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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Operating revenues and other income:        
Oil, gas, and NGL production revenue $ 312,608 $ 333,934 $ 675,203 $ 610,247
Realized hedge gain (loss) (note 10) 185 (6,330) 1,837 (7,705)
Gain on divestiture activity (note 3) (24,176) 30,019 (22,714) 54,934
Marketed gas system and other operating revenue 15,803 20,250 27,517 35,726
Total operating revenues and other income 304,420 377,873 681,843 693,202
Operating expenses:        
Oil, gas, and NGL production expense 91,134 53,342 178,266 119,154
Depletion, depreciation, amortization, and asset retirement obligation liability accretion 161,608 115,382 331,178 220,738
Exploration 22,007 9,603 40,614 22,315
Impairment of proved properties 38,523 0 38,523 0
Abandonment and impairment of unproved properties 10,707 1,237 10,849 4,316
General and administrative 31,130 27,310 59,272 53,171
Change in Net Profits Plan liability (note 7) (22,079) (13,984) (18,140) 211
Unrealized and realized derivative (gain) loss (note 10) (98,112) (43,876) (95,896) 44,553
Marketed gas system and other expense 17,111 17,152 28,561 37,009
Total operating expenses 252,029 166,166 573,227 501,467
Income from operations 52,391 211,707 108,616 191,735
Nonoperating income (expense):        
Interest income 5 227 75 355
Interest expense (12,712) (14,550) (26,990) (24,264)
Income before income taxes 39,684 197,384 81,701 167,826
Income tax expense (14,795) (72,851) (30,476) (61,796)
Net income $ 24,889 $ 124,533 $ 51,225 $ 106,030
Basic weighted-average common shares outstanding (in shares) 64,585 63,638 64,345 63,543
Diluted weighted-average common shares outstanding (in shares) 67,556 66,909 67,806 66,695
Basic net income per common share (in dollars per share) (note 9) $ 0.39 $ 1.96 $ 0.80 $ 1.67
Diluted net income per common share (in dollars per share) (note 9) $ 0.37 $ 1.86 $ 0.76 $ 1.59
Cash dividends (in dollars per share) $ 0.00 $ 0.00 $ 0.05 $ 0.05