 59,978
Asset retirement cost						154
Total assets acquired						60,132
Asset retirement obligations						(154)
Net assets acquired						59,978
Fair value of consideration paid for net assets:
Cash consideration						44,738
Issuance of common stock						15,240
Total fair value of consideration transferred						$ 59,978
Issuance of common stock (in shares)						6,000,000
Share price at issuance (in dollars per share)						$ 2.54

CRUDE OIL AND NATURAL GAS PRO_5

CRUDE OIL AND NATURAL GAS PROPERTIES - Summarized Unaudited Pro Forma Financial Information (Details) - Pivotal Entities - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Asset Acquisition [Line Items]
Revenues	$ 176,312	$ 441,716	$ 436,727
Net Income (Loss)	$ 34,725	$ 11,564	$ (41,221)

LONG-TERM DEBT - Schedule of De

LONG-TERM DEBT - Schedule of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Principal Balance	$ 1,145,491	$ 835,140
Unamortized Net Discount	9,558	13,237
Debt Issuance Costs, Net	(14,977)	(18,173)
Long-term Debt, Net	1,140,072	830,203
Revolving Credit Facility
Debt Instrument [Line Items]
Principal Balance	327,000	140,000
Unamortized Net Discount	0	0
Debt Issuance Costs, Net	0	0
Long-term Debt, Net	327,000	140,000
Revolving Credit Facility | Other Noncurrent Assets, Net
Debt Instrument [Line Items]
Debt Issuance Costs, Net	(4,400)	(5,100)
Second Lien Notes due 2023
Debt Instrument [Line Items]
Principal Balance	688,491	695,140
Unamortized Net Discount	10,814	13,237
Debt Issuance Costs, Net	(14,817)	(18,173)
Long-term Debt, Net	684,488	$ 690,203
Unsecured VEN Bakken Note
Debt Instrument [Line Items]
Principal Balance	130,000
Unamortized Net Discount	(1,256)
Debt Issuance Costs, Net	(160)
Long-term Debt, Net	$ 128,584

LONG-TERM DEBT - Revolving Cred

LONG-TERM DEBT - Revolving Credit Facility (Details) - Revolving Credit Facility	Oct. 05, 2018USD ($)	Sep. 30, 2019USD ($)
Line of Credit Facility [Line Items]
Revolving credit facility, maximum borrowing	$ 750,000,000
Debt term	5 years
Number of days before maturity date	91 days
Current borrowing capacity		$ 425,000,000
Maximum debt to EBITDAX ratio under debt covenant	4
Minimum current ratio under debt covenant	1
Minimum percent of the fair value of reserves secured by mortgages		85.00%
Federal funds effective rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
LIBOR Loans
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
LIBOR Loans | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.75%
LIBOR Loans | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.75%
Base rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.75%
Base rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.75%

LONG-TERM DEBT - Second Lien No

LONG-TERM DEBT - Second Lien Notes due 2023 (Details) - USD ($)	Jul. 01, 2018	May 15, 2018	Sep. 30, 2019	Oct. 05, 2018	May 13, 2013
Senior Second Lien Notes Due 2023
Line of Credit Facility [Line Items]
Second lien notes				$ 350,000,000
Basis spread on variable rate		3.00%
Senior Second Lien Notes Due 2023 | Secured Debt
Line of Credit Facility [Line Items]
Interest rate		8.50%
Interest rate increase	1.00%
Debt to EBITDAX ratio under debt covenant		3
Maximum rate of increase in interest rate		3
Cash interest rate threshold (percent)		9.50%
Percent of net cash proceeds of asset sales for debt prepayment		100.00%
Threshold amount of casualty events and condemnations		$ 20,000,000
Redemption price, percentage of principal amount repurchased		101.00%
Senior Second Lien Notes Due 2023 | Secured Debt | From and after May 15, 2018 until May 15, 2021
Line of Credit Facility [Line Items]
Redemption price percentage		104.00%
Senior Second Lien Notes Due 2023 | Secured Debt | On and after May 15, 2021 until May 15, 2022
Line of Credit Facility [Line Items]
Redemption price percentage		102.00%
Senior Second Lien Notes Due 2023 | Secured Debt | On and after May 15, 2022
Line of Credit Facility [Line Items]
Redemption price percentage		100.00%
Senior Second Lien Notes Due 2023 | Exchange Agreement
Line of Credit Facility [Line Items]
Second lien notes		$ 344,300,000	$ 4,300,000
Aggregate principal amount of debt repurchased and retired			$ 10,100,000
8.000% Senior Notes Due 2020 | Senior Unsecured Notes
Line of Credit Facility [Line Items]
Interest rate					8.00%

LONG-TERM DEBT - Unsecured VEN

LONG-TERM DEBT - Unsecured VEN Bakken Note (Details) - Unsecured VEN Bakken Note - VEN Bakken LLC	Jul. 01, 2019USD ($)
Debt Instrument [Line Items]
Principal amount	$ 130,000,000
Debt Instrument, Percent Of Principal Required To Be Paid In First Period	50.00%
Interest rate	6.00%

COMMON AND PREFERRED STOCK - Na

COMMON AND PREFERRED STOCK - Narrative (Details) - USD ($)	3 Months Ended					9 Months Ended		12 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	May 31, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares of preferred and common stock authorized for issuance (shares)	680,000,000					680,000,000
Common stock, shares authorized (in shares)	675,000,000					675,000,000		675,000,000
Common stock, par value (in dollars per share)	$ 0.001					$ 0.001		$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000					5,000,000		5,000,000
Preferred stock, par value (in dollars per share)	$ 0.001					$ 0.001		$ 0.001
Stock Activity [Abstract]
Common stock surrendered by certain employees to cover tax obligations (shares)						200,000
Fair value of common stock surrendered by certain employees to cover tax obligations	$ 0	$ 0	$ 0	$ 0	$ 1,000	$ 600,000
Shares issued to satisfy contingent consideration in connection with acquisition (in shares)						5,602,000		83,731,000
Shares of common stock issued to satisfy obligations in connection with debt exchange derivative liabilities (in shares)						7,200,000
Stock Repurchase Program [Abstract]
Stock repurchase program, amount approved									$ 150,000,000
Stock repurchased (in shares)	0			0		5,635,000	0	7,360,000
Repurchase of stock						$ 16,300,000
Repurchase of stock recorded as a settlement of contingent consideration liabilities						$ 1,200,000
VEN Bakken LLC
Stock Activity [Abstract]
Shares issued to satisfy contingent consideration in connection with acquisition (in shares)						5,600,000
Pivotal Acquisition
Stock Activity [Abstract]
Shares issued to satisfy contingent consideration in connection with acquisition (in shares)						8,800,000
W Energy Acquisition
Stock Activity [Abstract]
Shares issued to satisfy contingent consideration in connection with acquisition (in shares)						7,600,000

COMMON AND PREFERRED STOCK - Ch

COMMON AND PREFERRED STOCK - Changes in Equity (Details) - shares	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Changes in the number of shares of common stock outstanding [Roll forward]
Beginning Balance (in shares)			378,333,070	66,792,000	66,792,000
Repurchases of Common Stock (in shares)	0	0	(5,635,000)	0	(7,360,000)
Stock Options Exercised - Net (in shares)			0		63,000
Restricted Stock Grants (in shares)			3,169,000		3,295,000
Debt Exchanges (in shares)			7,235,000		136,064,000
Equity Offerings (in shares)			0		96,926,000
Stock Consideration for Acquisitions of Oil and Natural Gas Properties (in shares)			5,602,000		83,731,000
Contingent Consideration Settlements (in shares)			16,324,000		0
Other Surrenders - Tax Obligations (in shares)			(230,000)		(267,000)
Other Forfeitures (in shares)			(452,000)		(911,000)
Ending Balance (in shares)	404,346,470		404,346,470		378,333,070

STOCK-BASED COMPENSATION - Narr

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Service and Performance-based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested, weighted average grant date fair value (in dollars per share)	$ 2.70		$ 2.70
Service and Market-based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested, weighted average grant date fair value (in dollars per share)	1.78		1.67
Service, Performance, and Market-based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested, weighted average grant date fair value (in dollars per share)	$ 0.98		$ 0
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 3.1
Unrecognized compensation expense, recognized period	7 months 6 days
Fair value of vested awards	$ 3.9	$ 3.1
Restricted Stock Awards | Employees and Executive Officers
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Restricted Stock Awards | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
2018 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for grant (shares)			15,000,000
Shares available for future awards (shares)	12,953,010
2018 Equity Incentive Plan | Service and Market-based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested, weighted average grant date fair value (in dollars per share)	$ 1.82
2018 Equity Incentive Plan | Service, Performance, and Market-based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested, weighted average grant date fair value (in dollars per share)	$ 0.98
2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future awards (shares)	769,775
2013 Equity Incentive Plan | Service and Performance-based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested, weighted average grant date fair value (in dollars per share)			$ 2.70
2013 Equity Incentive Plan | Service and Market-based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested, weighted average grant date fair value (in dollars per share)			$ 1.67

STOCK-BASED COMPENSATION - Assu

STOCK-BASED COMPENSATION - Assumptions (Details) - Market-based Awards	9 Months Ended
	Sep. 30, 2019$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	2.57%
Dividend yield	0.00%
Expected volatility	85.00%
Company's closing stock price on grant date (dollars per share)	$ 2.71

STOCK-BASED COMPENSATION - Outs

STOCK-BASED COMPENSATION - Outstanding RSA's and Activity (Details)	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Service-based Awards
Number of Shares
Outstanding, beginning (shares) | shares	632,759
Shares Granted (shares) | shares	847,200
Shares Forfeited (shares) | shares	(32,402)
Vested (shares) | shares	(896,221)
Outstanding, ending (shares) | shares	551,336
Weighted-Average Grant Date Fair Value (per Award)
Outstanding, beginning (dollars per share) | $ / shares	$ 2.72
Shares Granted (dollars per share) | $ / shares	2.71
Shares Forfeited (dollars per share) | $ / shares	2.76
Vested (dollars per share) | $ / shares	2.82
Outstanding, ending (dollars per share) | $ / shares	$ 2.56
Service and Performance-based Awards
Number of Shares
Outstanding, beginning (shares) | shares	1,018,500
Shares Granted (shares) | shares	0
Shares Forfeited (shares) | shares	(4,000)
Vested (shares) | shares	(639,500)
Outstanding, ending (shares) | shares	375,000
Weighted-Average Grant Date Fair Value (per Award)
Outstanding, beginning (dollars per share) | $ / shares	$ 2.70
Shares Granted (dollars per share) | $ / shares	0
Shares Forfeited (dollars per share) | $ / shares	2.70
Vested (dollars per share) | $ / shares	2.70
Outstanding, ending (dollars per share) | $ / shares	$ 2.70
Service and Market-based Awards
Number of Shares
Outstanding, beginning (shares) | shares	1,176,600
Shares Granted (shares) | shares	1,254,000
Shares Forfeited (shares) | shares	(416,033)
Vested (shares) | shares	(264,203)
Outstanding, ending (shares) | shares	1,750,364
Weighted-Average Grant Date Fair Value (per Award)
Outstanding, beginning (dollars per share) | $ / shares	$ 1.67
Shares Granted (dollars per share) | $ / shares	1.82
Shares Forfeited (dollars per share) | $ / shares	1.68
Vested (dollars per share) | $ / shares	1.67
Outstanding, ending (dollars per share) | $ / shares	$ 1.78
Service, Performance, and Market-based Awards
Number of Shares
Outstanding, beginning (shares) | shares	0
Shares Granted (shares) | shares	1,068,000
Shares Forfeited (shares) | shares	0
Vested (shares) | shares	0
Outstanding, ending (shares) | shares	1,068,000
Weighted-Average Grant Date Fair Value (per Award)
Outstanding, beginning (dollars per share) | $ / shares	$ 0
Shares Granted (dollars per share) | $ / shares	0.98
Shares Forfeited (dollars per share) | $ / shares	0
Vested (dollars per share) | $ / shares	0
Outstanding, ending (dollars per share) | $ / shares	$ 0.98

STOCK-BASED COMPENSATION - Stoc

STOCK-BASED COMPENSATION - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Less amounts capitalized in oil and natural gas properties	$ (106)	$ (142)	$ (296)	$ (250)
Total stock-based compensation, net	(114)	1,513	4,280	2,092
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock award compensation	$ (8)	$ 1,655	$ 4,577	$ 2,342

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Jan. 31, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Related Party Transaction [Line Items]
Stock repurchased (in shares)		0	0	5,635,000	0	7,360,000
Stock repurchased, value				$ 16.3
W Energy Partners LLC | Common Stock
Related Party Transaction [Line Items]
Stock repurchased (in shares)	3,700,000
Stock repurchased, value	$ 11.1
Subscription Arrangement
Related Party Transaction [Line Items]
Sale of stock, percentage of ownership before transaction (in excess) (percent)	5.00%

COMMITMENTS & CONTINGENCIES (De

COMMITMENTS & CONTINGENCIES (Details) $ in Millions	Sep. 30, 2019USD ($)
Other Noncurrent Assets, Net
Loss Contingencies [Line Items]
Loss contingency accounts receivable	$ 4.8

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income tax provision [Abstract]
Current Income Tax Provision (Benefit)	$ 0	$ 0	$ 0	$ 0
Deferred Income Tax Provision (Benefit)
Federal	19,328,000	3,812,000	6,431,000	(14,748,000)
State	4,248,000	840,000	1,420,000	(3,251,000)
Valuation Allowance	(23,576,000)	(4,652,000)	(7,851,000)	17,999,000
Total Income Tax Provision (Benefit)	0	0	0	0
Valuation allowance	115,900,000		115,900,000
Unrecognized tax benefits	0		0
Unrecognized tax benefits, income tax penalties and interest expense	0	0	0	0
Unrecognized tax benefits, income tax penalties and interest accrued	$ 0	$ 0	$ 0	$ 0

FAIR VALUE - Assets and Liabili

FAIR VALUE - Assets and Liabilities Accounted For At Fair Value On A Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent Consideration – Current Liabilities	$ (10,058)	$ (58,069)
Debt Exchange Derivatives – Current Liabilities	0	(18,183)
Fair Value, Measurements, Recurring | Quoted Prices In Active Markets for Identical Assets (Liabilities) (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity Derivatives – Current Asset (crude oil price and basis swaps)	0	0
Commodity Derivatives – Noncurrent Asset (crude oil price and basis swaps and crude oil price swaptions)	0	0
Contingent Consideration – Current Liabilities	0	0
Debt Exchange Derivatives – Current Liabilities		0
Total	0	0
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity Derivatives – Current Asset (crude oil price and basis swaps)	62,531	115,870
Commodity Derivatives – Noncurrent Asset (crude oil price and basis swaps and crude oil price swaptions)	42,682	61,843
Contingent Consideration – Current Liabilities	0	0
Debt Exchange Derivatives – Current Liabilities		0
Total	105,214	177,713
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commodity Derivatives – Current Asset (crude oil price and basis swaps)	0	0
Commodity Derivatives – Noncurrent Asset (crude oil price and basis swaps and crude oil price swaptions)	0	0
Contingent Consideration – Current Liabilities	(10,058)	(58,069)
Debt Exchange Derivatives – Current Liabilities		(18,183)
Total	$ (10,058)	$ (76,252)

FAIR VALUE - Narrative (Details

FAIR VALUE - Narrative (Details) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt exchange derivative liabilities	$ 0
Long-term debt	1,140,072,000		$ 830,203,000
Asset retirement obligations	3,703,000	$ 1,644,000
Second Lien Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	684,500,000
Unsecured VEN Bakken Note
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	128,584,000
Senior Second Lien Notes Due 2023 | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of senior unsecured notes	709,100,000
Term Loan Credit Agreement | Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 327,000,000

FAIR VALUE - Changes in Level 3

FAIR VALUE - Changes in Level 3 Financial Instruments (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Ending Balance	$ (10,058)
Significant Unobservable Inputs (Level 3)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Balance	(76,252)
Ending Balance	(10,058)
Significant Unobservable Inputs (Level 3) | Debt exchange derivative liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Liability settlements	16,793
Change in fair value	1,390
Significant Unobservable Inputs (Level 3) | Contingent consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Liability settlements	76,644
Change in fair value	(28,633)
Significant Unobservable Inputs (Level 3) | Contingent consideration | Accounts Payable
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Liability settlements	$ 7,900

DERIVATIVE INSTRUMENTS AND PR_3

DERIVATIVE INSTRUMENTS AND PRICE RISK MANAGEMENT - Cash Settlements on Liquidated Derivative Instruments and Non-Cash Gains and Losses on Open Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Non-cash gains or losses on derivative contracts [Abstract]
Cash Received (Paid) on Settled Derivatives	$ 18,386	$ (12,923)	$ 35,666	$ (33,320)
Non-Cash Mark-to-Market Gain (Loss) on Derivatives	57,506	(30,225)	(62,806)	(72,303)
Gain (Loss) on Derivative Instruments, Net	75,892	$ (43,148)	(27,139)	$ (105,622)
Net cash proceeds from crude oil derivative contracts	$ 7,400		$ 7,400

DERIVATIVE INSTRUMENTS AND PR_4

DERIVATIVE INSTRUMENTS AND PRICE RISK MANAGEMENT - Narrative (Details) - Total Open Commodity Swaps bbl in Millions	9 Months Ended
	Sep. 30, 2019$ / bblbbl
Derivative [Line Items]
Volume (in barrels) | bbl	19
Weighted average price (in dollars per barrel) | $ / bbl	57.32

DERIVATIVE INSTRUMENTS AND PR_5

DERIVATIVE INSTRUMENTS AND PRICE RISK MANAGEMENT - Weighted Average Price of Open Commodity Swap Derivative Instruments (Details)	9 Months Ended
	Sep. 30, 2019$ / bblbbl
2019
Derivative [Line Items]
Volume (in barrels)	2,460,411
Weighted average price (in dollars per barrel) | $ / bbl	58.96
2020
Derivative [Line Items]
Volume (in barrels)	9,427,594
Weighted average price (in dollars per barrel) | $ / bbl	58.53
2021
Derivative [Line Items]
Volume (in barrels)	5,740,924
Weighted average price (in dollars per barrel) | $ / bbl	55.76
2022
Derivative [Line Items]
Volume (in barrels)	1,372,866
Weighted average price (in dollars per barrel) | $ / bbl	52.57
Notional amount covered by options (in shares)	2,000,000
Increase in notional volume if options are exercised (in barrels)	2,000,000
Weighted average price if options are exercised (in dollars per barrel) | $ / bbl	54.84

DERIVATIVE INSTRUMENTS AND PR_6

DERIVATIVE INSTRUMENTS AND PRICE RISK MANAGEMENT - Summary of Open Commodity Basis Swap Contracts (Details) - Basis Swap Contracts	9 Months Ended
	Sep. 30, 2019$ / bblbbl
Derivative [Line Items]
Total Volume (in barrels) | bbl	920,000
Weighted Average Differential (in dollars per barrel) | $ / bbl	(2.41)

DERIVATIVE INSTRUMENTS AND PR_7

DERIVATIVE INSTRUMENTS AND PRICE RISK MANAGEMENT - Amounts and Classification of Outstanding Derivative Financial Instruments and Reconciliation Between Gross Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Offsetting Assets [Line Items]
Current Derivative Assets	$ 62,531	$ 115,870
Noncurrent Derivative Assets	42,682	61,843
Total derivative assets	116,954	177,713
Total derivative liabilities	(11,741)	0
Gross Amounts of Recognized Assets, Offsetting of Derivative Assets	116,954	178,477
Gross Amounts Offset in the Balance Sheet, Offsetting of Derivative Assets	(11,741)	(764)
Net Amounts of Assets Presented in the Balance Sheet, Offsetting of Derivative Assets	105,213	177,713
Gross Amounts of Recognized Assets, Offsetting of Derivative Liabilities	(11,741)	(764)
Gross Amounts Offset in the Balance Sheet, Offsetting of Derivative Liabilities	11,741	764
Net Amounts of Assets Presented in the Balance Sheet, Offsetting of Derivative Liabilities	0	0
Current Assets
Offsetting Assets [Line Items]
Gross Amounts of Recognized Assets, Offsetting of Derivative Assets	65,018	116,620
Gross Amounts Offset in the Balance Sheet, Offsetting of Derivative Assets	(2,486)	(750)
Net Amounts of Assets Presented in the Balance Sheet, Offsetting of Derivative Assets	62,531	115,870
Noncurrent Assets
Offsetting Assets [Line Items]
Gross Amounts of Recognized Assets, Offsetting of Derivative Assets	51,937	61,857
Gross Amounts Offset in the Balance Sheet, Offsetting of Derivative Assets	(9,254)	(14)
Net Amounts of Assets Presented in the Balance Sheet, Offsetting of Derivative Assets	42,682	61,843
Current Liabilities
Offsetting Assets [Line Items]
Gross Amounts of Recognized Assets, Offsetting of Derivative Liabilities	(2,486)	(750)
Gross Amounts Offset in the Balance Sheet, Offsetting of Derivative Liabilities	2,486	750
Net Amounts of Assets Presented in the Balance Sheet, Offsetting of Derivative Liabilities	0	0
Noncurrent Liabilities
Offsetting Assets [Line Items]
Gross Amounts of Recognized Assets, Offsetting of Derivative Liabilities	(9,254)	(14)
Gross Amounts Offset in the Balance Sheet, Offsetting of Derivative Liabilities	9,254	14
Net Amounts of Assets Presented in the Balance Sheet, Offsetting of Derivative Liabilities	0	0
Price Swap Contracts | Current Assets
Offsetting Assets [Line Items]
Current Derivative Assets	65,018	108,514
Price Swap Contracts | Noncurrent Assets
Offsetting Assets [Line Items]
Noncurrent Derivative Assets	51,937	61,843
Price Swap Contracts | Current Liabilities
Offsetting Assets [Line Items]
Current liabilities	(2,486)	0
Price Swap Contracts | Noncurrent Liabilities
Offsetting Assets [Line Items]
Noncurrent liabilities	(653)	0
Basis Swap Contracts | Current Assets
Offsetting Assets [Line Items]
Current Derivative Assets	0	7,356
Price Swaptions Contracts | Noncurrent Liabilities
Offsetting Assets [Line Items]
Noncurrent liabilities	$ (8,601)	$ 0

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Revolving Credit Facility - Subsequent Event	Nov. 08, 2019
Subsequent Event [Line Items]
Maximum allowable ratio of total net debt to EBITDAX	3.75
As of September 30, 2019
Subsequent Event [Line Items]
Minimum required current ratio	0.85
As of December 31, 2019
Subsequent Event [Line Items]
Minimum required current ratio	0.65
As of March 31, 2020
Subsequent Event [Line Items]
Minimum required current ratio	0.90
Subsequent Fiscal Quarter Ends
Subsequent Event [Line Items]
Minimum required current ratio	1