Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v2.4.0.8
Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues:      
Oil and condensate sales $ 224,129 $ 242,708 $ 222,025
Gas sales 21,015 3,225 3,838
Natural gas liquid sales 17,081 2,668 3,090
Other income 528 325 301
Total revenues 262,753 248,926 229,254
Costs and expenses:      
Lease operating expenses 26,703 24,308 20,897
Production taxes 26,933 28,957 26,054
Midstream transportation, processing and marketing 11,030 443 279
Depreciation, depletion and amortization 118,880 90,749 62,320
General and administrative 22,519 13,808 8,074
Accretion expense 717 698 666
(Gain) loss on sale of assets 508 (7,300) 0
Total costs and expenses 207,290 151,663 118,290
INCOME FROM OPERATIONS 55,463 97,263 110,964
OTHER (INCOME) EXPENSE:      
Interest expense 17,490 7,458 1,400
Interest income (297) (72) (186)
(Income) loss from equity method investments (213,058) (8,322) 1,418
Total Other (Income) Expense (195,865) (936) 2,632
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 251,328 98,199 108,332
INCOME TAX EXPENSE (BENEFIT) 98,136 26,363 (90)
INCOME FROM CONTINUING OPERATIONS 153,192 71,836 108,422
Loss on disposal of Belize properties, net of tax 0 3,465 0
NET INCOME $ 153,192 $ 68,371 $ 108,422
NET INCOME PER COMMON SHARE:      
Basic net income from continuing operations per share (usd per share) $ 1.98 $ 1.28 $ 2.22
Basic net income from discontinued operations, net of tax, per share $ 0.00 $ (0.06) $ 0.00
Basic net income per share $ 1.98 $ 1.22 $ 2.22
Diluted net income from continuing operations per share (usd per share) $ 1.97 $ 1.27 $ 2.20
Diluted net income from discontinued operations, net of tax, per share $ 0.00 $ (0.06) $ 0.00
Diluted net income per share $ 1.97 $ 1.21 $ 2.20
Weighted average common shares outstanding - Basic (shares) 77,375,683 55,933,354 48,754,840
Weighted average common shares outstanding-Diluted (shares) 77,861,646 56,417,488 49,206,963