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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 and other income        
Natural gas, NGL and oil sales $ 256,687 $ 173,153 $ 483,568 $ 360,826
Transportation and gathering (1,041) 663 (728) 2,744
Derivative fair value income 53,039 6,546 12,205 48,879
(Loss) gain on the sale of assets (1,621) 10,176 (1,482) 78,089
Other (435) 637 642 (938)
Total revenues and other income 306,629 191,175 494,205 489,600
Costs and expenses        
Direct operating 28,509 21,171 57,226 43,007
Production and ad valorem taxes 7,550 5,663 14,429 12,205
Exploration 11,592 14,420 38,779 28,559
Abandonment and impairment of unproved properties 18,900 9,727 35,437 16,278
General and administrative 39,120 35,836 73,079 64,006
Termination costs       7,938
Deferred compensation plan (5,778) (14,135) 24,852 (19,847)
Interest expense 31,383 21,271 56,162 42,202
Loss on early extinguishment of debt 18,580   18,580  
Depletion, depreciation and amortization 78,294 67,813 150,510 132,620
Impairment of proved properties       6,505
Total costs and expenses 228,150 161,766 469,054 333,473
Income from continuing operations before income taxes 78,479 29,409 25,151 156,127
Income tax expense        
Current 8   8  
Deferred 32,695 11,763 12,798 60,775
Total income tax expense 32,703 11,763 12,806 60,775
Income from continuing operations 45,776 17,646 12,345 95,352
Discontinued operations, net of taxes 5,517 (8,594) 13,915 (8,721)
Net income $ 51,293 $ 9,052 $ 26,260 $ 86,631
Income per common share        
Basic-income from continuing operations $ 0.28 $ 0.11 $ 0.08 $ 0.59
- discontinued operations $ 0.04 $ (0.05) $ 0.08 $ (0.05)
- net income $ 0.32 $ 0.06 $ 0.16 $ 0.54
Diluted-income from continuing operations $ 0.28 $ 0.11 $ 0.08 $ 0.59
- discontinued operations $ 0.04 $ (0.05) $ 0.08 $ (0.05)
- net income $ 0.32 $ 0.06 $ 0.16 $ 0.54
Dividends per common share $ 0.04 $ 0.04 $ 0.08 $ 0.08
Weighted average common shares outstanding        
Basic 157,997 156,820 157,772 156,608
Diluted 158,833 158,472 158,729 158,601