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Consolidated Statements of Income (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
Net Operating Revenues        
Crude Oil and Condensate $ 938,518 $ 455,808 $ 1,695,880 $ 861,970
Natural Gas Liquids 183,805 104,241 332,532 207,268
Natural Gas 599,993 553,354 1,183,912 1,230,336
Gains on Mark-to-Market Commodity Derivative Contracts 189,621 37,015 122,875 44,818
Gathering, Processing and Marketing 487,698 195,876 883,281 367,819
Gains on Asset Dispositions, Net 163,771 8,307 235,513 7,632
Other, Net 6,844 3,367 13,363 8,818
Total 2,570,250 1,357,968 4,467,356 2,728,661
Operating Expenses        
Lease and Well 216,695 160,734 431,784 326,726
Transportation Costs 101,965 94,345 199,598 183,056
Gathering and Processing Costs 17,716 13,220 36,912 28,881
Exploration Costs 41,238 50,131 92,147 101,328
Dry Hole Costs 1,676 19,318 24,627 42,395
Impairments 358,654 80,362 447,982 149,957
Marketing Costs 469,437 191,213 854,846 359,977
Depreciation, Depletion and Amortization 602,944 465,343 1,171,170 897,249
General and Administrative 67,406 64,737 137,443 125,160
Taxes Other Than Income 104,266 78,064 210,143 153,529
Total 1,981,997 1,217,467 3,606,652 2,368,258
Operating Income 588,253 140,501 860,704 360,403
Other Income (Expense), Net 6,224 (545) 9,828 2,138
Income Before Interest Expense and Income Taxes 594,477 139,956 870,532 362,541
Interest Expense, Net 51,253 29,897 101,586 55,325
Income Before Income Taxes 543,224 110,059 768,946 307,216
Income Tax Provision 247,650 50,187 339,399 129,329
Net Income $ 295,574 $ 59,872 $ 429,547 $ 177,887
Net Income Per Share        
Basic $ 1.11 $ 0.24 $ 1.65 $ 0.71
Diluted $ 1.10 $ 0.24 $ 1.63 $ 0.70
Dividends Declared per Common Share $ 0.160 $ 0.155 $ 0.320 $ 0.310
Average Number of Common Shares        
Basic 265,830 250,825 259,766 250,596
Diluted 269,332 254,503 263,363 254,206