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Condensed 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
Revenue:        
Oil $ 53,892 $ 35,735 $ 102,438 $ 71,592
Gas 5,238 4,069 10,043 8,611
Other 778 838 1,483 1,571
Total revenue 59,908 40,642 113,964 81,774
Operating expenses:        
Lease operating 13,526 12,192 27,912 25,414
Production and ad valorem taxes 8,233 5,810 16,025 12,136
Depletion, depreciation, amortization and asset retirement obligation accretion 13,692 11,220 26,660 21,933
General and administrative 4,753 3,834 9,106 6,487
Total operating expenses 40,204 33,056 79,703 65,970
Income from operations 19,704 7,586 34,261 15,804
Other income (expense):        
Interest expense, net (772) (1,275) (1,887) (2,347)
Realized and unrealized gains (losses) on derivative instruments 21,644 24,226 (18,331) 24,436
Other income 18 14 52 47
Total other income (expense) 20,890 22,965 (20,166) 22,136
Income before income taxes 40,594 30,551 14,095 37,940
Income tax expense (14,926) (11,483) (5,201) (14,168)
Net income $ 25,668 $ 19,068 $ 8,894 $ 23,772
Net income per common share:        
Basic $ 0.44 $ 0.38 $ 0.16 $ 0.48
Diluted $ 0.37 $ 0.38 $ 0.13 $ 0.47
Weighted average common shares outstanding:        
Basic 58,883 49,905 56,059 49,905
Diluted 70,154 50,526 67,713 50,820