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CONDENSED 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
Operating revenues and other income:        
Oil, gas, and NGL production revenue $ 333,934 $ 175,887 $ 610,247 $ 388,774
Realized hedge gain (loss) (note 10) (6,330) 9,329 (7,705) 11,924
Gain on divestiture activity (note 3) 30,019 7,021 54,934 127,999
Marketed gas system and other operating revenue 20,250 19,460 35,726 43,135
Total operating revenues and other income 377,873 211,697 693,202 571,832
Operating expenses:        
Oil, gas, and NGL production expense 53,342 45,168 119,154 93,508
Depletion, depreciation, amortization, and asset retirement obligation liability accretion 115,382 79,770 220,738 157,535
Exploration 9,603 14,498 22,315 28,396
Abandonment and impairment of unproved properties 1,237 2,375 4,316 3,279
General and administrative 27,310 25,398 53,171 48,884
Change in Net Profits Plan liability (13,984) (6,599) 211 (33,871)
Unrealized and realized derivative (gain) loss (note 10) (43,876) (2,087) 44,553 (9,822)
Marketed gas system and other expense 17,152 16,385 37,009 39,383
Total operating expenses 166,166 174,908 501,467 327,292
Income from operations 211,707 36,789 191,735 244,540
Nonoperating income (expense):        
Interest income 227 54 355 183
Interest expense (14,550) (6,343) (24,264) (13,130)
Income before income taxes 197,384 30,500 167,826 231,593
Income tax expense (72,851) (12,432) (61,796) (87,347)
Net income $ 124,533 $ 18,068 $ 106,030 $ 144,246
Basic weighted-average common shares outstanding (in shares) 63,638 62,917 63,543 62,855
Diluted weighted-average common shares outstanding (in shares) 66,909 64,566 66,695 64,493
Basic net income per common share (in dollars per share) $ 1.96 $ 0.29 $ 1.67 $ 2.29
Diluted net income per common share (in dollars per share) $ 1.86 $ 0.28 $ 1.59 $ 2.24