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Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues:        
Oil and natural gas sales $ 93,726 $ 40,564 $ 169,689 $ 69,494
Gain (loss) on derivatives, net 33,421 4,362 (2,537) 7,996
Support infrastructure 890   1,484  
Other revenue 3 4 5 13
Total revenues 128,040 44,930 168,641 77,503
Costs and expenses:        
Lease operating 8,724 4,371 16,444 8,720
Production taxes 9,451 3,900 17,149 6,408
Support infrastructure 529   719  
General and administrative 3,165 2,711 6,547 5,797
Depletion of oil and natural gas properties 23,531 14,247 42,471 23,458
Depreciation and amortization 1,244 261 2,215 494
Accretion of discount on asset retirement obligations 113 104 223 209
Total costs and expenses 46,757 25,594 85,768 45,086
Operating income (loss) 81,283 19,336 82,873 32,417
Other income (expense):        
Interest income 342 887 709 1,340
Interest expense, net (5,794) (2,931) (9,172) (5,835)
Other income (expense) 3,934 1,181 7,088 1,866
Total other income (expense) (1,518) (863) (1,375) (2,629)
Income (loss) before income taxes 79,765 18,473 81,498 29,788
Income tax expense:        
Current 0 0 0 0
Deferred (8,930)   (9,109)  
Total income tax expense (8,930)   (9,109)  
Net income (loss) $ 70,835 $ 18,473 $ 72,389 $ 29,788
Net income (loss) per share available to common stockholders:        
Basic $ 0.61 $ 0.16 $ 0.62 $ 0.28
Diluted $ 0.60 $ 0.16 $ 0.61 $ 0.27
Weighted average shares outstanding:        
Basic 116,408 113,426 116,384 106,473
Diluted 118,524 115,383 118,533 108,491