Selected Quarterly Financial Data

12 Months Ended

Dec. 31, 2012

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data

16. Selected Quarterly Financial Data (Unaudited)

The following table presents selected quarterly financial data for the years ended December 31, 2012 and 2011:

2012	First		Second		Third			Fourth
	(In thousands, except per share amounts)
Oil and gas revenues	$	80,715	$	83,818	$	96,197		$	107,450
Operating income	22,379		14,808		24,315			37,151
Net income (loss) from continuing operations	$	10,676	$	25,900	$	(1,860	)	$	16,461
Net income (loss)	$	9,423	$	28,504	$	(930	)	$	18,490
Net income (loss) per share - basic
Net income (loss) from continuing operations	$	0.27	$	0.65	$	(0.05	)	$	0.41
Net income (loss) per share	$	0.24	$	0.72	$	(0.02	)	$	0.47
Net income (loss) per share - diluted
Net income (loss) from continuing operations	$	0.27	$	0.65	$	(0.05	)	$	0.41
Net income (loss) per share	$	0.24	$	0.71	$	(0.02	)	$	0.46

2011	First		Second		Third		Fourth
	(In thousands, except per share amounts)
Oil and gas revenues	$	44,058	$	50,672	$	51,668	$	55,769
Operating income	9,765		6,281		16,941		5,164
Net income from continuing operations	$	735	$	5,607	$	21,491	$	4,702
Net income	$	735	$	7,742	$	21,643	$	6,510
Net income per share - basic
Net income from continuing operations	$	0.02	$	0.14	$	0.55	$	0.12
Net income per share	$	0.02	$	0.20	$	0.56	$	0.17
Net income per share - diluted
Net income from continuing operations	$	0.02	$	0.14	$	0.55	$	0.12
Net income per share	$	0.02	$	0.20	$	0.55	$	0.16

The sum of the quarterly net income per common share may not agree with the total year net income per common share as each quarterly computation is based on the weighted average common shares outstanding during that period. Previously reported amounts have been reclassified to reflect the U.K. North Sea as discontinued operations.