Interim Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2013

Interim Financial Information (Unaudited) [Abstract]

Interim Financial Information (Unaudited)

(14) Interim Financial Information (Unaudited)

The following tables summarize our consolidated unaudited interim financial information for the years ended December 31, 2013 and 2012.

	Three Months Ended
	March 31		June 30		September 30(1)		December 31(2)
	(In thousands, except per share data)
2013
Revenues	$	182,349	$	184,087	$	183,992	$	142,610
Costs and expenses		109,657		98,535		143,178		122,077
Income from operations		72,692		85,552		40,814		20,533
Net income (loss)		29,037		69,579		(1,284)		(12,058)
Earnings (loss) per share:
Basic	$	0.74	$	1.77	$	(0.03)	$	(0.31)
Diluted		0.73		1.75		(0.03)		(0.31)

(1) Included in net income (loss) for the three months ended September 30, 2013 is the loss on abandonment activities totaling $22.6 million resulting from an increase in required scope of work attributable to changes in regulatory interpretations and enforcement by BSEE in the deepwater.

(2) The decrease in revenue for the quarter ended December 31, 2013 compared to the quarter ended September 30, 2013 is primarily due to a decrease in oil production and a decrease in the average selling prices of our oil.

		Three Months Ended
	March 31		June 30		September 30		December 31 (1)
	(In thousands, except per share data)
2012
Revenues	$	98,796	$	99,270	$	86,668	$	138,899
Costs and expenses		71,501		68,071		67,379		86,235
Income from operations		27,295		31,199		19,289		52,664
Net income (loss)		1,503		35,401		(2,247)		24,153
Earnings (loss) per share:
Basic	$	0.04	$	0.90	$	(0.06)	$	0.62
Diluted		0.04		0.90		(0.06)		0.61

(1)Includes the results of operations of the Hilcorp Properties, which we acquired on October 31, 2012.