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CONSOLIDATED STATEMENTS OF OPERATIONS (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        
Oil and gas sales $ 105,804 $ 76,918 $ 200,736 $ 155,960
Natural gas services 365 452 774 955
Drilling rig services 2,425   2,685  
Gain on sales of assets 949 113 14,521 399
Total revenues 109,543 77,483 218,716 157,314
COSTS AND EXPENSES        
Production 26,133 20,567 50,953 41,494
Exploration:        
Abandonments and impairments 174 2,891 1,051 5,769
Seismic and other 2,167 974 3,445 2,634
Natural gas services 285 306 548 654
Drilling rig services 1,919 419 2,705 1,081
Depreciation, depletion and amortization 25,342 25,437 49,086 51,049
Impairment of property and equipment 4,424 11,114 4,424 11,114
Accretion of abandonment obligations 697 647 1,371 1,294
General and administrative 3,037 7,832 15,536 14,056
Loss on sales of assets and impairment of inventory 107 1,443 303 1,443
Total costs and expenses 64,285 71,630 129,422 130,588
Operating income 45,258 5,853 89,294 26,726
OTHER INCOME (EXPENSE)        
Interest expense (9,175) (6,244) (15,587) (12,353)
Loss on early extinguishment of long-term debt     (4,594)  
Gain (loss) on derivatives 28,187 20,983 (18,158) 31,284
Other 1,900 1,016 2,987 1,844
Total other income (expense) 20,912 15,755 (35,352) 20,775
Income before income taxes 66,170 21,608 53,942 47,501
Income tax expense (23,502) (7,645) (19,149) (16,863)
NET INCOME $ 42,668 $ 13,963 $ 34,793 $ 30,638
Net income per common share:        
Basic (in dollars per share) $ 3.51 $ 1.15 $ 2.86 $ 2.52
Diluted (in dollars per share) $ 3.51 $ 1.15 $ 2.86 $ 2.52
Weighted average common shares outstanding:        
Basic (in shares) 12,162 12,146 12,159 12,146
Diluted (in shares) 12,163 12,146 12,159 12,146