|
|
|
|
1997 FIRST QUARTER REPORT
Consolidated Statements of Income
(Unaudited)
(In Thousands Except Income Per Share)
|
Three Months Ended March 31, |
|
|
|
1997 |
1996 |
| Revenues: |
|
|
| Oil and gas sales |
$ 18,370 |
$ 9,692 |
| Fees from limited partnerships
and joint ventures |
99 |
70 |
| Supervision fees |
1,248 |
1,031 |
| Interest income |
999 |
9 |
| Other, net |
530 |
387 |
|
------------- |
------------- |
|
21,246 |
11,189 |
|
------------- |
------------- |
| Costs and Expenses: |
|
|
| Oil and gas production |
2,763 |
1,848 |
| General and administrative, net |
1,575 |
1,438 |
| Depreciation, depletion, and
amortization |
5,397 |
3,270 |
| Interest expense, net |
1,350 |
72 |
|
------------- |
------------- |
|
11,085 |
6,628 |
|
------------- |
------------- |
| Income Before Income Taxes |
10,161 |
4,561 |
| Provision for Income Taxes |
3,392 |
1,479 |
|
------------- |
------------- |
| Net Income |
6,769 |
3,082 |
|
------------- |
------------- |
| Per Share Amounts-- |
| Primary |
$ 0.45 |
$ 0.25 |
|
------------- |
------------- |
| Fully diluted |
$ 0.41 |
$ 0.22 |
|
------------- |
------------- |
| Weighted Average Shares Outstanding |
15,184 |
12,540 |
|
------------- |
------------- |
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