Selected Quarterly Financial Data

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data

15. Selected Quarterly Financial Data (Unaudited)

The following table presents selected quarterly financial data for the years ended December 31, 2013 and 2012:

2013	First			Second		Third		Fourth
	(In thousands, except per share amounts)
Oil and gas revenues	$	111,901		$	134,224	$	144,329	$	129,728
Operating income (loss)	33,463			46,618		48,603		(21,002		)	(2)
Net income (loss) from continuing operations	2,524			35,837		5,712		(22,215		)
Net income (loss)	$	26,182	(1)	$	36,969	$	4,521	$	(23,989	)	(2)
Net income (loss) per share - basic
Net income (loss) from continuing operations	$	0.06		$	0.89	$	0.14	$	(0.52	)	(2)
Net income (loss) per share	0.66		(1)	0.92		0.11		(0.56		)	(2)
Net income (loss) per share - diluted
Net income (loss) from continuing operations	$	0.06		$	0.88	$	0.14	$	(0.52	)	(2)
Net income (loss) per share	0.65		(1)	0.91		0.11		(0.56		)	(2)

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	22,380		14,806		24,318			37,151
Net income (loss) from continuing operations	10,676		25,683		(1,945		)	16,763
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	)	$	0.42
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	$	0.64	$	(0.05	)	$	0.42
Net income (loss) per share	0.24		0.71		(0.02		)	0.46

(1) First quarter 2013 results include the impact of pre-tax gain of $37.3 million related to the sale of the Company’s U.K. North Sea assets which were reported as discontinued operations.

(2) Fourth quarter 2013 results include the impact of a pre-tax loss of $45.4 million related to the sale of the Company’s remaining oil and gas properties in the Barnett.

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