|
|
Year Ended December 31, |
|
|
2004 |
|
2003 |
|
2002 |
|
Revenues: |
|
|
|
|
|
|
|
|
|
Oil and gas sales |
$ |
311,285,172 |
|
$ |
211,032,639 |
|
$ |
141,195,713 |
|
Gain on asset disposition |
|
--- |
|
|
--- |
|
|
7,332,668 |
|
Price-risk management and other, net |
|
(1,008,398) |
|
|
(2,131,656) |
|
|
1,441,430 |
|
|
|
-------------------
|
|
|
-------------------
|
|
|
-------------------
|
|
|
|
310,276,774 |
|
|
208,900,983 |
|
|
149,969,811 |
|
|
|
-------------------
|
|
|
-------------------
|
|
|
-------------------
|
|
Costs and Expenses: |
|
|
|
|
|
|
|
|
|
General and administrative, net |
|
17,787,125 |
|
|
14,097,066 |
|
|
10,564,849 |
|
Depreciation, depletion, and amortization |
|
81,580,828 |
|
|
63,072,057 |
|
|
56,224,392 |
|
Accretion of asset retirement obligation |
|
673,654 |
|
|
857,356 |
|
|
--- |
|
Lease operating cost |
|
41,214,256 |
|
|
33,833,198 |
|
|
28,918,858 |
|
Severance and other taxes |
|
30,401,293 |
|
|
19,033,604 |
|
|
12,578,454 |
|
Interest expense, net |
|
27,643,108 |
|
|
27,268,524 |
|
|
23,274,969 |
|
Debt retirement cost |
|
9,536,268 |
|
|
--- |
|
|
--- |
|
|
|
-------------------
|
|
|
-------------------
|
|
|
-------------------
|
|
|
|
208,836,532 |
|
|
158,161,805 |
|
|
131,561,522 |
|
|
|
-------------------
|
|
|
-------------------
|
|
|
-------------------
|
|
Income Before Income Taxes and |
|
|
|
|
|
|
|
|
|
Change in Accounting Principle |
|
101,440,242 |
|
|
50,739,178 |
|
|
18,408,289 |
|
|
|
|
|
|
|
|
|
|
|
Provision for Income Taxes |
|
32,989,325 |
|
|
16,468,514 |
|
|
6,485,062 |
|
|
|
-------------------
|
|
|
-------------------
|
|
|
-------------------
|
|
Income Before Change in Accounting Principle |
$ |
68,450,917 |
|
$ |
34,270,664 |
|
$ |
11,923,227 |
|
Cumulative Effect of Change in Accounting Principle (net of taxes) |
|
--- |
|
|
4,376,852 |
|
|
--- |
|
|
-------------------
|
|
|
-------------------
|
|
|
-------------------
|
|
Net Income |
$ |
68,450,917 |
|
$ |
29,893,812 |
|
$ |
11,923,227 |
|
|
|
==========
|
|
|
==========
|
|
|
==========
|
|
Per Share Amounts- |
|
|
|
|
|
|
|
|
|
Basic: Income Before Change in Accounting Principle |
$ |
2.46 |
|
$ |
1.25 |
|
$ |
0.45 |
|
Change in Accounting
Principle |
|
--- |
|
|
(0.16) |
|
|
--- |
|
|
-------------------
|
|
|
-------------------
|
|
|
-------------------
|
|
Net Income |
$ |
2.46 |
|
$ |
1.09 |
|
$ |
0.45 |
|
|
|
==========
|
|
|
==========
|
|
|
==========
|
|
Diluted: Income Before Change in Accounting Principle |
$ |
2.41 |
|
$ |
1.24 |
|
$ |
0.45 |
|
Change in Accounting
Principle |
|
--- |
|
|
(0.16) |
|
|
--- |
|
|
-------------------
|
|
|
-------------------
|
|
|
-------------------
|
|
Net Income |
$ |
2.41 |
|
$ |
1.08 |
|
$ |
0.45 |
|
|
|
==========
|
|
|
==========
|
|
|
==========
|
|
Weighted Average Shares Outstanding |
|
27,822,413 |
|
|
27,357,579 |
|
|
26,382,906 |
|
|
==========
|
|
|
==========
|
|
|
==========
|
|