|
|
December
31, |
|
|
|
2002 |
2001 |
|
---------------------- |
---------------------- |
| ASSETS |
|
|
|
|
|
| Current Assets: |
|
|
| Cash and cash
equivalents |
$
3,816,107 |
$
2,149,086 |
| Accounts
receivable -- |
|
|
| Oil
and gas sales |
17,360,716 |
14,215,189 |
| Associated
limited partnerships and joint ventures |
191,964 |
6,259,604 |
| Joint
interest owners |
3,364,846 |
11,467,461 |
| Other current
assets |
5,034,566 |
2,661,640 |
|
---------------------- |
---------------------- |
| Total
Current Assets |
29,768,199 |
36,752,980 |
|
---------------------- |
---------------------- |
| Property and Equipment: |
|
|
| Oil and gas,
using full-cost accounting |
|
|
| Proved
properties |
1,150,633,802 |
974,698,428 |
| Unproved
properties |
69,603,481 |
95,943,163 |
|
---------------------- |
---------------------- |
|
1,220,237,283 |
1,070,641,591 |
| Furniture,
fixtures and other equipment |
9,595,944 |
8,706,414 |
|
---------------------- |
---------------------- |
|
1,229,833,227 |
1,079,348,005 |
| Less--Accumulated
depreciation, depletion, |
|
|
|
and amortization |
(504,323,773) |
(448,139,334) |
|
---------------------- |
---------------------- |
|
725,509,454 |
631,208,671 |
|
---------------------- |
---------------------- |
| Other Assets: |
|
|
| Deferred
income taxes |
2,680,585 |
--- |
| Deferred
charges |
9,047,621 |
3,723,182 |
|
---------------------- |
---------------------- |
|
11,728,206 |
3,723,182 |
|
---------------------- |
---------------------- |
|
$767,005,859 |
$671,684,833 |
|
=========== |
=========== |
|
|
|
| LIABILITIES AND STOCKHOLDERS'
EQUITY |
|
|
|
|
|
| Current Liabilities: |
|
|
| Accounts
payable and accrued liabilities |
$
43,028,708 |
$
38,884,380 |
| Payable to
associated limited partnerships |
91,126 |
26,573,490 |
| Undistributed
oil and gas revenues |
3,764,350 |
7,787,465 |
|
---------------------- |
---------------------- |
| Total
Current Liabilities |
46,884,184 |
73,245,335 |
|
---------------------- |
---------------------- |
|
|
|
| Long-Term Debt |
324,271,973 |
258,197,128 |
| Deferred Income Taxes |
30,776,518 |
27,589,650 |
|
|
|
| Commitments and Contingencies |
|
|
|
|
|
| Stockholders' Equity: |
|
|
| Preferred
stock, $.01 par value, 5,000,000 shares authorized, |
|
|
| none
outstanding |
--- |
--- |
| Common stock,
$.01 par value, 85,000,000 shares authorized, |
|
|
| 27,811,632
and 25,634,598 shares issued, and 27,201,509 and |
|
|
| 24,795,564
shares outstanding, respectively |
278,116 |
256,346 |
| Additional
paid-in capital |
333,543,471 |
296,172,820 |
| Treasury stock
held, at cost, 610,123 and 839,034 shares, respectively |
(8,749,922) |
(12,032,791) |
| Retained
earnings |
40,179,572 |
28,256,345 |
| Accumulated
other comprehensive loss, net of income tax |
(178,053) |
--- |
|
---------------------- |
---------------------- |
|
365,073,184 |
312,652,720 |
|
---------------------- |
---------------------- |
|
$
767,005,859 |
$
671,684,833 |
|
=========== |
=========== |
|
|
|
|
