XML 18 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements Of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenues:        
Oil and natural gas sales $ 104,638 $ 88,441 $ 208,806 $ 181,600
Processing and other 792 915 1,510 1,860
Total revenues 105,430 89,356 210,316 183,460
Operating Expenses:        
Production expenses 42,489 36,144 85,237 68,911
Depreciation, depletion and amortization 26,663 25,326 57,478 49,610
Accretion of asset retirement obligations 1,758 1,375 3,490 2,697
General and administrative 10,098 10,182 20,194 20,169
Acquisition and transaction costs 59 920 620 1,008
Total operating expenses 81,067 73,947 167,019 142,395
Operating income 24,363 15,409 43,297 41,065
Other income (expense):        
Gain (losses) on commodity derivative contracts 50,329 121,568 34,205 94,544
Interest expense, net (10,270) (10,576) (21,323) (19,354)
Total other income (expense), net 39,253 116,021 12,194 82,108
Income before income taxes 63,616 131,430 55,491 123,173
Income tax expense, net (2) (730) (51) (699)
Net income 63,614 130,700 55,440 122,474
Realized Gain (Loss) [Member]
       
Other income (expense):        
Gain (losses) on commodity derivative contracts 6,233 11,896 14,398 17,664
Commodity Contract [Member]
       
Other income (expense):        
Gain (losses) on commodity derivative contracts 49,523 [1] 126,597 [1] 33,517 [1] 101,462 [1]
Commodity Contract [Member] | Realized Gain (Loss) [Member]
       
Other income (expense):        
Gain (losses) on commodity derivative contracts 7,435 [1] 14,222 [1] 16,745 [1] 22,293 [1]
Commodity Contract [Member] | Unrealized Gain (Loss) [Member]
       
Other income (expense):        
Gain (losses) on commodity derivative contracts $ 42,088 $ 112,375 $ 16,772 $ 79,169
Limited Partners - Public And Affiliated Common Units [Member]
       
Net income per limited partner unit:        
Unitholders' (basic) (in dollars per unit) $ 0.89 $ 2.15 $ 0.58 $ 1.92
Unitholders' (diluted) (in dollars per unit) $ 0.77 $ 1.67 $ 0.58 $ 1.60
Weighted average number of limited partner units outstanding:        
Common units (basic) (in units) 59,556 [2] 36,114 [2] 58,455 [2] 32,486 [2]
Common units (diluted) (in units) 82,356 [2] 52,780 [2] 58,455 [2] 49,153 [2]
Limited Partners-Affiliated - Subordinated [Member]
       
Net income per limited partner unit:        
Unitholders' (basic) (in dollars per unit)   $ 2.12   $ 1.76
Unitholders' (diluted) (in dollars per unit)   $ 1.65 [2]   $ 1.50 [2]
Weighted average number of limited partner units outstanding:        
Subordinated units (basic and diluted) (in units)   7,146 [2]   7,146 [2]
[1] Gain (loss) on commodity derivative contracts is located in other income (expense) in the consolidated statements of operations.
[2] For the three and six months ended June 30, 2013 and 2012, we had weighted average preferred units outstanding of 16,666,667. For the three months ended June 30, 2013 and 2012, we had 6,133,558 and zero Class B units outstanding, respectively. For the six months ended June 30, 2013 and 2012, we had 4,961,597 and zero Class B units outstanding, respectively. The preferred and Class B units are contingently convertible into common units and could potentially dilute earnings per unit in the future.