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Condensed Consolidated Statement of Operations (Unaudited) (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 revenue:        
Oil production $ 175,357 $ 103,159 $ 327,352 $ 203,724
Gas production 56,513 60,823 102,371 124,049
Other operational income 864 1,431 1,749 2,687
Derivative income, net 1,398 2,225 0 3,413
Total operating revenue 234,132 167,638 431,472 333,873
Operating expenses:        
Lease operating expenses 46,734 36,883 85,540 75,547
Other operational expenses 136 2,447 798 2,447
Production taxes 1,801 1,590 4,336 3,244
Depreciation, depletion and amortization 72,646 63,765 140,315 124,418
Accretion expense 7,717 8,462 15,434 16,924
Salaries, general and administrative expenses 10,610 9,963 22,343 20,448
Incentive compensation expense 2,333 421 5,017 1,346
Derivative expenses, net 0   782  
Total operating expenses 141,977 123,531 274,565 244,374
Income from operations 92,155 44,107 156,907 89,499
Other (income) expenses:        
Interest expense 1,980 2,540 5,091 6,606
Interest income (53) (1,002) (147) (1,059)
Other income (563)   (1,127) (776)
Loss on early extinguishment of debt 607   607 1,820
Other expense 69 209 193 489
Total other (income) expenses 2,040 1,747 4,617 7,080
Net income before income taxes 90,115 42,360 152,290 82,419
Provision (benefit) for income taxes:        
Current (2,362) (1,392) (2,362) (5,264)
Deferred 35,281 15,880 57,664 34,393
Total income taxes 32,919 14,488 55,302 29,129
Net income $ 57,196 $ 27,872 $ 96,988 $ 53,290
Basic earnings per share $ 1.17 $ 0.57 $ 1.98 $ 1.10
Diluted earnings per share $ 1.17 $ 0.57 $ 1.98 $ 1.10
Average shares outstanding 47,961 47,654 47,930 47,631
Average shares outstanding assuming dilution 48,006 47,678 47,973 47,657