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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
REVENUES    
Sales and other operating revenues$ 7,211,407$ 5,210,807[1]$ 20,865,047$ 14,665,786[1]
Gain on sale of assets60208[1]23,192997[1]
Interest and other income (expense)28,976(10,681)[1]39,802(61,140)[1]
Total revenues7,240,4435,200,334[1]20,928,04114,605,643[1]
COSTS AND EXPENSES    
Crude oil and product purchases5,727,8733,990,497[1]16,633,22111,015,394[1]
Operating expenses521,864437,926[1]1,471,9011,218,625[1]
Exploration expenses, including undeveloped lease amortization85,68862,046[1]304,500181,503[1]
Selling and general expenses73,56163,892[1]220,753189,416[1]
Depreciation, depletion and amortization272,914272,621[1]793,445828,918[1]
Accretion of asset retirement obligations9,3518,104[1]28,49423,561[1]
Redetermination of Terra Nova working interest04,491[1](5,351)15,353[1]
Interest expense17,32912,751[1]41,64841,453[1]
Interest capitalized(2,475)(4,708)[1](11,547)(11,069)[1]
Total costs and expenses6,706,1054,847,620[1]19,477,06413,503,154[1]
Income from continuing operations before income taxes534,338352,714[1]1,450,9771,102,489[1]
Income tax expense198,597155,277[1]596,778472,411[1]
Income from continuing operations335,741197,437[1]854,199630,078[1]
Income from discontinued operations, net of taxes70,3735,395[1]132,431(6,066)[1]
NET INCOME$ 406,114$ 202,832[1]$ 986,630$ 624,012[1]
INCOME PER COMMON SHARE - BASIC    
Income from continuing operations$ 1.74$ 1.03[1]$ 4.42$ 3.29[1]
Income from discontinued operations$ 0.36$ 0.03[1]$ 0.68$ (0.03)[1]
Net income$ 2.10$ 1.06[1]$ 5.10$ 3.26[1]
INCOME PER COMMON SHARE - DILUTED    
Income from continuing operations$ 1.73$ 1.02[1]$ 4.39$ 3.27[1]
Income from discontinued operations$ 0.36$ 0.03[1]$ 0.68$ (0.03)[1]
Net income$ 2.09$ 1.05[1]$ 5.07$ 3.24[1]
Average common shares outstanding    
Basic193,517,785191,943,813[1]193,342,825191,577,000[1]
Diluted194,411,116193,437,992[1]194,548,846192,866,485[1]
[1]Reclassified to conform to current presentation